The term Millennial was initially coined by Howe and Strauss to describe anyone who would turn 18 in the year 2000. However, since then the term has been expanded to include anyone born between 1982 and 2004.
The millennial group now ages between 14 and 36, with the older end being financially successful and thus being able to contribute to the economy. In America alone, the millennial bracket spends $60 billion a year. This is no partly amount and thus there should be a focus on marketing in that sector.
It is, however, terrible practice to assume that American Millennials will react to marketing in the same way as African Millennials.
“The African Millennial is different in some key ways to the American Millennial and cannot be marketed in the same way. To ignore these differences is to consign your experimental marketing campaign to failure” says Michelle Storey, Founder and CEO of Trade away
“The socio-economic factors affecting African Millenials cannot be compared to those affecting American Millennials. Their outlook on life is different, and so they must be marketed to in a different manner” says Greg Martin
The American millennial is anti-establishment, and would rather spend income on filling their life with events and memories as opposed to items. You will find that American Millenials rent homes instead of buying, use lift sharing services like Uber instead of owning a car and take more vacations to overseas locale’s around the world instead of buying a ‘cabin on the lake’ holiday home as was done by their forefathers.
African Millennials conversely, are actively playing asset catch-up. The African millennial is moving into upper-middle-class roles and is buying the luxuries that their parents could never afford. So while Americans are moving away from fixed assets like homes and cars, African Millennials are focusing on buying those things. They are looking on buying items that speak to status in life. In this case, dressing the part helps them become the part.
In order for any branding or digital marketing campaign to be successful, one needs to understand its target audience. To Market to African Millennials, in the same way, one would market to American Millenials shows that one does not understand their target audience and has the opposite intended effect, driving your potential customers away.
If you need help with your experimental marketing campaign, contact Tradeway today.