Consumers’ mindset and behavior behind how and why they spend their money has vastly shifted over the past few years. They still value owning “things,” and they still spending money on material items, as a society, across all ages and income levels, they increasingly trending toward experiences.
A recent article in AdAge touched on this trend: “Advertisers are thinking beyond channels like TV or outdoor or online, and starting to focus on how to create moments of enjoyment for their customers.”
The problem most brands have is they’re too focused on creating instead of sharing. As brands, you don’t control or dictate the experience. Take a step back, allow consumers to invite you to participate and then ask to share those experiences.