Up until recently, everyone born between the years 1980 and 2004 were lumped together under the banner ‘Millennials”. While grouping a certain demographic by age does assist in some predictions, it is becoming increasingly obvious that Millennials are comprised of four separate groups. Each group is affected by different socio-economic factors and as such have different outlooks. An experiential marketing campaign or any type of marketing campaign aimed at anyone between the ages of 13 and 35 needs to incorporate elements of experimental marketing to fully reach these four distinct sub sections of the millennial generation.
The Struggling Aspirationals form the largest part of the four subsections of Millennials. This group is identified by their forward thinking and globalist view. They are ‘green’, fit and healthy, have some form of employment and standard source of income but often find themselves in financial trouble.
“This group is ambitious and seeks to raise their station in life. They are most open to digital marketing as they form part of the interconnected superhighway of information that is the internet, but are thrifty and aware of most kinds of traditional advertising” says Michelle Storey.
Experimental advertising ignites their interest and will lead them further than old-school banner adverts.
Comfortable TV Watchers
This group is the polar opposite of the Struggling Aspirationals. They are content with their station in life and act as consumers of content. They can be targeted with most TV adverts as this is likely their preferred medium. A small percentage of the millennial generation, they lack inspiration and likely subsist of welfare to meet their needs.
The Active Affluent
The most accomplished of the millennial groups, this section is also known as the “I’ve Arrived”. With steady jobs and disposable incomes, this group enjoys traveling, buying assets and starting families. Likely the first of the millennial group (in their late 20’s or early 30’s)
“The Active Affluent sees their lifestyle a means by which to measure their status and accomplishments,” remarks Greg Martin.
The Successful Homeowners and Struggling dependants
The final group of the Millennial generation exists in juxtaposition with itself. In the US, this group is comprised of the Successful Homeowners. This group is the most affluent and successful of the Millenials, whether it be by inheritance or high income. In South Africa, this final portion is comprised of rural Millenials with low confidence and poor prospects.
Each of these groups has some form of spending power and will be swayed if the correct form of experimental advertising is used. Contact Tradeway today to find the best fit for you.