Multicultural Marketing is important. This article covers the WHY.
If you are still not sure if Multicultural Marketing is the right approach for your company and want to understand more about this trendy marketing strategy you are in the right place.
What is Multicultural Marketing?
There are many definitions of Multicultural Marketing.
We picked a quick one, according to Wikipedia:
Multicultural marketing is the practice of marketing to one or more audiences of a specific ethnicity—typically an ethnicity outside of a country’s majority culture, which is sometimes called the “general market”.
Here, at Phu Concepts, we believe Multicultural Marketing, also known as inclusive marketing, is:
“A marketing approach fully dedicated to addressing the needs and wants of a specific ethnicity”.
MULTICULTURAL MARKETING is about treating the multicultural consumers as a completely new segment, excluding any the “one-size fits all” approach by tailoring your marketing specifically to engage local communities, cultural practices, and unique identities.
Organizations lack to understand that the minority and multicultural consumers want to receive messages that reflect their culture.
Marketers should stay away from stereotypes and look into the inclusive marketing segment and attempt to deliver UNIQUE EXPERIENCE AND PRODUCTS that will only work for the targeted culturally diverse segment.
On the opposite side of Inclusive Marketing, we also have the Total Marketing Approach.
While Multicultural Marketing is robust and allows us to be flexible and engage more effectively with our customers. The Total Marketing approach treats its consumers the same way,
To understand better the difference between Total Marketing and Multicultural marketing, click here.
What is a Multicultural Marketing Audience?
According to the US Census Bureau, MULTICULTURAL CONSUMERS are defined as being composed of several different race categories – African-American, Black, American Indian, Pacific Islander, Other, and Two or More Races. Hispanics of any race are also considered multicultural consumers, defined by the US Census Bureau as an ethnicity, not a race.
In other words, a Multicultural Audience is everyone who does not identify themselves as Non-Hispanic White American or is either from a foreign country or has immigrants parents and/or grandparents.
To engage a multi-ethnic consumer, your marketing strategy must genuinely understand your consumer’s cultural background, wants, and needs. The best path will always be the one where your brand builds empathy with your customers instead of directly pushing a product or service.
Click here to see some great Multicultural Marketing Campaigns.
The USA population is changing, so should your marketing strategy
According to the Census Bureau:
- 2020 is the year when “more than half of the nation’s children are expected to be part of a minority race or ethnic group”.
- The non-Hispanic white population is projected to shrink over the coming decades, from 199 million in 2020 to 179 million people in 2060— even as the U.S. population continues to grow.
- While the total number population is predicted to grow about 20% by 2060, the Black and African American populations are predicted to grow by 41,1%, and the Hispanic, 93,5%.
- The population of people who are of Two or More Races is projected to be the fastest-growing racial or ethnic group over the next several decades, followed by Asians and Hispanics.
If your company does not make efforts to grow with your multicultural consumers today – when they are already more than half of the population under 18 years old – it is most likely your company is not going to grow at all.
Why is the Multicultural Approach so important?
There is a great opportunity that has not been fully explored when it comes to Multicultural Marketing. More than before, we marketers have the chance to build connections with multicultural audiences and make them feel seen and heard.
As we mentioned earlier, the USA population is changing rapidly. Companies need to acknowledge the evolution of their marketing efforts over time. It takes research, resources, time, and intentional commitment in order to understand your multicultural audience and create unique relationships between your brand and your multicultural consumer.
To understand why you should do Diversity Marketing right now, click here.
Do not wait until it is too late. If your company does not have the knowledge and expertise to develop a top-notch marketing campaign targeting your multicultural audience, you can always count on a Multicultural Marketing agency that is equipped with a variety of marketing professionals specialized in your target market.
Do you want to count on a team of experts in Multicultural Marketing?
4 Comments