Fear of Missing Out: A Driving Force Behind Event Marketing
Have you ever been stuck sitting at home while all your friends are out at a party, concert, or event, only to find yourself wishing you were there? Although this sentiment is a bit of cliché and the driving story line behind many a teen movie, in reality, fear of missing out (FOMO) has been a call to action for generations. However, through the advent of social media, FOMO has never been a more powerful driving force in impacting the decisions of consumers, and no generation is more affected than Millennials. In fact, a 2014 Eventbrite survey found that 78 percent of Millennials would spend their money on a “desirable experience or event over buying something desirable.” According to that same survey, 7 in 10 Millennials experience FOMO, and while that proves it’s powerful, it doesn’t show how it can it be harnessed. Fortunately, we can answer that question.