The Hispanic Millennials is one of the fastest growing minority consumer group in America. As a result, many companies are scrambling to find ways of targeting their marketing strategies towards the group. Multicultural marketing is proving to be the most effective way of reaching out to the social and mobile Hispanic Millennials. But why is it so?
Demographically targeted marketing is Perishing
For decades, different brands have spent a lot of cash on marketing campaigns targeting specific demographics due to the cultural diversity in the U.S on one hand, and as a way of boosting revenue among new audience sections on the other.
These campaigns mainly target the non-white and non-native English-speaking audiences. However, this approach is based on an outdated view of the general market. Such campaigns have a limited reach since they don't reflect how today's American multicultural Hispanics understand their identities and how they show them online.
This implies that the demographically targeted marketing campaigns are irrelevant and offensive to many Hispanic Millennials. This is where multi-cultural marketing models come into play since many brands can’t afford to lose such an important market segment.
Multicultural marketing is key in developing cohesive content and programming
When it comes to marketing to Hispanic Millennials, content, and programming is critically important. According to studies conducted among the Hispanic Millennials, 25% of them are more likely to follow a brand while 21% are more likely to share the content of brands that they trust.
Over the past few years, programming has largely been dominated by broadcast media. To circumvent this, many creators have turned to various digital channels. According to leading marketing strategists in the U.S, content is a space which largely remains untapped, and brands have an excellent opportunity for generating meaningful content that speaks to the Hispanic audience through various multicultural marketing tools.
It treats Millennials as a niche market
In the modern America, Millennials tend to have more in common with each other regardless of their culture or race. They tend to understand each other whether native-born or not. All Millennials crave for personalized, bespoke online experiences that invite audience participation. It is critical for marketers to understand how Hispanic Millennials reason and what they like.
Through multicultural marketing, marketers can understand the attitudes, behaviors, and preferences of Hispanic Millennials which can be crucial in crafting a more niche approach to this market segment.