3 Lessons in Millenial Marketing from Taylor Swift
Trying to pump up your marketing to younger generations? Here are a few tricks straight from millennial marketing expert (and pop music superstar) Taylor Swift. First, capitalize on the “fear of missing out,” or FOMO. Creating a bit of exclusivity with your brand or product can go a long way toward igniting interest. Taylor is also a pro at creating authentic, heartfelt relationships with her fans. Appreciate your audience and you’ll have loyal customers who love to promote you on their own. Finally, a 2014 Harris study revealed that 78% of millennials would rather spend money on experiences than on tangible products. So focus on creating ‘experiences’ rather than ‘things’ to draw in those millennials. (Marketing News, 02/2016)
Want to go skiing with Icelandair’s CEO?
Icelandair is making flights to Europe a lot more fun with its new “Stopover Buddy” program. Travelers opting for a short break in the flight across the pond can stop in Iceland for up to 7 nights without affecting ticket prices, and they can sign up to be paired with a Stopover Buddy from Icelandair’s staff. The airline has catalogued the interests and local knowledge of their employees in order to match them up with traveling customers who want to explore parts of Iceland on their way to Europe. Ski fanatics, listen up: the airline’s CEO, Birkir Holm Gudnason is also participating and offering a tour of his hometown plus a day of skiing Iceland’s backcountry. The best part about Icelandair’s Stopover Buddy program? It’s free with your ticket purchase! (Travel Pulse, 02/04/2016)
Study: Airbnb poses threat to hotel industry
Airbnb is growing in popularity, numbers and revenue, and the hotel industry is starting to take notice. A new study by CBRE Hotels’ Americas Research found that travelers spent $2.4 billion on Airbnb accommodations between October 2014 and September 2015. Though that number is less than 2% of all hotel earnings, it shows a significant jump from the previous year. Los Angeles, San Francisco, Miami, Boston, and New York (which was also named the market most at risk for hotels) earned the most revenue for Airbnb across the U.S. Critics are calling for more regulations, citing data that 30% of Airbnb’s revenue comes from full-time operators (360+ days a year) rather than its traditional “home-sharing” base. (USA Today, 02/02/2016)