Why live experiences matter? Why do they seem to be permanent in our societies? Simply because live experiences and live events create memories that stay with us for many years.
These are the observations of Julia Hartz, co-founder of Eventbrite this week at the Future of the Experience Economy event in London.
“Live experiences are here to stay and the advent of technology is simply there to enable great connection,” says Ms Hartz.
Eventbrite, she said, has helped organised 80 million tickets in the UK alone last year, putting them in the privilege position to observe the new patterns of consumption.
Here are 7 takeaways from her presentation and my personal advice to implement these insights into your company’s strategy:
1. Technology and social media in particular, far from being virtual is fuelling people to go out and do stuff with others.
Implication: Provide opportunities to your clients to meet offline if that is not yet the case and share some moments together
2. People connect to each other, not to content or to technology. They are looking for a sense of belonging.
Implication: Content marketing gurus, pay more attention to the connection you can establish with your content rather than just sharing the content as an end in itself
3. 1 in 2 people say they would pay more for the same menu at a pop event than at restaurant.
Implication: Test a pop up event with a sample of your offering and see what happens. Connect it with something fun that is going on in your industry.
4. There is a Cultural shift specially from the Millennials, the next generation that will command consumer spending, to move away from materialism to experientialism. They don’t want to acquire things but want an experience to provide a sense of connectedness and identity.
Implication: Plan in your business model a way to add a subscription based model or a recurring service for your clients to use at their convenience rather than a one-off purchase.
5. Contrary to popular belief, livestream can increase ticket sales, and not reduce them. Why is that? Because of FOMO (fear of missing out). 1 in 3 people share content during an event and only 1 in 4 after the event.
Implication: Livestream some fun moments in your business as well as all or part of your main events to get a higher engagement and free publicity. Use Facebook live, Periscope or other technology to experiment.
6. Selfie is the new autograph. It’s the ultimate validation of fans
Implication: Organise contests to get your fans/clients to take a selfie with your brand to share with their friends for free advertising (it implies that you have a cool brand!)
7. Virtual Reality is fast becoming the new way to have a live experience whilst sitting on your sofa with a packet of crisps
Implication: Explore how to add Virtual Reality to enhance the experience of your product or service for special occasions.
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About Francine Beleyi
Francine Beleyi is a digital strategist, change consultant and entrepreneurial journalist who helps businesses thrive in the digital age. who helps businesses thrive in the digital age. She spends her days speaking with and studying the most successful entrepreneurs in the new economy, and sharing her findings with those who are open to new ideas and want to increase their results. Follow her on Twitter @FrancineBeleyi.