Multicultural marketing is the practice of marketing to one or more target audiences of races and ethnicities – this often includes the races and ethnicities that are not a country’s largest racial or ethnic group which is referred to as the “general market”. Multicultural marketing often is intersectional and celebrates the dynamic intersectional identities of consumers. Multicultural marketing connects with consumers because it highlights the humanity of people through leveraging authentic targeted marketing strategies and campaigns.
Most brands are not leveraging the power of multicultural marketing.
Most brands are not implementing multicultural marketing in their overall strategy. This is a missed opportunity, leaving lots of money for your consumers to spend with other brands who are getting it right.
How much money are you losing out on because you don’t leverage multicultural marketing?
The buying power of minority groups in the U.S. is exploding. It was $4.2 trillion in 2020 and is projected to reach $7 trillion by 2025.
In the past decade, the white population declined for the first time in history (2.6%), while people who identify as Black, Multiracial, Latine, and Asian drove population growth.
As Gen Z grows up, their dollars matter more and more in the global economy. This generation, born between 1997 and 2012, represents an estimated $450 billion in global spending power – with $360 billion spending power in the USA.
Most brands are using a one-size-fits all message when promoting products and services to their target audience. This isn’t effective because representation matters. The modern consumer, also known as the inclusive consumer, expects to see themselves respectfully and accurately portrayed in imagery, visuals, and interactions with a brand.
A World Federation of Advertisers study found:
72% of people feel most advertising doesn’t reflect the world around them
63% don’t see themselves represented in most advertising
60% don’t see their community of friends, family and acquaintances represented accurately
At revelant we specialize in serving clients by creating and implementing a multicultural marketing strategy and multicultural brand campaigns that resonate and foster meaningful and authentic connections with consumers. Using relevant and creative branding we craft authentic messaging that shares how your offerings will improve your consumers’ lives.