Multicultural Marketing Trends for 2016
By OCGPR Staff | January 13, 2016
What is Multicultural Marketing?
Multicultural marketing means building relationships with diverse audience groups to improve sales and increase engagement. Changes in our country’s demographics and spending power means designing targeted campaigns for specific audience groups is more critical than ever. A recent Nielsen report states, “Companies that lead with multicultural insights to devise authentic sustained marketing strategies will reap the most profitable returns on their investment.”
Data from Nielsen further indicates the annual buying power of African American, Asian and Hispanic groups will collectively surpass that of the general population’s in two to three years.
- African Americans are predicted to spend $1.4 trillion by 2019
- Hispanics are projected to spend $1.7 trillion by 2019
- Asian Americans are projected to reach $1 trillion by 2018
Here is a look at the three top multicultural trends you should be paying attention to for 2016 success.
Focus on Relationships
Building long-term relationships and loyalty versus short-term acquisition and individual sales provides better results for business. Create a meaningful and ultimately profitable relationship with groups by engaging familiar and trusted influencers
in your next campaign.
For example, take a look at our work with AT&T The Bridge – an online engagement website which highlighted African American bloggers and influencers through original content.
Identifying broad interests with high multicultural appeal engages a wider range of consumers across diverse segments. Fashion mogul and founder of Complex Media, Marc Ecko, explains it as a shift from “look alikes,” which refers to targeting specific demographics, to “like alikes,” which refers to targeting interests. His online site, Complex Magazine, provides content that engages a broad audience, but specifically interests multicultural men.
Content is STILL King
Good content, that is. One of the most effective ways for your content to reach multicultural consumers is to have it live digitally. African Americans in particular are considered technology “Super Users.” They’re ahead of the digital curve and heavily utilize video, mobile and other platforms to interact online. Overall, multicultural consumers are early adopters of technology and are heavy consumers of mobile content. With great content reigning supreme in 2016, it’s going to be important for brands to identify the best platform(s) to amplify content, ensuring that targets are reached.
Finding new ways to tell stories online will be essential to sharing content. Storytelling through online platforms and episodic style content made appearances in 2015 through podcasts like Serial and NPR’s Snap Judgment or Kate Spade’s YouTube series, #MissAdventures, and will remain an engaging way to approach content in 2016 with multicultural audiences.
Learn more about reaching multicultural audiences at OCG PR’s webinar on Friday, Jan. 29 from 11:30 a.m. to 1 p.m. Hear insights from our chief strategy officer, Raquel Daniels to help shape your 2016 multicultural communications plans and increase sales.