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Brands: Why your focus needs to become multi-cultural
Multi-cultural campaigns and multi-cultural ad targeting is nothing new to marketers, but as the world becomes more connected through mobile and online devices, it is becoming more important for brands to handle multi-cultural campaigns better.
Kristina: On paper it can seem like a simple thing to create a multicultural marketing campaign. Is it?
Cesar M. Melgoza, CEO and Founder, Geoscape: Definitely not. In fact, oversimplification is one of the first mistakes marketers make when embarking on their multicultural strategy. Traditionally, companies would hire a particular "subject matter expert," or try and fold new languages into an advertisement. Often they dive into execution before doing the required analytics to ensure the campaign is "right-sized" and data-driven. This is not only about multicultural marketing but about getting it right for the entire operation - and gaining strategic advantages in your space.
A successful multicultural marketing campaign has many more components than skeptics realize, grounded in data and insight. It involves robust-segmentation to determine key consumers, but also ensures that the campaign reaches far beyond the marketing department and aligns with other aspects of the business.
Kristina: What trends are you seeing now in multicultural marketing?
Cesar: The biggest trend that I'm seeing is an ongoing debate around a term called, "Total Market," which seems to imply that a unified approach to marketing is preferred over a segmented approach. It's leading to a convoluted and oversimplified view of a multicultural marketing campaign. But it's also allowing the industry to have a healthy debate about how best to conduct multicultural campaigns.
The other trend we're seeing in multicultural marketing is Big Data. We have an unprecedented view into the behaviors of growing markets in the U.S. We can uncover things that we would never believe we could know a few years ago. Businesses are just starting to get a handle on what they can see - the return on this level of analysis will be monumental.
Kristina: What problems are you seeing now with multicultural campaigns?
Cesar: Recently, I've seen companies begin to realize the impact The New Mainstream has on their bottom line. I've even seen organizations develop positions within their marketing departments for "Multicultural Marketing Managers." However, budgets still have a long way to go in order to reflect the value that needs to be placed in these high growth populations. Executives continue to invest in shrinking demographics and it's time that marketing budgets mimic the buying power of multicultural groups.
More from Cesar and GeoScape later this week, including his top 3 tips for better multi-cultural campaigns.
Image via Shutterstock
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