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Strategies For Expanding into
Multi‐Cultural Markets
AGENDA
• Growth of the African American & Latino markets
• Facts/Myths of the African American consumer
• Challenges/Oppor...
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 20...
U.S. Minority Population
[CATEGORY 
NAME]
13.2%
[CATEGORY 
NAME]
17.1%
[CATEGORY 
NAME]
5.3%
[CATEGORY 
NAME]
64.4%
Africa...
A Country Within a Country
Higher Increases in:
Earnings               Population                Education
How to Influence the Black Consumer?
African Americans highly respond thru:
Television                                    Radio                               A...
Facts / Myths
 Negative feelings about the economy?
 Total advertising spent toward African 
Americans is 2%?
 They are...
What Are They?
9/10    3/4
93%    69%
How Can the Industry Help Agents
How Your Company Can Help Agents
• Provide Marketing, Prospecting, and Advertising 
materials featuring African Americans
...
Top 4 Ways to Build Your Business
Teach a Financial Literacy Class Lunch‐n‐Learns
Networking
Thank You
Q & A?
8 15-jim veal-845am
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Transcript of "8 15-jim veal-845am"

  1. 1. Strategies For Expanding into Multi‐Cultural Markets
  2. 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. 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. 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. 5. A Country Within a Country
  6. 6. Higher Increases in: Earnings               Population                Education
  7. 7. How to Influence the Black Consumer?
  8. 8. African Americans highly respond thru: Television                                    Radio                               Advertising/Marketing
  9. 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. 10. What Are They?
  11. 11. 9/10    3/4 93%    69%
  12. 12. How Can the Industry Help Agents
  13. 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. 14. Top 4 Ways to Build Your Business Teach a Financial Literacy Class Lunch‐n‐Learns Networking
  15. 15. Thank You Q & A?
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