What do you think of when you hear BMW? Luxury? Money? Well yeah, those are pretty valid thoughts. I bet you don't think of Generation Y, the 20- and 30-somethings, buying a brand new BMW. But thanks to social media marketing, more and more of the younger generation is getting into the luxury car industry.
BMW is targeting the younger market with social media campaigns on Facebook and Twitter. And luckily for them, they're eating it up! "BMW claimed a $110 million revenue gain for its 1-Series line by wooing customers with a Web-only campaign." BMW has 54 different Facebook pages each targeting a specific audience. They were even ranked number one in an aptitude index showing the effect of social media on luxury brands. Clearly, BMW is using social media marketing to its advantage.
BMW also uses traditional marketing to also appeal to their more traditional audience. In order to grow the brand, they must grow their marketing to appeal to multiple audience. By using both social media marketing and traditional marketing strategies, BMW can gain a larger audience and potential buyers. “We see social media as a key component to all of our marketing and communications strategies,” said Trudy Hardy, Manager BMW Marketing Communications and Consumer Events.” I think Trudy Hardy knows what she's talking about.
Sources:
http://www.sfgate.com/business/article/Social-media-driving-young-buyers-to-luxury-cars-3631074.php
http://www.bmwblog.com/2011/06/02/bmw-ranked-1-in-social-media-aptitude-by-digital-innovation-think-tank-l2/
Planning an event for multiple generations can be challenging. Take Generation X/Y vs. Baby Boomers. They want different things. They're different ages. They were raised differently. So how do they come together and celebrate? My parents are part of the baby boomer generation and my older siblings are part of generation X/Y. Since I'm much younger than my siblings, I fall into a different generation. But I can see the differences between them and my parents. The 30-somethings and the 50-somethings do not party the same way.
When planning any event, a planner must consider their audience demographics and psychographics- or for us normal people, who they are and how they think.
Let's take two events that defined these generations: Woodstock & Lollapalooza
Woodstock:
The music- rock
Venue- 600 acre farm in NY
Lollapalooza:
The music- alternative rock, heavy metal, punk rock, hip hop + dance & comedy performances
Venue- Grant Park, Chicago, IL
The biggest difference I see is simplicity. Woodstock was in a field in the country and featured one united genre of music. Lollapalooza is in the middle of the city with many different musical and entertainment acts. It's illustrative of the way society has changed from generation to generation. Generation X/Y is much more busy and cultures are more intertwined than they were for the Baby Boomers.
What they have in common: pretty much every generation likes coming together with common interests and celebrating.
If I were planning an event for both of these generations together, I would mix the classics and the trendy modern culture in a "Generation Journey" incorporating music and culture from the beginning of the Baby Boomers' time to today. And I would plan it somewhere out of the way to get back to the simplicity and experience of an organic music festival.
