Understanding the Minneapolis Market and Economy
“It’s really hard to get people to move to Minneapolis, and it’s impossible to get them to leave.”
Although not entirely true, this old adage about one of the most unique metros in the United States has some merit. As most of the other large metropolises in America have struggled with increasing disparity between the rich and the poor and shrinking levels of class-mobility, Minneapolis and it’s greater metropolitan area have fought off similar trends more valiantly over the last half century.
Yes, gaps in wealth are growing, but Minneapolis’ ability to hold onto its college graduates, share wealth throughout the Twin Cities districts, and keep educated managers at every level from leaving the area make it somewhat of an anomaly within the larger U.S. economy. Over the last 60 years, 40 Minneapolis-based businesses have cracked the Fortune 500 list and this is largely due to the city’s extremely low rate of outflow. For all of the financial growth within the city over that time, Minneapolis has managed to keep costs of living and fiscal inequality relatively low compared to other metros.
What does this type of market mean for promotional staffing agencies, businesses, and the products they are trying to sell? It means that Minneapolis has a strong “homegrown” community and people here know inauthenticity when they see it.
Economic & industry landscapes
If you haven’t heard, Minneapolis has also recently become one of the hottest tech hubs in the United States, ranking 4th in average salaries within the tech industry behind only San Diego, Boston and the Silicon Valley metro area according to Forbes. This has fueled excitement and energy within the region and will only further contribute to the city’s ability to keep homegrown talent from going elsewhere.
The Minneapolis-St. Paul metropolitan area is home to a number of professional sports teams, including the Vikings (NFL), Twins (MLB), Timberwolves (NBA), Wild (NHL), Lynx (WNBA) and Minnesota United FC (MLS). Super Bowl LII will be played on the Vikings home field at U.S. Bank Stadium in February of 2018 and the game has already had a distinct impact on Minneapolis’ infrastructure and countless branding strategies in preparation for the big event.
In order to keep up with the Millennial’s market demands, craft brewing continues to grow at an astounding rate throughout the Minneapolis-St. Paul region and the industry as a whole has contributed over $1.3 billion to the Minnesota economy. This has created a more challenging landscape for household brands to navigate, but we view it as a opportunity to raise our game.
Minneapolis is also rich with innovators and an educated workforce. Studies have ranked the city as high as 2nd in the U.S. in terms of literacy, further challenging brands to get creative with their approach to this market. Having a unique selling proposition (USP) is imperative.
Promotional Event Staffing in Minneapolis
Boosting sales in the Minneapolis market requires thorough planning and a defined strategy in order to capitalize on the most receptive audiences for your product or service. What might sell to young professionals in Uptown, or the up-and-coming North Loop, may not resonate with the corporate crowds of the downtown business district or the diverse, industrial and “neighborhood-y” Northeast Riverfront.
Working with a local agency is your best bet for providing consumers with an authentic, “homey” atmosphere that the Minneapolis market requires. Finding one of these agencies, however, can be a bit of a challenge. There are a handful of nationwide agencies that offer services in Minneapolis, but do their brand ambassadors and/or models work and live in the Minneapolis metro? One of the easiest things to get wrong with a live promotional event is hiring a team that doesn’t understand the culture or core values of the region you are holding your event in.
8 Benefits of Hiring Local Promotional Staffing Agencies to Run Your Event
At Modern Talent we offer a wide variety of services including Promotional Models, Bar Promotions Staffing, Brand Ambassadors, Event Staffing, Guerrilla Marketing, In-Store Product Demos & Tastings, Trade Show Staffing & Promotional Models, Wine Professionals and most importantly: we are proud to call Minneapolis our home.
Growth in technology and increasing travel costs have threatened to make in-house promotional event teams a thing of the past. Fortunately, there is hope if your business operates in Minneapolis! Our remote capabilities allow us to have well-trained, versatile and local models and brand ambassadors to help brands promote their products in 13 states throughout the U.S., with Minneapolis being one of our most prioritized markets. We strive to pair talent that is local to your community to create a more personalized and homey experience for consumers and believe that by doing so gives us the best chance of growing sales at your events.
To learn more about Modern Talent and the services we offer please visit our website at: moderntalentusa.com. If you would like to book Modern Talent for your next event, please click here.
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