World views are shifting toward a better, more inclusive, and much more diverse stance, and we have seen it happening in only a few generations. And to claim that marketing as we know it is also changing is an understatement, so let’s analyze why you should embrace minority marketing.
The world of digital marketing is constantly evolving, and what we can witness is its ability to adapt to new circumstances, and in turn – to appeal to diverse and much wider audiences. In essence, there is no just one kind of marketing anymore because the advertising of today should aim to include younger and diverse new generations.
Why You Should Focus on Minority Marketing
The truth is that a demographic tsunami is taking place and is changing the nature of marketing as we know it. According to a study conducted by Adobe in 2019, 61% of Americans consider diversity in advertising crucial, and around 38% claim that they are much more likely to trust a brand that includes diversity in their advertising campaigns.
Out of globally surveyed 2,000 consumers, 34% claim they would boycott brands that don’t represent them in their campaigns.
In this article, we are going to discuss:
- What has changed in the marketing space as we know it?
- The new trend and big data in marketing
- The brave new world of branding
- Minority Marketing: a new kind of thinking
- How to embrace Minority Marketing?
What Kind of Changes Has Marketing Been Through?
What is this big change? Simply put, it’s called the minority/majority shift. As 2020 came to a close, more than half of those under 17 came from a minority background, which means that a small margin will continue to grow as those people become adults and gain more spending power.
If we want to talk simple facts and look at Millennials, up to 70% of them have said that they would pick a brand based on the inclusivity and diversity seen in their ad campaigns. But even if appealing to younger audiences is crucial in order to stay relevant, you should also keep in mind that diversity marketing is a morally right decision.
So What Does That Mean for Marketing and Marketers?
Basically, it puts a mandate on marketing to potential minority customers because they’ll soon be majority buyers and spenders. The trend to do this has been labeled minority marketing, which is something of a misnomer. It’s also been called multicultural marketing or diversity marketing, but regardless of how it’s labeled, it represents a huge change.
To put it into perspective, the minority market is becoming the fastest-growing part of the market in general, and it’s one of the reasons why you should consider reaching out to it. However, in order to connect to this particular segment of the market, you will need to carefully develop your strategy or simply employ services from a multicultural marketing agency that can help steer you in the right direction.
The New Trend and Big Data in Marketing
Anyone who’s been paying attention to demographics and population makeup has known for a while that the world is becoming more diverse. Some marketers, however, have been slow to realize this, and many companies are now playing catch up as a result. This diversity trend has been tricky to verify in the marketplace in the past, but now it’s not. Want proof? Let’s look at some simple numbers.
Start with a big one: spending power.
Of the $6.5 trillion dollars spent by Americans last year, nearly a quarter was spent by a combination of African Americans, Asian Americans, and Latinos, according to the Selig Center for Economic Growth, which is based in Georgia.
As shocking as that percentage is, it’s going to grow in a big way. It’s been trending up for some time now, and it’s just one example of how finding the appropriate data is key for marketers. Beyond that, though, getting the right data can turn into a maze, but fortunately, there are some great sources of reliable information.
Start with the US Census as a prime example. The government has done a lot of great work that marketers can use to pinpoint their buyers and target them appropriately. Data like the ones provided by the US Census can be an excellent starting point for a top-down approach to data gathering, which can be extremely effective for many markets and products.
Beyond Data: The Brave New World of Branding
For better or worse, though, effective data just represents the proverbial foot in the door when it comes to minority marketing. The message has to be authentic, and brands must be shaped differently as well. The big question is how to do this. The answer may seem circular – you tackle that question by asking more great questions about your brand, then drill down to formulate the best possible approach.
Let’s look at a few sample questions that must be asked:
Are ads targeted the right way?
Is your content marketing geared to match the needs of your audience?
Do you see signs of recognition and vitality when they respond to your approach?
Is the language inclusive and authentic in a way that reaches them as unique people rather than just as potential customers?
These aren’t simple questions, of course, but they do help open another door that we’ll address in the next section: the need to think differently.
Click here to know more about “Why Cultural Diversity is important in the workplace?”
Minority Marketing: A New Kind of Thinking
As you go about the business of reshaping or rebuilding a brand, there’s another resource we haven’t mentioned yet – your employees. Think about it: If your marketing is becoming more diverse, the chances are strong that the people sitting around your conference tables will be, too. That means they have the expertise and knowledge to answer many of the previous questions, which makes it incredibly crucial to use what they have to offer.
To do that, though, you have to think differently, and it really is all about communication. Mechanisms must be put in place to communicate effectively at all levels of your company so that new ideas get shared and implemented effectively. That’s really the key to minority marketing and to staying ahead of the curve as that growing minority slowly surges toward becoming the powerful majority.
How to Embrace Minority Marketing?
You should especially keep in mind that it’s not only about advertising – your company should be more inclusive and show its commitment to this goal in praxis. This also means to always aim to understand cultural hybrids and show that you are always ready to adapt. But here are four specific things you can do to help your company step into the world of minority marketing and embrace diversity and inclusion:
- Consult experts and build relationships. To do minority marketing, you need to walk the walk. That means hiring a company that specializes in meeting the needs of whatever ethnic groups you’re looking to reach and using minority businesses for whatever services you need, such as financial, legal, and more. You can find the best digital marketing Rochester offers, which also specializes in the type of advertising you are aiming to implement.
- Use focus groups. Your employees can provide some expertise, but you need to know more, too. It’s worth bringing in target minorities along with a moderator to see whether your promotional methods match up with their needs and beliefs or simply employ good Rochester marketing professionals to do it.
- Know the standards. Every culture has taboos and stereotypes, and you need to know how those affect your promotional methods. Once again, focus groups are a great way to do this, but research and testing can be just as effective.
- Break the language barrier. Many minority groups speak different languages, and they have slang expressions that may not be common as well. Hire a translator or a language expert who knows all the nuances and follow the advice of that expert.
The following video is a great example of multicultural marketing done right.
Take These Strategies Into Account
After you’ve acknowledged what multicultural advertising stands for and you have a deeper understanding of it, you should consider different strategies. Embracing them will only be beneficial to your brand and your community in general while you also respect the mindset of diversity. After you’ve started changing things internally and learned all there is to respect different standards, let’s see how to build your strategies.
Always Listen to Your Audience
A big part of any part of marketing, but in the case of diversity advertising even more, is collecting feedback from customers and acting on it. If you want to find out firsthand whether you are being representative, your audience will likely let you know. That way, you will know whether you are on the right path or you have missed your mark.
Stay Away From Tokenism
If you don’t know what tokenism is, these are the practices where inclusivity is only done on the surface and remains symbolic. It may happen to your brand if you haven’t spent enough time researching and deeply understanding the target audience you are making an effort to represent. This could prove to be more harmful than helpful. You should always strive to be authentic.
Think Ahead of Accountability
Your company’s teams should always stay on top of goals, so you should always communicate in a clear way. If you are not doing this the right way, you can quickly become aware of the difference between being completely committed to your goals and doing it only on surface levels. But in this segment, what’s also important is that you have an accountability process ready if you don’t meet your benchmarks.
In the End, Make Diversity Your Top Goal
The world is changing for the good, and we’re seeing more diversity all around us. That’s why your advertising efforts should also be on par with these changes. Morally aligning yourself with the ethics of today will help you communicate with younger audiences much more effectively and successfully. If you want to learn more about multicultural marketing and implement it in your business, contact us today and let us help you become more inclusive.
