Modern Millennial Marketing in the Caribbean

IMG_9845.jpg

Youth marketing is a term used in the advertising and marketing industry to describe activities to communicate with young people ranging from 16 to 24. The youth market is critical because of the demographics buying power and the influence we have on the spending done within the family. Teens and young adults often set trends that are adapted by other demographic groups.

 

Market Trends

Within the Caribbean youth market trends allows for traction in a more mainstream medium within the market. Consider your location as a trend to reach the youth with a message; the message needs to be accessible to them. A strong innovative message will be completely missed if it’s not in a place that the youth market frequents. Millennials, as consumers, garner almost all their information from the internet, placing your ad campaign on a popular social media platform is an ideal way to get the message across. Gaining the trust of the youth market can potentially create a very loyal customer base. Trends allows for the message being transmitted to penetrate the market easily.

 

Real World Examples

A few brands that got millennial marketing right include chipotle, TOMs and Netflix. All three companies share the idea that encouraging customer interaction, philanthropy and constant evolution will drive the force that is youth marketing. It’s vital for brands to figure out how to get its message out in a unique way to foster an interactive experience.

 

Marketing Strategies

Strategies that could be considered when targeting millennials within the Caribbean should be used to acknowledge the fact that this is an “experienced generation”.  Millennials are not as easily sold on material things as past generations were. They are more likely to invest in something that can give them a new type of experience. Because millennials know advertising when they see it and instantly runes it out, businesses that focus on emotion and action are more likely to gain their attention.

 

Insights for the Caribbean

Youth marketing in the Caribbean is pretty under developed and under researched. In a report done in the U.S contained a detailed demographic profile of the youth market, including population projections, income and employment patterns, school enrollment data, and trends in living arrangements. The report continued with an in-depth analysis of the consumer behavior of 15- to 24-year-olds and provides an overview of consumer expenditure patterns, shopping behavior, and profiles of consumer attitudes in key areas including food, fashion, and finances was done in the US in order to study the spending habits of millennials. Similar reports can be implemented in the Caribbean to shed light on key trends in the market, including projected growth rates, new marketing strategies and advertising platforms emerging in the youth market, and strategic trends and opportunities. Caribbean youths are now driving a phenomenal increase in text messaging volume and other wireless data services. Use text ads, it’s no secret that millennials enjoy texting. Send our announcements and offers straight to their phones.  

 

Conclusion

In the Caribbean we follow traditional western world standards which means that most young consumers have grown up with the Internet and have unlimited access to information at their finger tips. This has resulted in the youth market being a very informed group. Hopefully this analysis of international youth marketing can give some insight on how we can take to the next level here in the Caribbean.  

 

Written by Brittany Miller (Accounting Executive at UCA Jamaica).

UCA Jamaica are exhibiting at YMS LDN, check them out at Booth Number 5.