Millennials and Startups - What Their Impact on Hospitality Means to You!
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Millennials and Startups - What Their Impact on Hospitality Means to You!
- 1. # CSES2015 Millennials & Startups Page 1 March 8, 2015 1 What Their Impact on Hospitality Means to You
- 2. Hello, my name is Claire Harrington, CMP Manager, Communications Social Tables Millennial, circa 1987
- 3. # hashtag
- 4. # hashtag Page 4 Audience Presenter Agreement Get Out of Jail Free Card... ● You are free to leave any time (just no tomato throwing, please) Join the Conversation... ● Tweet at me @charrington_28 or @socialtables Steal Everything! ● Take as many photos/notes as possible and share them! ● I can send you the deck as well > claire@socialtables.com
- 5. Presenter-Audience Agreement # hashtag Page 5 ● Understand the impact of millennials on the market, and how you should respond to their presence. ● Learn about 7 hospitality tech start-ups who are employing millennials and rapidly succeeding. ● Find out how to use the techniques and business strategies of startups in order to make your company more successful now. Learning Objectives
- 6. # hashtag Page 6 First things first...
- 7. # CSES2015 Page 7 Who Are Millennials, Really? 7
- 12. # CSES2015 Page 12 > Apply Subscription Model to your events > Partner with vendors to provide comprehensive convenience Takeaways to Consider:
- 14. # CSES2015 Page 14 > Publish Reviews of Your Events > Affordable Event Packages Takeaways to Consider:
- 16. # CSES2015 Page 16 Netflix: $25.6B Tesla: $23.7B Macy's: $19.7B WhatsApp: $19B Whole Foods: $19B Gap: $18.9B Sony: $17.7B United Airlines: $15.7B Facebook Valuation: $200 BILLION
- 17. # CSES2015 Page 17 80% of smartphone owners check their device within 15 minutes of waking up. Our online presence subconsciously influences our behavior. Leverage this on social media.
- 18. # CSES2015 Page 18 > Don’t talk at. Talk to. > Distribute content. > Build community. > Stay on Top: Snapchat’s Discover. Takeaways to Consider:
- 20. # CSES2015 Page 20 > Break out of the health-food only trend. Make a health track. Offer health breaks, juicing demonstrations, fitness coaches, gamification through coordinated races, zen room, nap time, intramural teams. Takeaways to Consider:
- 21. # hashtag Page 21 Exercise: > What is one change you can make tomorrow to better position your events in front of millennials?
- 22. # hashtag Page 22 7 Hot Startups Impacting Hospitality 22
- 23. # hashtag Page 23 EventBrite Disruption: Ticketing Intrigue: B2B and B2C. Self-service ticketing company that lets users create, promote and find events. Lets companies promote, plan and track their own events. Married leadership. IPO expected in 2015. Impact: $199.6 million; 200 million tickets sold
- 24. # hashtag Page 24 WeddingWire Disruption: Weddings & Events Intrigue: B2B and B2C. Engaged couples can source and plan their weddings. Companies can promote and track their business while managing their clients. Impact: $31.1 million; 2.5 million reviews of 40,000 global businesses
- 25. # hashtag Page 25 Luxe Disruption: Valet Intrigue: Based on GPS, you tell the app where you’re going, and a Luxe valeter will be there waiting for you. Max $15/day. Marketplace-style business. Impact: $25.5 million; 90% MoM Growth
- 26. # hashtag Page 26 Uber Disruption: Everything, today, Starwood Hotels & Resorts Intrigue: To participate, Uber users who sign up to become new or are existing SPG members simply need to link their accounts at spg.com/uber. After completing a qualifying stay at a Starwood hotel, SPG members can start earning one Starpoint for every $1 spent on Uber. Impact: $5.9 billion; 72% of the more than 290 cities where Uber operates feature a Starwood hotel
- 27. # hashtag Page 27 Disruption: On-Demand Delivery Intrigue: Immediate gratification, no headache for last minute needs. Impact: ● Postmates ● What You Want, When You Want (WunWun) ● Amazon Prime Now ● Uber ● Magic On-Demand Delivery
- 28. # hashtag Page 28 Disruption: Catering Intrigue: Office managers can just give Chewse a budget, the number of people in an office, and any dietary restrictions that employees might have. Chewse then builds a meal for users and delivers to offices at a pre-determined time. Impact: $1.7 million; 100,000 meals delivered Chewse
- 29. # hashtag Page 29 Social Tables Disruption: Room Diagramming Intrigue: Collaborate on floor plans and attendee management in the cloud with intuitive software. Provides flexibility and advanced communications between venues and planners, as well as planners and clients. Impact: $9.6 million; 350,000 events created
- 30. # hashtag Page 30 Exercise: > How can you leverage one of these startups to better your business tomorrow? > How can you incorporate these startups into your events to attract attendees?
- 31. # hashtag Page 31 The Importance of Culture 31 Cultivate Loyalty with Millennials
- 33. # hashtag Page 33 Startups embrace culture. How can you apply their business practices to your event to attract millennials?
- 34. # hashtag Page 34 Titles, Schmitles.
- 35. # hashtag Page 35 Personality > Suits
- 37. # hashtag Page 37 DDO: Deliberately Developmental Organizations > Learning over product Lunch and Learns > Showcase strengths, bring in influencers Internal Conferences > STConf + PCMA Education Allowance > Conferences, Toastmasters, Meetups Leadership > Host meetups, speak at conferences, CLO, Learning Coordinator Professional Development
- 38. # hashtag Page 38 We want to learn. We want to be impactful. We want to prove ourselves. We want to become better versions of ourselves. Provide us with direction, accessibility, growth, and ownership. Earn Loyalty Through Trust
- 39. # hashtag Page 39 Exercise: > How can you incorporate startup culture into your business to attract millennials? > How can you incorporate startup culture into your events to attract millennials?
- 40. # CSES2015 Page 40 The Millennial generation is the largest in US history and as they reach their prime working and spending years, their impact on the economy is going to be huge. Millennials have come of age during a time of technological change, globalization and economic disruption. That’s given them a different set of behaviors and experiences than their parents. They’re also the first generation of digital natives, and their affinity for technology helps shape how they shop. They are used to instant access to price comparisons, product information and peer reviews. They are dedicated to wellness, devoting time and money to exercising and eating right. Their active lifestyle influences trends in everything from food and drink to event attendance. Lessons Learned:
- 41. # hashtag Page 41 Stay In Touch! ● claire@socialtables.com ● @charrington_28 ● 309.721.1225