Marketing to Multicultural Millennials: Three Things You Should Know
Nielsen researched multicultural millennials' attitudes and beliefs and we summarized the report for you. Here's why, how, and where you need to market to multicultural millennials to tap into the trillions of buying power these "super consumers" hold.
1. Why YOU need to market to multicultural millennials. Multicultural consumers hold more years of buying power than Caucasians. Multicultural millennials’ years of effective buying surpasses Non-Hispanic Whites between 5.6 and 20.8 years. Not to mention, this group of millennials has disposable income they are eager to spend in the right place. A substantial number of millennials are living it up, spending most of their time online, and not yet concerned with mortgages or starting families. There has been a 415% increase in U.S. multicultural buying power since 1990 and this number will only increase as their population grows. Since spending money on marketing and advertising to multicultural millennials will guarantee a ROI, brands should do their research on what matters most to this new group that holds trillions in buying power.
2. Where YOU need to market to multicultural millennials. Multicultural populations are over 50 percent in Hawaii, D.C., California, New Mexico, and Texas. Nevada, Maryland, Georgia, Arizona, Florida, and New York are quickly approaching 50%. Without a doubt, marketing and advertising efforts should be focused on these locations. 21 of the 25 most populated counties have a multicultural population greater than 50%. However, multicultural population growth rates are higher in less populated, less urban areas. Job offers in these areas are attracting millennials to move out of the urban, heavily populated cities. This might be key to developing brand loyalty, reaching them in locations where the presence of multicultural millennials is not high. Once they move they will be looking for new experiences and new brands to support, making them feel at home. Do your research to find these growing multicultural populations and appeal to their proud sense of culture.
3. How YOU need to market to multicultural millennials. Brands should appeal to multicultural millennial’s cultural connections. Brands that support a good cause and have ethnic ties resonate with multicultural millennials the most. If you develop a positive relationship and image in their eyes, they will support you for years to come. Multicultural millennials have strong ties to their heritage and this sense of culture is extremely important to them as well as experiencing other cultures. Many ethnic items have been adopted by mainstream culture in the U.S. – Ramen noodles, Sriracha Sauce, Hip Hop/Rap music and fashion, dulce de leche, yoga. This shows just how influential multicultural millennials are in the U.S. especially now that social media is popular among this age group. Brands will not be successful in using traditional advertising methods. Instagram is full of brand ambassadors who millennials feel connected to. Promoting your product through them is like word of mouth from a “close friend” whose opinion they value.
Remember to think multicultural, millennial, and mobile, Nielsen’s mantra for marketing and advertising to these super consumers. In addition, we recommend you stay authentic. Millennials appreciate real. They know when you just want their money or you are really committed to building relationships with them to garner loyalty and support. For example, Pepsi received backlash from their ad featuring Kylie Jenner solving policing issues with a refreshing, cold Pepsi. While Pepsi may have had great intentions, their execution did not resonate well with consumers.