How to Reach the Emerging Multicultural Audiences October 17, 9:00am
Panelists• Saul Gitlin, EVP of Strategic Services for Kang & Lee Advertising• Carlos Rojas, Hispanic Marketing Strategy Director for Principal Financial Group• Natalie Rouse, President of Southern Cross International, Experts in Multicultural Marketing• Lisa Radding, Moderator, Director of Research at Ethnic Technologies LLC
How to Reach the Emerging Multicultural Audiences Today, more than half the babies in the United States come from diverse backgrounds. You see a multicultural world on your flight, out to dinner, as you walk through the exhibit hall. But seeing diversity doesn’t necessarilyhelp you reach diverse markets. Through testimonials by industry leaders who have devised successful campaigns, you will understand how “multicultural” translates to “culturally specific,” the actionable key to marketing success. - Improve your ability to reach our increasingly diverse population - Understand the potential of multicultural marketing - Listen to experts who have identified how to tap into these markets
Multiculturalism vs. Specific, Individual Cultures• This list is multicultural: – JOSE GUTIERREZ – KATHLEEN SCHREINER – NANCY HUANG – OLAJUMOKE ADEJUWON – ZDZISLAW WROBLEWSKI – LATOYA WASHINGTON• This person belongs to a Specific, Individual Culture: JOSE GUTIERREZ, Hispanic…
Marketing to Specific Cultures• Reach different consumers in culturally sensitive ways with different creatives: – JOSE GUTIERREZ… Hispanic, in Spanish – NANCY HUANG… Chinese, which Language?• Reach only a specific population of consumers: – NANCY HUANG… • JENNIFER LEUNG • FRANK WONG • WEN-TAO LIN ? • YANGQING TANG?
Multicultural Marketing Tools• Census Data• Self Reported Data• Surname Tables• Multi-Layer Approach*** A Multi Layered Approach uses First Names, Middle Names and Surnames combined with expert system rules and geo reference analytics.
Hispanics• Hispanic Population reached 50.5 million in 2010, 16% of the total US population.• Total consumer spending by Hispanics was $1 trillion for 2010.• Between 2002 & 2020 their growth rate is projected to be 2.8% a year and by 2020 make up 18.9% of our total population.• Projected income growth per households will be 4.8% per year and personal consumption spending will average 9.1% growth through the year 2020.• Hispanics consider shopping a form of entertainment and a “family event”. They are “shop-a-holics”, fashion forward and innovative, buying music, high tech and entertainment products (mobile, big screen TV).
Asians• The Asian Population reached 15.5 million in 2010. 5.1% of the total US population.• Between 2002 & 2020 their growth rate is projected to be 5.2%• a year and by 2020 make up 10.2% of our total population.• Over 7 Million Asians speak their native language at home.• Total consumer spending by this group is $545 billion for 2010.• 87% of this group who are over 25 are high school graduates, 48% have a bachelors degree and 16% have achieved an advanced degree (e.g. master’s, Ph.D., M.D., or J.D.) The Highest Education Level by percent .• Home ownership for this group is upwards of 64%.
African Americans• The African American population reached 40.7 million in 2010, 13.6% of the total US population.• Between 2002 & 2020 their growth rate is projected to be 1.3% a year and by 2020 make up 17.2% of our total population.• 39% of African American’s live in suburbs and nearly three-tenths of households are middle and upper class.• African American’s gravitate towards products that are seen as reflecting their sense of community, embracing their values and supporting their goals.
The “how” of Multicultural Marketing• Awareness of the multiculturalism• Software for database enhancement and to provide lists• Research into the specific ethnic population• Talented creative team• Cultural Sensitivity
Who Benefits from a Campaign of this type?• Insurance• Financial Services• Retail• Telecom• Entertainment• All verticals that most advertisers pursue…
What contributes to a successful Multicultural Marketing campaign?Considering the current birth rates of different ethnicities with inthe United States you are guaranteed to be marketing to a morediverse audience each year. Realize that because your cliental ismulticultural, not everyone responds to the sameadvertisements. You can accurately identify ethnicities, languagepreferences, and similar variables on your database. When youunderstand the nuances of different population segments andmodify your campaign for specific populations of consumers, youwill generate a greater return on your marketing investments.