Most meeting professionals I know are in my age demographic; they are either Boomers or Gen Xers. They may have children that are Gen Yers (better known as Millennials), but don’t encounter them on a day-to-day basis. They know this demographic is important to the long-term success of their conferences, but are confused about what really makes Millennials tick.
Here are some interesting statistics to help you better understand the Millennials as well as suggestions on how to use this information to your advantage at your next meeting.
Who are Millennials (Generation Y)?
The Millennial Generation was born between 1977 and 1992 and is commonly referred to as Gen Y. As of today, that places these individuals between 22 and 38 years of age.
The common characteristics of this generation are they are very comfortable with technology, believe in work/life balance and long to travel globally.
Facts You Should Know
According to Dan Schawel, a Millennial Brander, 86% of Gen Yers want career networking and job opportunities.
If you are holding an association event, match Millennials with attendees that can help them with their careers and if appropriate, turn the trade show floor into a mini job fair. Let exhibitors know that if they have career openings, it is appropriate to talk about them.
80% of all Millennials like face-to-face networking and according to MarketWatch research 77% said it was important to attend frequent face-to-face meetings.
There is nothing really new here – the major reasons attendees come to F2F events is for the content and networking options. Just be aware that networking and education is just as important to this crowd as with any other demographic.
Per a recent Eventbrite/Harris poll, 78% of Millennials would rather spend money on a desirable event experience than use that money for comparable goods and services.
The key here is desirable – which means the content, location and list of attendees must line up. Without these 3 indicators, this tech-savvy group will stay at home and watch a webinar.
Speaking of technology, make certain you have it throughout your event space. Be sure to include a variety of Apple rentals, Tablet rentals and Monitor rentals - including large touch screen monitors and video walls. This group is used to using this technology several times a day and will expect to see a variety of technology to tell your event’s story.
In 2015, 33% of all employees are Millennials. In just 10 short years, that number will grow to 75% worldwide according to Business and Professional Women’s Foundation.
This is a growth of 4.4% per year which should be no surprise as Boomers and Mature workers retire. However, this means you need to start including Millennials on content committees for your conference, make certain a subset of your presenters are from this generation and continue to look for ways to incorporate technology event rentals into the meeting.
27% of Millennials took six or more leisure trips in 2014 while 26% of those under the age of 34 years old, posted at least one negative review during that same time period, according to Phocuswright and Expedia.
What does that mean for your event? It means this segment is comfortable traveling by air and if they do not receive good service or something does not meet their expectations, they will be quick to move online and tell the world about it.
Use hashtags for your event and monitor all social channels. Respond quickly and appropriately. Publicize your hashtag and display your Twitter feed on the video wall, for all to see.
About Hartford Technology Rental
Whether you need technology equipment for a day, several days or a week for a large corporate event or conference, Hartford Technology Rental offers flexibility on the most advanced technology rentals to get you the right equipment when you need it and where you need it.