Why Is Multicultural Marketing Important?
A huge number of businesses are currently ignoring multicultural marketing in their strategies, despite 9.1million people living in the United Kingdom being from an ethnic minority. They have a spending power of £300billion and are the fastest growing population in the UK, with 80% of population growth attributed to them. Yet, more than two-thirds say UK media is not relevant enough to them and just 1 in 5 brands use multicultural marketing, meaning the vast majority are hugely missing an opportunity.
The BAME (Black, Asian and Minority Ethnic) communities are the main focus in multicultural marketing. Standard marketing strategies often don’t appeal to BAME ethnicities for various reasons such as location, language and target audience. It is therefore incredibly important to understand their specific demographics and language differences to ensure that they are being targeted correctly. In order to do this successfully, creating a winning multicultural marketing strategy is key.
Knowing How To Reach Different Ethnic Communities
Businesses in every sector and industry can benefit from targeting ethnic communities. The lower competition and often lower customer acquisition costs make targeting the BAME community a lucrative move for any brand. Unlocking the potential by reaching them in ways which make them feel valued and understood, can have larger positive impacts on a business than they’d ever imagine.
Regardless of the company size, both small and large brands are able to successfully tap into ethnic marketing and hugely reap the benefits of doing so. Businesses could significantly increase their sales and gain a foothold in what is often a notably less competitive market compared to others.
It can be difficult to reach ethnic communities in the UK as you need to know the best and most appropriate methods of doing so. Multicultural marketing agencies like ourselves remain informed of the current and most effective ways of reaching each specific community. We make it our mission to stay one step ahead of ethnic consumer trends; whether your target audience is Polish, Indian, Romanian, Filipino or Nigerian, we know what makes them tick and what drives them to make a purchase.
The Importance Of Recognising Multicultural Marketing
1 in 6 individuals living in the UK are from an ethnic minority, making them high in numbers and deserving of brand’s attention just as much as any other consumer. The majority of future population growth is set to be within ethnic communities, making this growing market one to really target in the years to come. Yet, with the lack of brands making an effort to reach ethnic minorities, it is no wonder that 69% of them feel UK media has little or no relevance and appeal to them. They need to feel valued and considered, otherwise even the best of campaigns could be ineffective.
Each ethnic community is different; they have varying consumer needs, tastes and behaviours which in turn constantly change and evolve. This makes it hugely important to keep up-to-date with their key trends and preferences at all times. By knowing exactly what your audience wants and how to best reach them is crucial in targeting marketing campaigns and strategies effectively – particularly when the market is a completely new area to your business. Without this knowledge, the whole campaign could fail, wasting a lot of valuable time and money in the process!
Contact GottaBe! Ethnic, Your Leading Multicultural Marketing Agency
Now you have found out why multicultural marketing is important, why not contact us? The GottaBe! Ethnic team are ready to help you with multicultural marketing. Businesses in every sector/industry can benefit from targeting ethnic minorities, with lower competition, targeting the ethnic communities can be a lucrative move for your brand.