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last October, Mark PritchardP&G’s Chief Brand Officer and one of marketing’s most influential figures, delivered a message that some marketers have embraced for years.
At the ANA Masters of Marketing conference, Pritchard explained two things to thousands of attendees. First, marketers should view multicultural marketing as mainstream marketing. Brands should not silo their audiences with messages that are inconsistent with their marketing communications. Instead, the multicultural message should heavily influence the brand’s mass-her message. Second, Pritchard invests heavily in black-owned media to expand their outlets and better reach the consumers that fuel the brand’s growth.
Brands like P&G have this in mind, but many do not. Those who don’t are missing out on the opportunity to reach the next generation of consumers, who are becoming more diverse and inclusive by the day. Just as companies that didn’t embrace digital fell behind his decade ago, brands that don’t reflect his marketing in multicultural messaging will fall behind their competitors. . Examine teams and agency partners to fill the room with people who embody the changing demographics of the United States, make intentional decisions to shift marketing, diversify owned agencies, vendors, and media with his suppliers. We need to change the way we work together.
“The mass market is held together by very human impulses. Adweek’s 2022 Multicultural Agency of the Year“The way we think about how to divide them is always more powerful when we focus on what connects them, not what divides them.”
chasing youth
One thing is clear from the changing demographics of America. Each generation is more diverse and inclusive than the previous generation. From 2016 to 2060 he Census Bureau predicts that the white, non-Hispanic population will decline from about 200 million to 180 million. The number of people who identify as Asian or Hispanic has doubled in that time frame, and the total number of people who identify as at least two races is projected to triple.
Just as digital marketing (and more recently social marketing) has moved from being an item of marketer strategy to the core over the past 15 years, Barnes sees multicultural marketing undergoing the same shift. I’m here.
“It was probably a useful designation long ago,” Burns said. “Now it is clear [incoming] Not to mention the expectations of those expected to actually move the market. ”
To win that next generation, marketing needs to embrace multiculturalism, Barnes said.
“If there is a diversity problem, it is definitely a youth problem,” Burns added.
Sean Tresvant, Taco Bell’s chief brand officer, admitted that while the brand is trying to sell to everyone, it’s talking to “someone” through marketing. “That someone is his Gen Z,” Tresvant continued. “Generation Z is the most racially, sexually and ethnically diverse generation of digital natives.”
And that means creating multicultural content that appeals to large audiences. Torresvant pointed to cultural agency Cashmere’s World Cup campaign, which stars soccer player Ashley Sanchez and features music from rapper Niña Dios, who was Mexico’s first openly queer rapper.
“Let’s create big, great content … that appeals to Latin, but it wasn’t a Latin ad,” says Tresvant. “It was an ad that everyone could relate to.”
“I can’t take my foot off the accelerator pedal”
If the economy tightens budgets in 2023, or likely, the CMO offers actionable advice.
The first was widely agreed upon. Brands must not adapt mass market messages to multicultural audiences. it should be the other way around.
Karla Hassan, CMO of JPMorgan Chase, said: “Find the intersection of needs and wants, where your brand can truly function and deliver a message that resonates with everyone.”
Ultimately, marketers should always drive growth. This is what came from non-white groups during the pandemic for most businesses.
“[Multicultural marketing] Kristin McHugh, SVP Marketing and Creative at Verizon, said: “I can’t take my foot off the accelerator pedal.”
Hassan says brands need to look for simple human truths to leverage in all marketing. “We use these truths and turn them into actionable insights that lead to great content,” she added.
Businesses also need to find out who is creating the messages.
“Once you look at the DEI and your employee base starts to mirror your customer base, you start making the right decisions. said Chris Byrne, President of Marketing Operations and Digital Acceleration at .
Diversity among agency partners
Better work only comes from a room where a cross-section of the group is seated at the table not just with Brand but with its partners.
“You can’t create marketing that resonates with a multicultural audience when you’re working in an echo chamber,” Hassan said.
Getting people from different backgrounds to find their place within a brand’s marketing team is one thing. Creating a pipeline for the next generation of diverse talent and quieting those echo chambers for good is another.
Verizon’s Adfellows program places new talent with brands and agencies such as Anheuser-Busch, American Express and Kellogg, achieving a 95% industry retention rate. The brand plans to expand enrollment to his 250 by 2026.
According to McHugh, Verizon has sought diversity across its agency partners. Marketers can fail if the people creating their messages don’t reflect the community they’re trying to reach. As such, Verizon reported that in June 2022, people of color would make up nearly 40% of his marketing and agency partners.
Payment termsPersuasion of
It is important for brands to develop strong relationships with agency partners and vendors, especially diverse-owned and women-owned businesses. I have raised my voice About how long the payment term is often more harmful to them.
Procurement teams often dictate payment terms, but McHugh builds relationships, educates them, and requests exceptions when suppliers absolutely cannot accept 90- or 120-day payment terms. said it was the responsibility of the brand’s top marketer (which has become all too common in the global industry).
A bigger seat at the table awaits CMOs who invest the time and effort to convince procurement teams to change terms, Barnes said.
“If they are willing to operate outside of their authority or just lean over a little to be someone’s ear bug, they will reap a surprising return on their efforts.” Burns added.
Expansion of media suppliers
Another area where brands can consider their budgets more carefully is where they buy their media.
Many brands have committed to supporting programs such as: GroupM’s Media Inclusion Initiative, which will require more spending with Black-owned media companies. However, what some media buyers are holding off on is not having enough stock.
Barnes poured chilled water on it, pointing out how black-owned outlets typically aren’t marketed.
“If there weren’t really any stock left, you would see a different kind of media environment.
Brands can look to influencers to diversify their media spending, but closing the pay gap is the responsibility of influencers, not influencers or creative agencies, said Tresvant, citing micro-influencers. He added that Encer should also receive rewards on the same scale.
Barnes also suggested that brands could reallocate programmatic purchase funds on social platforms directly to the creators who make those platforms flourish.
“You’re probably not going to get a black replacement for Disney,” Burns said. “But you’ll definitely get a black replacement for Taylor Swift. And you already have .”
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