Multicultural Marketing Hot – Success Not
October 24, 2008
Its users can’t even agree on what multicultural marketing is.
More than three-quarters of US marketers surveyed by the Association of National Advertisers (ANA) in August 2008 had multicultural marketing (MCM) programs, and two-thirds said their companies’ efforts had increased over the past few years.
But just having a program does not mean it is working. Only 45% of respondents said they were happy with the results of their MCM initiatives, and 26% were somewhat or very dissatisfied.
“Marketers are frustrated and concerned about program quality, with less than one-half expressing satisfaction with their firms’ efforts to date,” said Bob Liodice, president and CEO of the ANA, in a statement.
Marketers are still taking a range of approaches to MCM, reflecting the fact that there is not yet one perfect set of tactics.
More than one-half of respondents defined MCM as “narrowcasting”—creating separate messaging for distinct market segments and communicating via media that reach multicultural consumers. That was down from the previous year when 78% chose the narrowcasting definition.
Other definitions included “mainstreaming,” or repurposing general advertising for MCM segments (11%), and the “translation” approach (10%), which involves translating general-market materials for outlets catering to multicultural audiences.
“With multicultural consumers making up two-thirds of the millennial population and Hispanics representing one-sixth of the US population by 2010, the multicultural market is an increasingly sizable and influential segment,” said Frank Dudley, CMO of ‘mktg’, in a statement. “And still, this study’s data suggests marketers have yet to establish standardized best practices.”
Most marketers have realized for some time that a multicultural approach is important. The trend was named as one of the most important by 29% of respondents to a Marketing Executive Networking Group survey fielded in October and November 2007. That was roughly as many as named the breakdown of traditional media, innovative branding and viral marketing.
Marketers know they need to reach a multicultural market. Now they are looking for the best way to do so.
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