You have to love marketers. Every few months a new catch phrase captures their attention and suddenly everyone is seeing the term pop up in their email subject lines like it’s a brand new idea, discrete and different from what’s come before and promising new riches to companies that figure out how best to leverage the trend for their wares. The “experience economy” is one of those terms being mooted as what the next big target – Millennials – is living in and how they are choosing to spend their money.
Because they’ve been saddled with student debt, and are priced out of the housing market in most places where they also stand a reasonable chance of getting a job (though probably not with much security) what this coveted and growing cohort of individuals likes to do is “have experiences”, hence the term. I would add that they also really like to share the experiences – of travel, shopping, going out, eating out or cooking at home with friends -across social media on the myriad platforms they engage with hourly.
If experience is the new black, photographic evidence of your experience is the new way to display your wealth. Despite another (complementary?) trend towards minimalism, judging from what is shared on Instagram there still appears to be a strong appetite for furnishing social proof of a non-materialistic, world travelling, lifestyle replete with lots of friends, good food and pithy moments of communing with nature. In the connected, sharing economy, one of the most liquid commodities is photography.
Let’s take a Selfie together
Experiences today are easier to share than ever before. It doesn’t take much effort to snap a Selfie in front of a made-for-postcards backdrop (much easier than actually sending a postcard!) and post it online. I can’t really share my home with all 778 of my Facebook friends, regardless of how many dinner parties I want to host, but I can easily and quickly share photos of the meals I’m cooking and get almost the same level of neuronal strokes that make me feel good about myself as I would if I had actually invited them all over for dinner.
In fact, the sharing of the experiences seems as important – or more – than the having of it in the first place. Does a tree falling in a forest make any sound if no one is around to hear it? The enigma can now be answered in as much time as it takes you to open up Snapchat with your thumb: NO. For the digital nomads living and working in the experience economy, if you did something and didn’t share it, it didn’t happen.
The more images people have of themselves, preferably in exotic locales with lots of different (ideally good-looking and/or famous) people, the greater their apparent wealth. For businesses trying to decode this trend before it transmutes into something else, the trick is weaving your brand or product into these snapshots of shared experiences without it looking like crass product placement. Doing so successfully involves creating a lifestyle around your brand that your prospects – or the people who influence your prospects – accept as authentic and real enough to want to incorporate into their own stories. It also means giving them something fun to photograph.
I’ll add that to My Story
In the experience economy, where social media are the new nation states and the social proof created through photos and videos, the new global currency, creating opportunities for good photos can grab a lot of attention cheaply.
If you’re a brand hosting an event, this can be achieved by paying a lot more attention to lighting and the visual elements of your set up than you might have done previously. It also doesn’t hurt to offer good quality booze, hire local chefs and serve original and satisfying food as well but making sure you help people take, get and share great pictures of themselves is critical.
I’ve covered hundreds of events and I’ve observed that no matter what the theme, all people at events have one thing in common: they want to get past that awkward, initial standing around phase fast. Having something fun to do (and good to drink) – whether that’s an onsite photo booth or some kind of custom prop that ties into your brand – helps loosen up the crowd and gives them a chance to start generating and sharing photos of their experience.
Are there fun props you can custom build that tie into your brand and are fun to pose with? Think giant shoes people can climb into, or maybe a couch shaped like a bra if you’re trying raise awareness for breast cancer. What about filling an old cast iron bathtub with your product…Setting up old school amusement park games with a twist? Anything normal turned supersized works, as would anything suspended or hanging from the ceiling. Can you implement a viewing platform somewhere higher up to afford interesting views or angles? Selling a tech-related product? What about setting up old style phone booths – the kind that used to be on every street corner but are now disappearing. Irony is still in (sort of). I can think of countless more ideas for brands with photographable products or services that can benefit from the experience economy – anything from booze to insurance. (I love coming up with ideas like this – just get in touch)
In the end, having experiences is just shorthand for story, and everyone today is engaged in telling and retelling their story across varied social media channels in the universal language of images. Words are being replaced by icons, emotional responses measured by the size of your emoji and lives measured by the breadth and reach of social followers.
Giving your audience/market something new, fun, and interesting to do, document and share is a powerful way to connect with and stay connected to the people who matter to your business most.
If your company is in the business of putting on events of any kind (a product launch, sponsored reception, brand elevating evening, etc) you are now in the business of creating experiences. Get it right and one of those experiences everyone is sharing just might be a photo of them using something you’re selling.