This past weekend I had a great opportunity to spend time at NYU in a course through their School of Continuing and Professional Studies. I gathered with a small group of other professionals talking about ethnic marketing and ways to reach multicultural communities. Such interesting discussions and data–and truly invigorating to be with other professionals eager to make those vital connections to important communities in the U.S.
Why is multicultural marketing something to pay attention to? Ethnic markets are gaining in population and buying power. They are the fastest growing segment in the U.S.! The majority are in largest cities, and growing in small cities too. While we may all think we already know this, it’s great to get back to basics and see the data. The Hispanic, Asian, and African American markets combined already comprise 50% or more of top 10 urban areas, with annual purchasing power of $2 trillion. This population is 10 million larger than baby boomers demographic group.
And it’s so important to be mindful of the diversity within diversity. For example, 15% of the U.S. population is Hispanic. Of that market, 63% are Mexican, while 35 other cultures contribute to the balance–such as Puerto Rican, Spanish, Venezuelan, Columbian, Panamanian, Guatemalan, and more. The same diversity is, of course, true with Asian and Arab cultures. Guess what, it’s even true with “Americans.”
When communicating with these groups, we can’t assume a lack of English proficiency. It’s important to know the appropriate times to use in-language marketing tactics. But when your communication is in-language it tells the community you care about them, you understand them, and they are important.
I’d love to talk more and share my insights into how language translation is a vital component in the process of creating a multicultural marketing program with cultural relevance. Call or email us today and let’s continue the discussion!