Surprisingly only 55% of CEO’s believe in the importance of multicultural marketing initiatives. Both CEO’s and Executive boards have failed to fund any efforts towards marketing for their non-white consumers.
Although Hispanic consumers may hold $1.5 trillion in buying power, half of U.S. marketers have failed to establish multicultural marketing initiatives within their organizations, according to a new report.
Although it is important to market to the greater audience, experts have agreed that it is imperative to campaigns to avoid the “niche campaign.” It is more important to create a unique and personalized experience for the consumer that leaves room for cultural nuances to shine through. Read more here.