Doing nothing has a cost
The importance of multicultural marketing has grown significantly during the past decade.
The Hispanic community alone grew more than 26% the last ten years. Which is one of the many factors that have lead to one of the most diverse generations ever in the past twenty years. Many things have changed, therefore, marketing cannot be the same.
Now, there’s two types of companies: the company that notices this significant change in the United State’s demographic and decides to change their marketing strategies to fit their audience. Then the company that sees this, and still decides to use the “Total Market strategy”.
You can reach Hispanics with this plan as well, but you may not be connecting with them if you lack that strong culture-driven approach led by experts in this segment.
The Total Market Strategy has been used for many years now. The issue with it though, is that it’s basically based on the assumption that everyone has the same experiences, background, and perspective. Which does not really connect with a generation that is so diverse and complex.
Why you need to get started
What are brands doing?
Brands like BMW, Jack in the Box, Google, Adidas, GE, and Diageo, among others, have reached to multicultural advertising agencies in order to communicate with this new crowd.
Brands are looking to connect, to build meaningful communication streams with an audience that’s increasingly diverse, increasingly young, and increasingly online through social media.
Now, let’s talk numbers.
When it comes to multicultural marketing, a company’s victory is another company’s loss.
Cost should not be the only factor that is considered when looking into investing in multicultural marketing. When a good agency executes it properly, the benefits may outweigh the company’s investments.
Start looking at the returns of implementing a more inclusive marketing program, and compare the cost of doing this, versus doing nothing; or worse, seeing your competition implement it, and take the sales that could’ve been yours.
So what are you waiting, we are not moving, we are here to help you! Sólo di: I choose Vaquero!