WHATEVER YOU THOUGHT ABOUT MILLENNIALS…WELL, THINK AGAIN!
This exclusive NPAFE white paper, which you can read and download here for free, challenges the conventional wisdom that Millennials are different than GenXers, Baby Boomers, or anyone else … and why this matters to corporate marketers at companies large and small.
Based on data from Accenture, Deloitte, Ad Age, Gartner, Nielsen, and the new US Census Bureau study, the NPAFE white paper confirms how and why Millennials have aspirations and goals pretty much the same as everyone else, The paper then identifies options, including what works (and doesn’t!) with Social Media, that the world’s major consulting firms recommend to corporate marketers for reaching Millennials and Gen Z successfully.
WHERE THE REAL
CUSTOMER LOYALTY LIES
Over one-half (56%) of those following the performing arts say they would “Almost always” or “Frequently” buy a product sponsoring arts or cultural events over one that does not. Only 36% of NFL fans, 34% of America’s Cup enthusiasts and less than one-fifth (17%) of Olympic Games audiences would choose products based on their sponsorships.
Almost one-half (48%) of Americans with an interest in performing arts indicated that they hold a “Higher” trust in companies that sponsor these events compared to those who do not, while only 16% of Olympic Games enthusiasts claim a “Higher” trust in their sponsors.
-Performance Research, 2015
Here they are. Numbers even for Millennials and Gen Z. Each and all confirm why corporate sponsorship of carefully-chosen performing arts events results in deeper, lasting customer loyalty.
- 89% of consumers say: “Brand me”: my purchases reflect what I stand for and believe in: 89% are loyal to brands that share their values (Wunderman)
- 88% of consumers say: “Go above and beyond”. It’s more than surprise and delight: 88% want to engage with brands that are setting new standards. (Wunderman)
- 88% say: “Blaze a trail. New ideas Matter”. 88% want brands to push the boundaries. They want to engage with brands that are setting new standards in meeting their expectations. (Wunderman)
- 79% say: “I want you to want me”: Consumers want brands to adapt to their needs: 79% only consider brands that show they understand and care about me before they are going to consider purchasing.” (Wunderman)
- Up by 70%: Since 1987, the share of consumer spending on live experiences and events relative to total U.S. consumer spending increased 70%. People want to experience more, and businesses are evolving and entering the market to meet that demand. (Eventbrite)
- 63% of consumers say: The best brands exceed expectations across the entire customer journey (Wunderman)
- 62% of consumers, almost two-thirds, believe the best brands succeed in making their lives easier. And that doesn’t just mean great products, either. (Wunderman)
- 56% are more loyal to brands that “Get me”. Brands must demonstrate at every step in the customer journey that they understand what consumers need and want. 56% feel more loyal to brands that show a deep understanding of their priorities and preferences. (Wunderman)
- 55% of U.S. consumers recommend brands or organizations to which they are loyal to their family and friends. (Eventbrite)
- 41% of U.S. consumers are loyal to organizations that present them with new experiences, products or services (Accenture)
- 37% of U.S. consumers show loyalty to brands that actively support shared causes, such as charities or public campaigns (Accenture)
What about those millennials we’re all trying to reach?
- 87% of millennials donated to a nonprofit in 2013. (Women’s Wear Daily)
- 78%, more than 3 in 4 millennials, would choose to spend money on a desirable experience or event over buying something desirable. (Eventbrite)
- 75% say it’s either fairly or very important that a company gives back to society instead of just making a profit. (Women’s Wear Daily)
- 72% say they can’t get enough and would like to increase their spending on experiences rather than physical things in the next year. (Eventbrite)
- 69% believe attending events makes them feel more connected to other people, the community, and the world. (Eventbrite)
- 64% say they’re more brand loyal or as brand loyal as their parents. (Women’s Wear Daily)
- 55% say they’re spending more on events than ever before, with no signs of slowing. (Eventbrite)
- 48% feel more loyal to a brand that provides interesting experiences, compared to 35% of Gen X and only 17% of Baby Boomers. (Women’s Wear Daily)