- Seventeen year old students preparing for their upcoming SPM examinations, unsure of
the impending decision of a degree course;
- Fresh graduates experiencing and embracing the differences of the workplace, reminiscing
the final years of student-life;
- Married couples in their thirties, juggling between full-time career commitments and a
newborn child;
All three groups share a common trait, a commonly used denomination to
refer to a particular category of people. They are increasingly becoming the
target for brand strategies, gradually and eventually being assumed as the
primary consumer and contributor to the market. If you haven’t guessed it
already, all three fall under the category of Millennials.
Definitions of the age range of a Millennial vary, with estimates
extending as far back as the mid-1970s, to as recent as the early 2000s. A
general rough estimate would suggest those born between 1980 – 1998 as the
appropriate range to be considered as Millennials. However, it still represents
a large demographic of differing age groups and cultures, each with different
viewpoints and definitions of the world. To label such a diverse group under a
monochrome umbrella of representation that is ‘Millennials’ is not only
inaccurate, but jeopardises brands which intend to specifically target millennials
as a priority for their brand strategies.
Lumping university debutants with parents in their thirties is problematic,
as they have different priorities, and have contrasting views on brands and
products. A Subway sandwich might be a healthy, simple lunch option for the
younger crowd, whilst being a lazy alternative to cooking dinner for the
latter. The multitude of perspectives on the socially constructed
intra-millennial spectrum makes it difficult for brands to converge on
“Millennials” as a general marketing target.
Emojis, selfies, and
hashtags are starting to make the transition from their initial refreshing
debuts to clichéd norms. Brands are increasingly inclined towards creating a
millennial-friendly image, in fear of not progressing in line with the
ever-adapting status quo. The fear of losing out to the millennial market
creates a self-perpetuating notion within brand marketing strategies, whereby
the idea of ‘millennials = priority’ is continually resonating between brands. Brands
continuously vie for attention from millennials, and view targeting millennials
as a means of keeping up with the times.
Brands which have a blanket marketing strategy to target millennials risk
ostracising consumers from other demographics. By associating certain trends or
habits with millennials, and applying strategies which directly target them
(under the assumption that all millennials conform to those trends), brands
potentially lose out on consumers which might have been their primary source of
revenue. Compelling advertisements might generate good coverage and attention,
but does not necessarily translate into profit.
For instance, if Ferrari decides to advertise towards millennials, they
have the potential to create positive social media awareness and attention.
However, teenagers and fresh-collared workers might not have the financial
capacity to commit to purchasing a Ferrari.
Instead of targeting at sweeping terms of categories such as millennials
or baby boomers, brands are better off identifying audiences at a micro level.
Following the release of Pokemon Go in Malaysia, brands have begun advertising
aimed at catching the interests of Pokemon Go players.
The colloquially associated millennial-traits such as emojis and
hashtags are foregone, in place of simple targeted advertising at Pokemon Go
players, which span across various demographics. Instead of equating Pokemon Go
with an up-and-coming millennialist trend, brands can utilise it to engage with
a broader audience, which would translate into a more potent marketing strategy
which transcends traditional demographic labels.
The highlights below provide a more in-depth perspective as to what
brands should emphasise on to create an effective marketing strategy. Brands
should refrain from engaging in targeted marketing at millennials, since they
are represented by a wide demographic range, encompassing that of age, culture,
race, nationality, socio-political, financial… #yougetmypoint
________________________________________
“It seems less about measuring sales or even Net Promoter Score, but about social engagement and likes. It’s given rise to comments like this, from Katie Elfering, a CEB consumer strategist and resident expert on Millennials at Forbes:
“Beyond just being innovative and useful, the brands that give Millennials a reason to engage, whether that’s branded content like what Intel has produced, or creating an experience that they couldn’t have without the brand, like many of Red Bull’s events, have figured out how to connect to this generation in a meaningful way. These brands know how to provide what matters most to Millennials in a way that is additive to their lives and entertaining, which in turn compels them to share their experiences with their friends.”
There’s nothing wrong with that, but to mistake it for targeting is foolhardy. Re-read the quote, but with people in their 40s in mind. It still applies.”
“Instead, brands should be talking about gardeners with Snapchat or Pinterest accounts. Or people that own tablets that also like NFL. Or people that drink soda twice a day and live in New England.
There’s so much more nuance and potency in targeting at this level of granularity than sweeping terms like Millennials, Generation Y or Baby Boomers can ever offer.
These are the kinds of groups that can be targeted with meaning, and not only have a genuine impact upon the nature of a marketing strategy, but will also transcend the buckets we’ve created to label the world.
So the next time you’re having a conversation about targeting in marketing, please think more about who it is you’re trying to target, and why you’re trying to do it.” - Joel Windels, VP, Inbound Marketing at Brandwatch
Image Source:
(1) rp-blog.resultsplussoftware.com
(2) socialmediaweek.org
(3) Tokyo Kitchen Facebook Page
(4) myBurgerLab Facebook Page
Benjamin Lee Cheng Han | Benjamin is a student of International Relations at the University of Nottingham, currently exploring unchartered realms in the Public Relations field. Writing is clearly his interest – a decisive contributor to his foray into the public relations industry. To date, he boasts the proud record of having tamed one of the office cats, and drinking expired tea from the pantry.
Benjamin Lee Cheng Han | Benjamin is a student of International Relations at the University of Nottingham, currently exploring unchartered realms in the Public Relations field. Writing is clearly his interest – a decisive contributor to his foray into the public relations industry. To date, he boasts the proud record of having tamed one of the office cats, and drinking expired tea from the pantry.
0 comments: