El balance es la clave para acercarse al mercado total
Mónica Ramírez, Creative Director at Geometry Global, explained the codes to understand total market and the efficient strategies to cover broad demographic sectors. “Multicultural marketing can help drive down costs, but how do brands avoid alienating different cultures and ethnicities?”. For Ramírez, the solution is in balance.Integration continues to be a relevant topic in the industry, but its scope has changed in the last few years to include new groups, such as Hispanics, which currently account for 17.4% of the U.S. population, in addition to Asian-Americans. The buying power of multicultural consumers is growing at an exponential rate compared to total U.S. consumers. “The way to do this is to tap into universal commonalities while acknowledging cultural nuances with a single brand message” explained the creative director. “The danger lies in choosing something so broad that it feels irrelevant to nearly everyone. The short-term financial efficiency of this approach ends up being expensive in the long run because multicultural consumers dont see enough of their cultural cues reflected in the brands communications” argued Ramírez. For the executive, the key lies in “making critical adjustments in the way campaign ideas are generated, developed and executed. Brand teams are often mistakenly convinced that winning insights can only come from the general market, because they feel that multicultural ideas are too specific and limiting. Actually they should be open to multicultural possibilities and expand them” she concluded.
