Why is Multicultural Marketing Important?
To help you recognize the importance of multicultural marketing, we asked marketing professionals and business owners this question for their best insights. From engaging customers in the right context to preparing for a multicultural majority by 2060, there are several reasons that may help your business focus on its multicultural marketing efforts and reach new customers.
Eight Reasons why Multicultural Marketing is Important:
- To Understand Your Entire Audience
- Engage Customers in the Right Context
- Reflects Society
- Customized Marketing Messages
- Relatively Low Levels of Competition
- Reinvents Your Brand as a Multicultural Brand
- Reach Global Customers & Employees
- Prepare for a Multicultural Majority Future
To Understand Your Entire Audience
Here’s what Connor MacDonald from The Ridge Wallet had to say about the topic. “In the last decade and beyond, the major driver of population growth in the U.S. has come from multicultural populations. A consumer who is multicultural is much more likely to buy from a brand that they feel reinforces their cultural roots. So, if you’re not actively trying to tap into these potential consumers’ cultures, you’re likely to never reach your full potential with this growing audience with massive potential. As a brand, you should be looking at targeting these diverse groups, as their purchasing power has grown immensely. To do so, your brand must change their old marketing strategies, and pivot to ensure that messaging can align with the values of these cultures while maintaining authenticity. Overall, if your company is not already investing heavily into multicultural marketing, you’re already missing out on what could be a huge chunk of your target audience.”
Engage Customers in the Right Context
Harry Morton from Lower Street explains, “Multicultural marketing lets you fine-tune your marketing efforts so that the message you want to convey can resonate in the minds of your targeted audience, as opposed to being generic or one-size-fits-all. To get it right, take the time to further research and understand your target audience’s background to get your idea across in the best way.”
Reflects Society
Saskia Ketz from Mojomox explained about a reflection on society, “We live in an ethnically diverse society, 38.4% of the total United States population is multicultural. As our country becomes more ethnically diverse, it’s essential that we reflect that in our marketing, brands that are able to appeal to a wider demographic will experience a variety of benefits resulting in increased awareness and revenues. Representation simply cannot be ignored.”
Customized Marketing Messages
Matthew Ramirez from Paraphrasing Tool shares from his experience, “Multicultural marketing is important because it allows companies to connect with specific ethnic groups with customized marketing messages. This can help brands increase sales and market share by better appealing to and serving these groups. Each video ad, social media ad, etc. has a chance to be more relevant by specifically thinking about the diverse audience it may reach and strategizing how to optimize that experience. “
Relatively Low Levels of Competition
Jerry Ford from 4WD Life states, “Multicultural marketing has the potential of penetrating areas where your brand has access to a ready and open marketplace with minimal or no competition. Access to an eager and willing customer base that has probably been waiting for innovative products and services is a handy advantage. The opportunity to capture a significant share of a new market before the competition gets a whiff of this opportunity is hard to pass on.”
Reinvents Your Brand as a Multicultural Brand
Azmaira Maker, PhD., from Aspiring Families shares, “Any brand that wishes to create a great impression must indulge in practices that take into account a diverse market. Multicultural marketing helps your brand recognize the potential of a market that has so far remained off the radar to most companies. This also means that your brand is willing to touch markets that competitors have avoided or not given the attention they could have. A multicultural hue gives your brand the advantage of projecting itself as an innovative and forward-thinking brand that believes in experimentation and expansion.”
Azmaira Maker, Ph.D., Aspiring Families
Reach Global Customers & Employees
Here’s what Nate Tsang, from WallStreetZen had to say, “You’d be surprised who’s looking at your business. In an increasingly connected, digital-first world, multicultural marketing means you’re gaining a foothold across the globe. When your brand is known far and wide, you also have an easier time with recruiting top talent, no matter where they are.”
Prepare for a Multicultural Majority Future
Finally, Shana Sanders from Bold Creative Brands shares with us, “Multicultural Marketing is needed to impact the future customers of your brand. If you own a company that is not catering to the multicultural demographic, you will need to prepare to downsize or risk being taking a backseat in your prospective field. Multicultural consumers are projected to be the majority by 2060 according to data from the U.S. Census. These are the factors that are the most important to pay attention to and make sure that your company retains talent that is in alignment with the future of marketing. This is definitely the time to begin building trust amongst the multicultural audience; connect with the audience and in return, you will receive loyalty from larger numbers of multicultural consumers in the near future.”
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Shout out to Terkel for assistance in compiling this article.
