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Monday, February 9, 2009

How $913 BILLION in Buying Power is Being Overlooked

In 2008, the country's top marketers tapped Barack Obama as "Marketer of the Year." Many of those same marketers also cut spending directed at the African-American market.

With advertisers chasing after niche markets such as mommy bloggers on tools such as Twitter, a "niche" worth $913 billion would seem the sort of market companies would be stumbling over each other to get to.

Yet the African-American market has to continually make the case that it's a segment worth understanding, and one worth a dedicated portion of the ad budget.

As counter productive as it may seem, some industry insiders still believe that marketing to African-Americans has little return in addition to taking funds away from the pivotal general market.

According to the article below, “because African-Americans share a common language with white America, they are assumed to share the same culture and same interests.” 

"Why bother with the research and expense when you can just recycle general market advertising and maybe throw in a couple of black actors?" -- How flawed? You know you’ve seen those types of ads with the “urban” lingo that’s not quiet right.

One Size Does Not Fit All: McDonald's and State Farm Insurance are two large corporations that have been hugely successful with investing in the African-American market. -- McDonald’s with the “I’m lovin’ it!” campaign and State Farm with the "50 Million Pound Challenge," a sponsored weight-loss effort that began in the African-American community.

"African-Americans have nuances in lifestyle and nuances in language and culture that should be used to leverage communication. McDonald's believes in speaking to all our customers, and speaking to them directly." -- Go Mickey-D’s!

Let’s Look at the Hard Facts: A large portion of today’s pop-culture trends originate in African American communities. By speaking directly to African-Americans, marketers can enhance their positioning in the general market as well.

Read the full article:Don't Bypass African Americans!

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