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The Emergence Of Multicultural Marketing Agency
We are currently living in the peak of the 21st century, a time where there has been a lot of evolution and a lot is changing. A multicultural marketing agency opens up many new roads and pathways for brands so that they can engage with their entire range of consumers. The ad campaigns released by the multicultural marketing agency targets the multiple segments based on ethnic and socio-cultural backgrounds which helps the brand connect with a larger segment of consumers on an emotional level. A report from 2019 suggests that multicultural consumers make up for an entire 40% of the population of the United States. And even then, multicultural media investments make up for only a 5.2% of total advertising and marketing spending. Another study also suggests that only the Hispanics in the United States are all set to reach a 111 million mark by the year 2060.
All these changes made it imperative for businesses to start adapting and evolving over the period of time. Brands initially targeted mainly the americans when they were ideating for an ad ...
... campaign, but with time they have started understanding that the Hispanic market along with other cultures including the American African and Asians segment make up for almost 37.5% of the US population. Admittedly the teenagers in the states try to fit into the dominant cultures, but when they grow up they generally tend to revisit their own cultures and heritage. And at this age they are also prospective consumers of the brands that are trying to sell.
There were a certain number of reasons as to why the multicultural marketing agencies went up the hill and started making their marks in the industry. The buying power of minorities in the States are increasing at a faster rate. The biggest reasons for this are changes in demographics, entrepreneurial activities, and increased educational achievements. Additionally, the ad campaigns targeting the multicultural backgrounds are always appreciated for the well-sought after and thoughtfulness that will definitely touch and embrace the diverse audiences’ mindsets. All in all, the most blunt and basic way of putting it is that multicultural marketing targets most of the consumers and is produced with a complete understanding of the audience without a one size fits all approach.
There are also a number of Asian American advertising agencies that are making their mark in the industry with the upcoming population surge. There is an entirety of 5.8% of Asians and pacific islanders in the population of the States and it is still growing. The Asian American advertising agencies represent the cultures of multicultural backgrounds and heritages of vast countries like India. With the ever-rising Indian population in the States makes it very easy for brands to understand and inculcate these values into their advertising campaigns. With the Asian American advertising agencies, the curators and ideators of the campaigns will naturally be Indians who will know better how to reach the Indian American audience, making it the campaign to connect with the consumers.
And hence the marketers must be willing to diversify their content so as to connect with their diversified consumers on a personal level. Just translating the content or repurposing the existing content into a different language will not connect with their multicultural consumer base. We are not saying that translation is not necessary, but solely doing that will not help gain a consumer base or deepen the connections with the existing one.
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