College students jump at the opportunity of being part of a brand.
They are not satisfied in simply talking about a brand and would rather interact and contribute to a brand. Social media has opened a new gateway for brands to interact with their consumers and encourage feedback about their products. Companies such as Pringles, Lays, Starbucks, and McDonalds have all reaped profit benefits by having consumers contribute flavor ideas. Experimental marketing gives students a voice to contribute their opinions and ideas, and temporarily makes them the center of attention.
They want experiences that prompt an emotional response.
Royal Caribbean Cruise Lines won over their customers in 2013 when they introduced virtual balconies to their passengers – a live video stream of ocean views outside their cabins. Landshark Lager handed out free samples of their beer at popular Las Vegas pool and hotel spots, capitalizing on the memory of relaxing by the pool on a sunny day and cooling off with a refreshing beer.
These experiences drive sales.
An Eventbrite study discovered that almost 70% of millennials surveyed said one of their biggest fears is missing out (coined as FOMO – Fear of Missing Out by college students). Social media and the Internet provides a greater access to all sorts of information about fun things to do or see online, which prompts the desire to do or see things in person. The experience culture allows your brand to sell experiences rather than products. An example of this is personal camera company GoPro, which incorporates customer footage and videos to advertise their cameras both on and off paid advertising channels.
Experimental marketing is extremely valuable to millennials because it broadcasts them as a member of a community instead of a customer, and provides them with shared experiences that prompt an emotional response. For more information on how to market to college students, contact us at OnCampus Advertising.