Well the team is back with a sunburn and new-found appreciation for the Tango. This years’ World Lottery Summit in Buenos Aires was a success and there are lots of stories and insights to share.
One keynote speaker that stood out to us was Jeff Fromm. His focus was on reaching millennials and defining what made them different than other age segments. What were their interests? How did they behave? What did they value? All of these questions could be explained in the concept of Millennial Mindsets which will be explained shortly. The Genera team couldn’t help but nod our heads throughout this presentation because his insights were so obvious and yet seldom considered in the lottery space. This target segment has grown up with the internet, with information at their fingertips, with the ability to communicate with anyone from anywhere at any time, on multiple devices. Their lives are vastly different than the generation that preceded them, so how could we think that the same products and content would appeal to them?
Let’s look at these ‘Millennial Mindsets’ and how they apply to the lottery landscape:
1. Social Circle- Conversational and Participative
They are a highly social group who are passionate about the brands that they identify with and will share this to their peers. Can you see your lottery being part of their cultural conversations?
2. Self- Emotional Connection
What they do has to be meaningful, to resonate with them. Does your lottery allow for a personal or emotional element in play?
3. Innovative- Reinventing
See a gap in the market? Come up with something to fill it. Feel that whatever exists could be better? Improve it. Millennials look to find solutions to problems. The world around them is never static, but continuously evolving. ‘The Same Old’ doesn’t appeal to them. What has your lottery done to show that it improves and reinvents itself?
4. Trusted- Puts Consumer Needs First
There are brands that have consistently shown their appreciation to their customers and motivation to a great experience. Can you say your lottery has done this?
5. Purpose- Adding Good
They have a strong moral compass. They want to know that what they do improves the lives of others. Do you make a point to share who benefits from the proceeds of the lottery? Would you consider the good causes you give to a selling feature of your games?
6. Accessible- Simplifies My Life
They want products and services that are hyper-useful and hyper-convenient. Can they play with ease? Do they feel the benefits of playing your games?
It was believed that Einstein once said: “The definition of insanity is doing the same thing over and over again and expecting a different result”. While it now turns out it actually wasn’t him that said it, I think whomever said it was a pretty smart guy. When you market old games in the same old ways, you get an aging player base. Let’s consider our target market and adjust our approach to appeal to them!