'SRIRACHA'

'A MILLION WAYS'

Why do Millennials even go to events like their high school reunions? Thanks to social media, they're already up-to-date on all of their classmates' lives, right?  And between the Instagram photos, Foursquare and Facebook check-ins, up-to-the-second news on Reddit (literally), curated Twitter feeds, IMing,  and shopping online using convenient retail platforms like Amazon, it's a wonder they ever even go outside.  Yet in spite of all of these digital capabilities, Millennials are making it very clear that they actually crave much more tangible experiences; so much so that 72% would rather spend their money on an experience rather than on material items.  

It's a trend that exposes a generation, whose tendency is to text more than they talk, growing anxious to experience the "in the flesh" world to a point where they have made it a priority.  This discovery is opening up the door to new start-ups tapping into this growing desire and finding new ways to meet the demand of the Millennial market. Former New York Giants running back Tiki Barber's start-up Thuzio helps people and brands book athletes for a wide variety of fan experiences.  What's interesting is that Thuzio admits booking athletes for events or celebrations is not a new service.  But the new marketplace with price transparency and eCommerce has allowed expanded access to a larger audience, making it possible for an everyday fan to go watch a baseball game with your favorite athlete rather than just tweeting at them.

And the demand is growing.  Similar start-up IfOnly that also exclusively sell "experiences", has sold more than 2,000 experiences in it's first year of operation, claiming their revenue has doubled every quarter.  While not all of the experiences being offered through these companies are solely targeting Millennials, the vast majority of Millennials are willing to sacrifice buying products and are gravitating toward companies like Thuzio and IfOnly that will stimulate their senses through more robust, unusual experiences.  Even current popular digital behaviors like binge-watching streaming videos online has sparked a reaction from theaters to offer a more enjoyable experience, offering luxuries like cushioned recliners and on-demand food and beverage services at your seat to draw customers. 

It's worth asking how this will impact the future marketplace not only for Millennials, but also for the Digital Native generation following closely behind them. Soon, it may not be enough to just "sell someone a car".  Buyers may demand to drive the car on a race track before they sign on the dotted line.  And with the demand growing higher and higher, more and more brands may have to offer experiences along with their normal products or services just to entice Millennials.  It does seem a bit ironic that today's digital world has expanded our everyday capabilities and seems to connect us to every facet of our life, yet is driving us toward a new type of marketplace based on sensory experience due to the growing disconnection with the physical world.

They say a picture is worth a thousand words.  Well, sometimes the right meme can be worth a million shares and if you’re lucky, a million dollars.

People often mistakenly think that a meme can only be a replicable picture with text on it that everyday people use to convey a variation on a specific, nearly universal type message…like the fact that cats can’t spell. But technically, the term “meme” (coined in 1976 by Richard Dawkins) simply means a “package of culture” that is infinitely replicable and meant to be spread out to other cultures from the point of origin.  Pre-internet, this meant everything from regional slang to architecture were the types of memes that spread around the world, and still do. With the invention of the Internet, memes travel much faster and can have nearly limitless adaptations using all types of media.  It has also made it a source of messaging that is very attractive to another group: brands.

Many brands have taken advantage of the fact that these memes, whether an image, gif, video, or any other form depicting relevant pop or internet culture can deliver a message to a target demographic both cheaper and faster than traditional advertising. The ability to share through social media has made it a huge platform for pushing memes to brands’ audiences. A meme used by a brand may signify that they are knowledgeable and “in-the-know,” have a sense of humor, or maybe support a cause. 

The choice of meme by a brand can be just as important as their logo. People can sometimes associate a brand more accurately with a meme rather than an actual logo, which can make it a cultural phenomenon. We will probably never run out of the Dos Equis “Most Interesting Man in the World” memes since it can be applied to nearly every new event or situation. Being associated with a meme can mean the brand is trying to attract a particular demographic, such as Millennials, or cult classic following to help reach it’s desired target.

Reactive meme posts say a lot about a brand and the audience they are trying to reach.  These posts must be pushed out quickly to stay pertinent to the conversation.  Brands sometimes create their own meme in response to a cultural event, like the seemingly endless flow of memes that came from the World Cup when Luis Suarez bit an opposing player.  Memes like this insert brands into a relevant, current conversation that reaches millions fans while also helping them establish or maintain a consistent online voice.