It's the Age of Beychella! What Does That Mean for OOH?

Millennials are notorious for holding tightly to their purse strings but researchers have found that the way to reach them is through the quotgoout economyquotamp160 After all 78 of Millennials spend money on live experiences and more brands are developing business models based on people leaving their home and going outdoors and experiencing quotmoment in timequot eventsThe shift of consumer spending towards experiences isn39t just a Millennial thingamp160 The quotgooutquot economy has transformed consumer spending and the advertising industryamp160 This is because of consumers39 changing relationship to social mediaamp160 People want to show where they39ve been and who they39ve seen not what they have quotboughtquotamp160 I mean if you weren39t Instagramming your time at Coachella were you even really thereBut events and experiences aren39t just status symbolsamp160 In fact researchers at San Francisco State University found that there39s a direct relationship between the extension of happinessamp160and spending money on events or experiencesamp160 You can carry experiences with you for a lifetime whereas buying an object brings fleeting moments of happinessSo how can you make the most of this nomad trendamp160 Which brands are taking advantage of the goout economyYour Best Memories are Made CourtsideSeventy percent of consumers spend discretionary income on movie tickets sporting events museumsamp160and concertsamp160 There is a huge opportunity for sports teams media companiesamp160and event sponsors who create experiences to connect with their audience through OOH and give them something to rememberFor example one of the advantages of OOH is geotargeting and the ability to display your message to your specific audienceamp160 That39s why we are so impressed withamp160this campaign by the Kansas City Royals that helps inspire hometown pride while getting sports fans off their couch to watch their team win another championship IRLSimilarly SeatGeek39s OOH campaign premiered in Times Square the epicenter of where theater geeks and movie buffs will see their messageamp160 For brands focusing on the goout economy it39s all about location location locationForget Staycations and Enjoy Stateside TravelThe travel industry is expecting to see a 33 increase in consumer leisure travel in 2018amp160 At the same time the travel industry39s ad spend is expected to skyrocket to 727 billion by 2019amp160 When it comes to consumer trends staycations are out and travel is definitely inWhen creating an effective OOH tourism campaign it39s all about defying consumer expectationsamp160 We loved the idea behind New Orleans39 campaign quotLeave with a story not a souvenirquotamp160 becauseamp160who wants Mardi Gras beads rather than the bragging rights of spending a week in the French Quarteramp160 Meanwhile OOH also gives the tourist industry an opportunity to rebrandSouth Dakota39s quotGreat faces Great placesquot campaign takes its rugged reputation and transforms South Dakota into an untouched beautiful destination for adventure seekersamp160 Who wouldn39t want to see themselves against the night sky as their backdropDon39t Leave the Kids at Home By Land or By SeaParents are leading the way when it comes to spending more time and money on experiencesamp160 Did you know that modern parents are spending on averageamp160twice as much time with their kids as parents were 50 years agoamp160 Instead of quotmetimequot parents are trying to find more experiences that the whole family can enjoy togetherThe family entertainment industry is expected show a 17 billion increase in revenue this yearamp160 The Florida Aquarium and Kansas City Zoo both ran fully integrated campaigns across social media and OOH to make sure that parents and kids saw their message and engaged with their brands Visitors even took photos of themselves in front of these billboardsamp160 The brands saw over 18 million mentions across their social media platformsAs summer approaches there are more opportunities for brands to connect with their audienceamp160 The quotgoout economyquot doesn39t only affect one demographic it spans generations parentsamp160and kids and has the power to bring people togetheramp160 Through geotargeting stunning visualsamp160and crosschannel marketing campaigns that leverage OOH marketers can transform the trend of the quotgoout economyquot into a classic marketing strategy that39s here to stayClick the social buttons above or below to share this story with your friends and colleaguesThe opinions and points of view expressed in this content are exclusively the views of the author andor subjects and do not necessarily represent the views of MediaVillagecomMyersBizNet Inc management or associated writers

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It's the Age of Beychella! What Does That Mean for OOH?

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Carly Zipp

FEMA and the Ad Council Encourage AANHPI Communities to Enhance Disaster Preparedness in New PSAs - Ad Council InSites

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It's the Age of Beychella! What Does That Mean for OOH?

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Carly Zipp

FEMA and the Ad Council Encourage AANHPI Communities to Enhance Disaster Preparedness in New PSAs - Ad Council InSites

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