Friday, April 29, 2016

Capturing Millennials

The American Society for Association Executives this week shuttered its decades-old "Springtime in the Park" and announced a new un-expo, "The Xperience Design Project."

The move typifies every event producer's urge to capture Millennials, who'll comprise half of all prospective attendees by 2020.

Like event producers, travel companies are "scrambling to capture the business and loyalty of this new breed," Jordan Forrest says in Forbes.

Forrest notes five ways Millennials differ from their predecessors:

They travel. Millennials average five business trips a year, compared to only two for older professionals. They're also more likely to extend a business trip into a vacation.

They tinker. Millennials "expect mobility and crave convenience," Forrest says. They're more likely to use apps to book business travel and streamline travel plans.

They splurge. Millennials have expensive tastes, "as long as they’re not the ones paying." They're more likely to spend company money on fine dining and room service than seasoned colleagues.

They freewheel. Millennials are far more likely than older colleagues to book trips and change travel plans at the last minute. In response, "many airlines and hotels have begun offering last-minute online travel deals targeted at digitally savvy Millennial travelers."

They grouse. Millennials trust online reviews and aren't shy about posting negative ones. "It’s no wonder that businesses are eager to meet Millennial demands," Forrest says.
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