Multicultural Marketing News – January 2015 What’s Inside: Outlook for Multicultural Marketing in 2015

Multicultural Marketing News – January 2015

What’s Inside:  Outlook for Multicultural Marketing in 2015

Top multicultural marketing experts weigh in with their informed opinions on what to expect in Multicultural Marketing in 2015 in the US. Read on to learn what these experts have to say about their outlook for multicultural marketing in the coming year.

Outlook for Multicultural Markets 

The latest Census data proves that growth and spending power in multicultural markets is tremendous. In 2015 and beyond, companies large and small must employ this valuable insight when implementing new strategies for revenue growth and increased brand loyalty. They must look at these growth populations as the new “general market”. Think “Sofia Vergara Effect”. Sofia Vergara is a Spanish speaker, and represents her roots proudly. But Ms. Vergara is now seen as relevant to all consumers. She is represented in both English and Spanish ads, and has product lines that reach well beyond the traditional Hispanic marketplace. Companies must make a shift in thinking and understand that Multicultural and Mainstream marketing have merged. The lines between them have been forever blurred. The use of accurate multicultural data, analysis, market identification and appropriate messaging will be the key factors to success. Multicultural Marketing, Research and Ethnic Identification is our passion and we look forward to helping all forward thinking companies, clients and partners achieve the results they expect from the Leader in Multicultural Marketing. Our country is a beautiful mosaic and we celebrate it every day! By Karen Sinisi, Director of Sales, Ethnic Technologies, karens@ethnictechnologies.com, 866-333-8324, ext. 117. 

Outlook for Multicultural Marketing Research in 2015

If 2014 is any indication, 2015 is going to be the most expansive year ever for multicultural marketing research. In a typical year (Prior to 2014) my company conducts around 15% of our day-to-day survey projects in any one of 67 languages.Last year a number of things changed. Beginning in late 2013 we noticed that our bids and projects increasingly came from companies outside the US. These companies were looking to better understand, through the lens of marketing research, how different groups would feel about purchasing products coming from their native country that were not readily available in the US.By mid-2014, with the number of bids and projects more than doubling, it was also clear that the subject mix was changing as well. We saw candidates running for office, tobacco products, government & transportation agencies, universities, digital media and CPG companies all testing the opinions of the multicultural market.What is the outlook for multicultural marketing and marketing research? Sunny with little chance of rain! By Michael Halberstam, Chairman, Interviewing Service of America (ISA), halberstam@isacorp.com, 818-989-1044   

Repositioning to Multicultural/Total Market to Embrace the New America

It is my assessment that marketing has shifted from “silos” of marketing to just Hispanics, African-Americans and Asian-American to embrace what is being termed the New America. And when the next census is conducted in 2020, minorities are expected to account for 40% of the population, and Hispanics will be close to 20%. Seeing these stats and other data, it made perfect sense for the organizers of Hispanic Retail 360 to rebrand its Hispanic Retail 360 conference, magazine and website as Multicultural Retail 360, a new media brand focused on retailing to the growing multicultural segments of the United States. Over the past decade, Hispanic Retail 360 had grown into the premier cross-channel event focused on retailing to the growing Latino market. Given the movement to a total market approach, Multicultural Retail 360 will continue to help retailers maximize their business with the growing Hispanic market in the U.S., while also providing insight and examples of best practices for merchandising and marketing to other important demographic and cultural segments of the U.S. population, including African-Americans, Asian-Americans, biculturals, and other emerging ethnic and cultural consumer groups. Multicultural Retail 360 Summit will be unique from the many other conferences aimed at marketing and advertising to multicultural consumers. No existing conference addresses the issues that retailers face identifying and segmenting multicultural consumers shopping their stores, and then executing strategies so that they have the appropriate product mix and marketing messages for these customers at every store.

By Michael Hatherill, Group Brand Director, Multicultural Retail 360, mhatherill@stagnitomail.com, 201-855-7610.

Outlook for Multicultural Healthcare Marketing in 2015

With changes in law and the diversification of America, the importance of taking into account multicultural consumers in healthcare marketing is more important than ever. Many of the newly insured are multicultural– potential new consumers of drugs and health services. These are consumers who won’t always be looking for the lowest cost or formulary product but are able to target specific branded products. These market segments are also known for their brand loyalty, as well as being over-represented in chronic diseases, with higher than average rates of blood pressure and cholesterol issues among Hispanic and African-American consumers; Hepatitis among Asians. But that doesn’t mean these product categories are the only products that would benefit multicultural consumers. Anything from OTCs to health insurance to health counseling to disease awareness to hospital services are things that these consumers will be investing a significant amount of spending in the coming years, with a much higher rate of likely spending growth than the population at large. A company that takes advantage of learning more about these customer segments, successful examples of how to market to them, and ways to earn trust on healthcare can have a significant positive impact on the bottom line. Learn more about how to accomplish these opportunities at one of our 2015 healthcare marketing conferences, including the Multicultural Health Marketing National Conference in Ft. Lauderdale, FL on October 12-14. By Scott Ehrlich, VP, DTC Perspectives, scott@dtcperspectives.com, 770-559-0702.

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