Half of US marketers say they have initiatives in place to reach minority populations, such as African-Americans, Hispanics, and Asian-Americans, according to a recent report from the CMO Council and Geoscape.
The report was based on data from a survey of 150 senior marketing leaders in the United States.
Some 51% of respondents say their organization has multicultural initiatives in place, and 49% say their organization does not.
The top reason cited by respondents for not having a multicultural marketing initiative in place is that it simply isn’t a priority for their organization (36%); other reasons cited include insufficient budget (34%) and having a strategy in place that addresses these segments through total-market efforts (26%).
Below, additional key findings from the report.
More than half of the marketers surveyed (54%) say their spend on multicultural efforts ranges from 1% to 10% of their overall marketing budgets.
Respondents say their spend on multicultural marketing initiatives is based on what is required to reach their company’s growth goals (53%), on perceived ROI (49%), and on the number of multicultural consumers who are considered to be a fit for their products or services (48%).
More than half of respondents (54%) say they take a total market approach to their marketing strategy, whereby all multicultural segments are integrated with pooled resources.
Some 17% of marketers say their company has an overarching multicultural marketing team with resources/staff separate from general market efforts.
About the research: The report was based on data from a survey of 150 senior marketing leaders in the United States.
Oh, boy. The dreaded sign up form.
Before you run for the hills, we wanted to let you know that MarketingProfs has thousands of marketing resources, including this one (yes, the one behind this sign up form), entirely free!
Simply subscribe to our newsletter and get instant access to how-to articles, guides, webinars and more for nada, nothing, zip, zilch, on the house...delivered right to your inbox! MarketingProfs is the largest marketing community in the world, and we are here to help you be a better marketer.
You may also like:
- How Direct Mail Can Cut Through the Pandemic Marketing Clutter (And How to Obtain Those Valuable Home Addresses)
- Marry Brand and Demand to Unleash the Full Power of Personalization in ABM
- The Information Sources B2B Tech Buyers Most Rely On
- Seven Things Ruining Your B2B Marketing Budget—And How to Fix Them
- COVID-19's Impact on B2B Martech Budgets