Businessmen and event planners can’t afford to ignore the power of millennials and how they’re reshaping business today! A report by Pew Research says that millennials officially compose the largest U.S. age demographic at 75.4 million with a projected spending power of $200 billion annually and $10 trillion in their lifetimes.
These stats are bound to grab our attention as millennials grow into our primary audience over the next two decades. Now enter a hybrid event platform, a solution that is a blend of virtual and physical, that may be the perfect fit for this new demographic.
But what is it that makes millennials flock to a hybrid event software? Let’s have a look at what attracts them to these platforms and caters to their need for social involvement and interaction.
Millennials Exist in Both Physical and Digital Spaces
Millennials are the only group of people who thrive equally in physical and virtual spaces. For some, mornings are spent scrolling through their Instagram feed and for some they’re spent sitting at the beach.
With the rise in tech, just as Snapchat, Facebook and Pinterest have become their online interests, games like Pokemon Go have made them realise how a blend of physical and virtual is the best combination to have!
A hybrid event software gives them an opportunity to live both live and virtual experiences, and because they equally enjoy both the spaces, it becomes easy to capture their attention. In a nutshell, hybrid events and millennials are pieces of a puzzle that fit together perfectly, because they both symbiotically co-exist.
A very good example of this is the GITEX Tech Week that was held in Dubai last year as a hybrid event. The event saw the millennial crowd flock to it from across the globe, both at the physical as well as the virtual venue.
Millennials Have Short Attention Spans
Millennials, who are accustomed to Instagram reels of 5 seconds and a constantly upgrading timeline, naturally have short attention spans that are used to rapid change. Now, imagine a purely physical event where they are seated at one place for a good 3-4 hours! Good luck to you keeping them attentive- because that just won’t happen!
However, with a hybrid event, you give them just what they are looking for— change! Hybrid events allow the audience to switch between the technology they love and the in-person activities they want to indulge in.
When you host an event on a hybrid event software, you give this group a chance to interact with you in a capacity that works best for them.
They can record and share their in-person experiences online and interact from various platforms for the duration of the event. With a hybrid event you can deliver on-demand content that millennials love — just make it quickly available when they’re ready and you’ve won their hearts over!
Millennials Look For Something Different
Millennials are extremely particular about what they are signing up for. They might get hooked to something but the moment they find something better, they’ll move on. Beyond anything else, they prefer the experience. The value addition they get and the time they spend on your hybrid event platform is extremely vital for them.
Hence, one of the reasons they get attracted to hybrid events is that these events provide an opportunity to experience things that are unique in themselves. Content can be delivered online, on-demand, and in-person for an enriching mix of fun and frolic.
Coming to post-event participation, the ability of hybrid events to keep the memories of the event alive through social media buzz makes the experience even more attractive to a group that is eager to live in exclusive, share-worthy moments.
Millennials Don’t Have Much Spending Power
Millennials are known to be a frugal and price-conscious species. Very different from those times 20 years ago, when people didn’t have many options and were quick to spend on the limited number of alternatives, millennials seek budget-friendly choices.
They don’t mind spending extra time on buying the most cheap product or skimping on tickets to experience an event being telecast live. They want to make sure that they’re getting the most bang for their buck.
So when you make them a part of your hybrid event, you give them just what they want — a chance to become a part of an event that doesn’t always come with a price.
Since hybrid events offer the flexibility of being cost-effective, they become more accommodating to the millennial mindset.
Though ‘millennials’ is a category of demographic we are talking about, we all know that at the end of the day most of us are seeking the same things as them. We’re all looking for something affordable, unique and worth our time.
The best virtual trade show platforms, hybrid event platforms and job fair platforms offer all the 3 aspects in the right amount. It is you who has to filter, choose and shortlist the one that gives you the best hybrid experience!