Ever wondered why the two hottest words in marketing today are “Millennial” and “Multicultural”?
Well the short answer is that the Millennial Generation (18-34) rules category after category and Multiculturals are their heart and source of vitality and growth.
Andy Halley-Wright, VP Planning and Research at Y&R/Bravo Miami, looks at how despite millennials coming of age in dire economic times, they are optimistic, open minded and brave. And in the home of the brave, the American Dream burns brightest in multicultural millennial hearts. Naturally various life stages and different mindsets fall between the ages of 18 and 34. In fear of over simplification, the younger cohort (18-24) are “Explorers” (4Cs) driven by the mega need of discovery while the older segment (25-34) are “Aspirers” (4Cs) motivated to make a mark and to show the world that they are making it.
"Born in a digital world, eight in 10 Millennials in America own a smartphone. They are always on, always connected – like 1 in 2 are tweeting, liking, emailing, you-tubing or whatever; while on the toilet! No generation has ever spread the word about themselves and help build or break brands like this generation. And again, Hispanics are at the bleeding edge, especially when it comes to mobile," he writes.
If “Millennial” and “Multicultural” are the two hottest words in marketing today, the two most important commandments they impart are that the marketer should “Embrace Diversity” and “Be Participatory.” Of course, that’s easier said than done.