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September 14, 2016

Portugal: What Do Young People Look for in Events?

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The perception of the benefits that young people look for in an event implies understanding the concept of the event to which we refer. Being an event that occurs in a given space, this can take various forms and typologies (parties, congresses, concerts, conferences, festivals, etc.). Realising the value vectors that this market segment searches on their experience with the various events they involve with is assumed as a complex task, and at the same time challenging, since it is a segment with permanent behavioural changes.

young workers
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Usually, when we talk about events we associate this concept to the need for a physical space of accomplishment. However, if we want to reach youngsters, we must be aware of the places where these people move. Several studies make clear the rate of young people who live under and digital sphere. Each young person uses an average of more than one device with internet, knows the various "search engines" and has several accounts in different social media. This indicator should lead us to consider the need to hold events built in the digital sphere and at the same time, it tells us that these platforms are reference vehicles in the communication process of the numerous events that take place.

Associated with this new digital age we also have a segment that is a new wave of technology fan - that is, that can generate interaction and co-creation. This line of thought goes beyond the previous perspective of technology only as a source of information.

Taking the show sector, it is interesting to note that the various statistics available in Portugal indicate that rock / pop concerts lead in terms of number of viewers, with some similarity with theatre and traditional and popular music. However, concerts have an overwhelming positive difference as regards the revenue generated, which has a great importance as concerts are mainly attended by an audience aged less than or equal to 30. These data mean, extrapolating, that young people invest more in entertainment, compared to other segments.

Events also present a cross trend to other business areas related to Marketing 3.0. In this line, the consumer is attracted by concepts of "product" that contribute to the world around them being better at all levels. This principle should lead event organisers for a new strategic logic of collaboration with the surrounding environment, since helping to build a better world means having more fans.

Values are also an important element to consider. If, in the past, it was important to have a good product and differentiation topics, today it is vital to be associated with positive values for the viewer. In the context of events, to target the younger audience involves using criteria related to values and this approach goes beyond the simplicity of demographic and psychographic criteria usually considered. Talking about values is talking about a new logic that encompasses the spiritual dimension of individuals and not just its functional side and its emotional characteristics. This trend requires new approaches in construction of the "product" associated with global events. Joy, pleasure, comfort and freedom are some of the main feelings associated with the younger segment.

Collaborative marketing logic is an unavoidable reality. If, historically, initially we moved from a logic of "transaction from one to many" to a concept of one-to-one, the "transaction one-to-one", nowadays it is crucial to consider a typology not just transactional, but collaborational "from many to many". This assumption implies facing a strategy for communities and tribal logic, resulting from the values and concept inherent to the event itself.

According to these assumptions, we can then indicate some important trends to consider in the youth segment related to the events area: they are digital and new wave of technology fans, they move in the communities, social networks and tribal attitude logic; they like going to concerts and invest significant resources in this specific entertainment product; they are associated with brands that contribute to the concept of "a better world" and are concerned about the spiritual side of life and values; they have a strong connection with the brands they truly love and the most important metric is now the number of fans and not the number of consumers.

Pedro Mendes, teacher at IPAM – The Marketing School

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