Diversity in your marketing team can bring new perspectives, an understanding of different communities, and new ideas to the table. Several target markets can be addressed at once through the use of specific marketing campaigns that all fall under a single master marketing plan. The reasons for diversifying your marketing campaigns are many and include the access to different market segments that would otherwise be overlooked, the creation and implementation of specific marketing messages aimed at your target segments, and the impact of a message that comes from more than one source and is more difficult to forget when you are constantly being reminded of its presence.
Multicultural Marketing: Selling to a Diverse America by Marlene L. Rossman
Summary: In Multicultural Marketing, author Marlene Rossman describes the $500 billion market represented by America’s so-called “minorities” – a group of separate, distinct markets that, taken together, are the most important consumer growth area in the U.S. Nowadays, savvy marketing executives have learned that the youthful, surprisingly affluent, growing populations of African-Americans, Hispanics, and Asian-Americans have quietly changed the face of the American consumer. Multicultural Marketing is the first book to show you how to understand these challenging, new, diverse market segments, including defining ethnic market segments and how you can best reach each segment; identifying cultural differences among various groups (and sub-groups) and incorporating them into your marketing programs; tailoring or adapting your product offerings and advertising messages to meet special needs and interests, and avoiding inadvertent or careless mistakes that may offend your customers.
Summary: It couldn’t be more clear that not having a multicultural marketing strategy today is simply not an option. For success today and in the future, multiculturalism needs to be front and center of your business plans. And two leading multicultural marketing experts, Natalie Rouse and Adriana Waterston, have put together the handbook you need to get started! This book offers sound advice on how to be most efficient with your marketing resources when targeting multicultural and international consumer segments with in-language marketing and advertising. There are ideas on ways to reach out and establish yourself in the communities you are targeting. Importantly, the book will help you through the often challenging first step of selling the idea of multicultural marketing to your internal clients and decision-makers.
Summary: Marketers, at a minimum, must try to understand what each new wrinkle in the fabric of society means for products, our brands, and our companies. If we get it right and are able to crack the code on issues like assimilation and ethnic identity, we stand to make a lot of money. If we miss it, we risk becoming as meaningless as the buggy manufacturers of yesteryear.
The way you go about diversifying your small business marketing will vary according to your industry. For example, if your business is B-to-B, you may consider combining an influential marketing campaign based on industry opinion, a heavy trade show component so your brand is out there amongst the people who matter most, and a long-term incentive program. On the other hand, if your business caters to the public, you may blend some radio ads with basic flyer handouts and social marketing efforts. The way you approach a market depends on the identity of that market and your diversified marketing strategy should as well.