Creating a Successful Multicultural Marketing Campaign

Multicultural marketing requires specialized insights and actions that take into account cultural differences while avoiding stereotypes.

By Aamir Chalisa, MBA, LUTCF, LACP

Acquiring multicultural clients is not just about not leaving money on the table anymore; it will also determine whether you win or lose in the financial-services industry.

Today, we are at a point where the term “minority-majority” is an oxymoron. Multicultural consumers make up nearly 40% of the U.S. population and spend $1.7 trillion; yet, they still get less than 18% of all ad dollars and less of all company resources. U.S. children are already majority-ethnic, Millennials will be majorityethnic in 2022 and all of America will be so by 2040. Hispanics are in the majority in key states like Texas, California and Florida as the number of non-Hispanic Whites continues to decline.

Steps to success

Against this backdrop, businesses are ramping up their multicultural marketing efforts, which offer them the ability to hone their messages to culturally connected groups. This type of targeting can offer major returns, but users must tread carefully because multicultural marketing requires specialized insights and actions that take into account cultural differences while avoiding stereotypes.

Here are 5 steps marketers can take to create a successful multicultural marketing campaign:

• Empower. When reaching out to groups based on their race, language, age or even gender, it’s a good idea to create a sense of empowerment. For example, you can allow them to be involved in decision making and to collaborate.

• Know cultural intricacies. Within multicultural segments, there are varieties and changes that will affect your campaigns. Knowing these can save time, resources and face. You need to know the holidays, customs and cultural nuances within different multicultural groups.

• Be heartfelt. Our culture identifies humans as individuals, families, nations and more. Therefore, a person’s link to his or her culture is usually strong.

• Be inclusive. There is a huge buzz around the idea of “total market” in multicultural marketing. This trend is characterized by using inclusive instead of targeted cultural marketing.

• Be careful. Culturally-centered topics are often very sensitive. It is easy to make a mistake and receive a negative reaction. Consequently, marketers must be able to predict the impact of their campaigns and preemptively address any negative feedback.

Apart from expanding your pool of prospects, multicultural marketing also helps consumers resonate with your brand.

Multicultural marketing helps your business achieve several goals at once. Apart from expanding your pool of prospects, it also helps consumers resonate with your brand, thereby improving the overall perception of your company, its mission and purpose.

To achieve success, take some time to learn about multicultural consumers. If you develop a genuine interest in their cultural differences, reaching them through your marketing messages will be much easier than you think and will result in a win-win situation for you and your financial practice.

Aamir Chalisa, MBA, LUTCF, LACP, is managing director with Futurity First Insurance Group in Oakbrook, Illinois, and a member of NAIFA’s National Diversity Task Force. Contact him at aamirchalisa@ffig.com.