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Transcript

  • 1. Strategies For Expanding into Multi‐Cultural Markets
  • 2. AGENDA • Growth of the African American & Latino markets • Facts/Myths of the African American consumer • Challenges/Opportunities in reaching the African  American consumer • How to help agents reach this demographic market • Top marketing strategies to build your business in the  African American market
  • 3. U.S. Minority Buying Power (Billions of dollars) 1 1.03 1.1 1.2 0.957 0.98 1 1.03 0.543 0.67 0.718 0.76 0 1 2 2010 2011 2012 2013 Hispanic Black Asian
  • 4. U.S. Minority Population [CATEGORY  NAME] 13.2% [CATEGORY  NAME] 17.1% [CATEGORY  NAME] 5.3% [CATEGORY  NAME] 64.4% African Americans Latinos Asians Rest of U.S.
  • 5. A Country Within a Country
  • 6. Higher Increases in: Earnings               Population                Education
  • 7. How to Influence the Black Consumer?
  • 8. African Americans highly respond thru: Television                                    Radio                               Advertising/Marketing
  • 9. Facts / Myths  Negative feelings about the economy?  Total advertising spent toward African  Americans is 2%?  They are very interested in improving  their financial knowledge/illiteracy?  AA’s own insurance products at equal or  greater rates than the general  population?
  • 10. What Are They?
  • 11. 9/10    3/4 93%    69%
  • 12. How Can the Industry Help Agents
  • 13. How Your Company Can Help Agents • Provide Marketing, Prospecting, and Advertising  materials featuring African Americans • Establish Mentorship Programs and Team Building  Opportunities • Feature Successful African American Advisors as  Speakers at Major Conferences (such as this one!) • Become Marketing Experts
  • 14. Top 4 Ways to Build Your Business Teach a Financial Literacy Class Lunch‐n‐Learns Networking
  • 15. Thank You Q & A?