The way companies do business is changing along with evolving demographics. We see this every day in corporate hospitality. What used to appeal to clients 20 years ago doesn't always work with new clients who tend to see the world differently. And like nearly every other industry, those of us in corporate hospitality have to be especially cognisant of the millennial generation. We need to be able to adapt to the millennials who are now taking over the executive positions being vacated by retiring predecessors.
With that in mind, we believe there are three ways we can make thecorporate hospitality environment better and more inviting to this core group.
The millennial executive sees branding through a slightly different lens. Where older executives tend to view branding as a simple matter of building and maintaining customer loyalty, younger executives are more apt to tie branding and lifestyle together. Corporate hospitality for the millennial generation needs to be looked at the same way.
Millennial executives looking to host corporate hospitality events are doing so in order to solidify their brands in the minds of guests. But it should be done with lifestyle branding in mind. Hospitality providers like DTB play a role here in that we can match the hospitality events we offer with the lifestyles our clients are trying to promote in their branding.
There may be no more powerful marketing tool in the world right now than social media. Social media's inherent power can, and should be, incorporated in the modern corporate hospitality mindset. In other words, hospitality providers should be engaging their clients through social media. They should be using social media as a conversation tool to keep clients engaged even when they have no events planned.
Lastly, we know it's absolutely imperative that hospitality providers be able to work with customers face-to-face. Still, there is room to bring mobile technology into the equation. Our industry needs to begin introducing mobile options for scheduling events, modifying plans, etc. Allowing millennial executives to interact via mobile platforms will only encourage them to utilise corporate hospitality more.
The world is changing right along with its demographics. Those of us in the corporate hospitality sector need to keep up with those changes, or we risk falling woefully behind.
Return to DTB Blog