Elevating Chamber Events in the Experience Economy

From open mic nights to book clubs, painting sessions to chunky blanket making, speak-easy themed strolls to bonsai shaping at a brewery, today’s businesses are getting creative in bringing in the crowd.

And they have to.

Regardless of what the politicians on either side of the aisle are saying, costs have skyrocketed, and the average consumer is feeling the pain. They’re being more selective in how they spend their money.

For businesses to be competitive (especially ones that sell the non-necessities), they’re getting creative. However, the events are not always tied directly into the business. They are designed to provide an experience and bring in a crowd, building a community.

Business owners are increasingly recognizing people crave more than just products or services; they seek memorable experiences. This shift toward an "experience economy" presents a unique opportunity for chambers to reimagine their events as well to attract more engaged members.

The trend of valuing experiences over material possessions has also gained traction, among younger generations like Millennials and Gen Z.

The Rise of Experiential Spending

Recent surveys indicate that many consumers prefer to spend their disposable income on memorable experiences rather than physical goods. Millennials have shown a strong preference for experiences, with 78% stating they would rather spend money on an experience than a material item.

Why Experiences? Understanding the Psychological Drivers

The psychological drivers of this shift are multifaceted. Factors such as the fear of missing out (FOMO), social media influence and postings (we now have great insights into what people want to show us of how they’re spending their time and money. Many people want to be seen living their “best life” and that means getting pictures while doing cool things.), and a greater appreciation for emotional connections and lasting memories contribute to this trend.

Additionally, experiences are seen as more valuable because they create stories and memories that can enhance personal happiness and well-being. COVID further intensified this desire for connection and memorable moments, leading many to prioritize experiences that foster relationships and personal fulfillment.

This is good and bad news for chambers. It’s great because people want to be out there doing things. But, if you’re hosting the same old, same old types of events, they may no longer be producing the results you want. Attendance may be dwindling, and you may find you’re in competition with your members.

What the Businesses Are Doing

Many small businesses are rethinking their offerings. For example, bookstores are hosting yoga classes or writing workshops. Wine bars are hosting book clubs. Businesses are transforming their spaces into community hubs that provide enriching experiences beyond traditional retail.

These businesses are thinking about the interests of their ideal audience. Who likes wine? Book club members. It’s the perfect duo of sipping and sharing. Who reads? Writers. Let’s help them finish that novel and oh, while they’re here, maybe they’ll buy a book.

This approach not only attracts customers looking for unique experiences but also fosters a sense of community and engagement. It feels like the business knows just what they want. Now the relationship evolves from something purely transactional/sales-based to somewhere they are also entertained and welcome.

How the Chamber Must Adapt

Chamber pros know that chambers offer a lot more than just networking events. But many community members see them as the cocktail or coffee networking people. If you want to continue hosting social events, your events will need to become more experiential and creative.

If your local businesses haven’t tapped into experiences yet, you may not be feeling the crunch, but once they do, you’ll need to view events differently.

The traditional chamber networking mixer may no longer be enough to attract a crowd, especially if there's a cost involved. People are more likely to spend their hard-earned money at their favorite business, participating in an engaging event. This presents both a challenge and an opportunity for chambers.

Traditional networking and 1-2 drink ticket events are no longer compelling. Instead, craft events that create a lasting impression with unique venues, interactive elements, surprise performances, or themed experiences.

Create a multi-sensory experience by paying attention to visuals, sound, and even taste and smell. Consider unique decor, live music, and curated catering options. If all your events are catered by the same person (an in-kind donation) and you’re locked in to using them, talk with them about what you might do to change things up. Give them a theme or brainstorm some ideas. When people enjoy the creativity in your cuisine, the caterer will benefit as well.

Personalize the experience. Offer a range of breakout sessions, workshops, and activities to cater to diverse interests and skill levels within your membership.

Facilitate shared experiences. Design events that promote meaningful interactions and shared moments among attendees. Include icebreakers, group activities, and collaborative projects.

Encourage storytelling. Create opportunities for members to share their own experiences, challenges, and successes, fostering a sense of community and providing valuable insights. Give them the mic; make introductions.

Offer virtual and hybrid options. Expand reach and accessibility by offering virtual or hybrid events, allowing members to participate remotely while still enjoying a unique experience.

Leverage social media. Encourage attendees to share their experiences online, generating buzz and showcasing the value of your events. Go live from your events. Ask attendees questions. Get them on video. Proactively create content and look for “clip” moments where you can get video footage to use for the future. For instance, record the event set up and later use it as a background for a video quote, lesson, or testimonial.

Partnering for Event Success

Chambers have a unique opportunity to lead the way in creating valuable experiences for their members and the broader community. By incorporating elements of education, exploration, and entertainment into your events, you can attract a larger audience and foster deeper engagement.

This is not a “them against you” scenario, of course. When businesses create memorable experiences for customers through events, they increase sales and build community. You can show them how to do this (after all, you’ve been hosting events that build community for decades).

You can also share in your businesses’ success in the following ways:

Collaborate with Local Businesses: Partner with businesses offering experiences by either sharing some of the cost and co-hosting or putting them in touch with other businesses that can help them branch out into offering experiential events like cooking classes, art studios, or tours.

Focus on learning and development: Offer educational events that provide valuable insights and skills to attendees, such as panel discussions, guest speakers, or hands-on workshops.

Make it social media-worthy: Design events that are visually appealing and encourage attendees to share their experiences on social media. Think photo ops, cool backdrops, and hands-on experimentation (who doesn’t want to show their social media audience how messy it is sitting at a potter’s wheel?). Social media posts and shares will help increase awareness and attract a wider audience, perhaps even a new demographic.

Embrace technology: Utilize technology to enhance the experience. Consider using live streaming, virtual reality, or interactive polls. If this isn’t in your budget, talk to a member who may be able to help or sponsor the cost.

Showcase Local Talent: Use local musicians, artists, artisans, or performers at your events.

Support the Community: Encourage attendees to patronize local business events, creating a positive economic impact and enriching the overall experience. Make sure their events are on your chamber calendar and/or highlighted in your newsletter. The latter may be an opportunity for non-dues revenue if you charge for newsletter spots.

These days, financial constraints are common. With the younger generations prioritizing experiences over material possessions, businesses are adapting. We're seeing a shift toward events that offer more than just shopping or services. Businesses are teaching, exploring, and entertaining their customers to build deeper connections and there’s a place for the chamber to do the same.

Yes, networking is still important. But by adopting an experiential mindset and creating experiences people value and remember you can strengthen your relationships with members, attract new businesses, and foster a thriving business community.

How you make your members feel will resonate with them long after the last glass is washed. Embrace the power of experiences and watch your events transform from networking necessities into sought-after opportunities for connection, growth, and inspiration.

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