Making the Most of the Multicultural Market
The Association of National Advertisers (ANA) – www.ana.net – reports that 76% of US marketers targeting the multicultural market in the country use ads on television targeted to specific market segments in order to reach the multicultural market. Additionally, 56% say they use grassroots efforts, but only 35% say they target the multicultural market online.
ANA surveyed its members and presented the 100 responses it received at its Multicultural Marketing Conference this month. ANA determined that 72% of respondents actually engage in multicultural marketing and spend an average of $4 million on such advertising, which represents just 8% of their total ad budget. However, the ANA determined that 54% of respondents expect their multicultural ad budgets will increase while 26% say they will stay the same while just 6% say they will decrease.
Wondering what “multicultural marketing” is, exactly? The ANA found that most marketers (85%) define it as the creation of separate, targeted copy for the specific market segment and running that copy in media designed to reach that segment in particular. Only 13% lump multicultural marketing into their general marketing effort. (segue)
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