Wed, 23 September 2020
Uncertain on choosing a niche for your agency? Have you ever considered specializing in multicultural marketing? Are your clients losing customers by omitting multicultural messaging? Multicultural marketing is rapidly becoming an important growth strategy for businesses. It might be time you consider specializing in this marketing area in order to grow your agency.
In this episode, we'll cover:
I had the opportunity to speak with Eric Diaz and Natasha Pongonis, partners at Nativa. Their agency specializes in multicultural digital marketing agency and works with brands like Charmin, Castrol Motor Oil, and Arizona State University. Several years ago, Eric and Natasha noticed a lack of ads targeted to Hispanic audiences. Realizing these advertisers were missing out on a substantial demographic, they set out to not only help clients expand their reach but to help make the world of marketing a more inclusive one, as well.
How Important is Multicultural Marketing?
According to Eric and Natasha, the growth of the Hispanic population is just one example of the importance of multicultural marketing. In addition to Hispanic and Asian consumers in the U.S., multicultural marketing targets other growing demographics, like African-Americans, Native Americans, and others who fall outside of the mainstream marketing reach, including the LGBTQ community.
Natasha also points out, as the country becomes more diverse, the numbers of individuals in the Millennial and Gen Z generations who identify with more than one ethnicity are also increasing. We have growing numbers of young consumers in this country whose buyer preferences are impacted by more than one culture. Failing to reach this growing group of consumers means leaving their money and their business on the table for one of the bigger companies to grab.
How Can You Learn More About Your Clients' Audiences?
How do agencies know what a certain demographic will want? The answers are in the data, Eric explains. Determining the data to identify potential consumers by cultural identity takes some digging, however. Many years ago Nativa developed a website that gathered data in a spreadsheet on what Hispanic buying habits, trends, and attitudes. Unfortunately, the data they gained only identified Hispanics based on whether they spoke Spanish. Thing is, many Hispanics don't speak Spanish fluently but still consider themselves of Hispanic descent.
The team had to discover new ways of learning about Hispanic consumers by studying their profiles for information to indicate a Hispanic ethnicity. They looked at names, the commonality of products the purchased, and geographic information.
Eventually, Nativa turned this site in a more valuable and all-encompassing SaaS tool that helps their prospects and clients learn more about all their multicultural consumers. This solution has proved to be invaluable to prospects and clients alike.
Are Your Agency Clients Drowning In Data?
Most brands have the data, but what sets Nativa apart is how they analyze and interpret the data. How can a company organically reach multicultural audiences by being part of their conversations? The best way is to just be quiet and listen. Learn what is driving those conversations, where are they taking place, and what are is the ethnicity of the users. Watch strategic partnerships of competitors and learn how different ethnicity's use different products.
Our society is overwhelmed with data. We are drowning in data, but we're starving in knowledge. If you can interpret the data that is a superpower. And today, with machine learning Nativa is even testing out AI usage to predict behaviors of multicultural audiences.
Eric made reference to Walmart and their 25-year relationship with their multicultural agency. The multicultural niche isn't going anywhere in fact, it's evergreen as the market continues to evolve. Natasha says it's not necessarily about the native language anymore. It's more about cultural awareness. It's about communicating in a very cultural and appropriate way to the demographic you're trying to reach, whether Hispanic, Asian, African-American, or others.
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Direct download: Do_Your_Agency_Clients_Need_Multicultural_Marketing_.mp3
Category:general -- posted at: 5:00am EST