Ethnic Luxury Marketing trends
Diversity Affluence, a marketing consultancy focusing on ehtnic diversity in marketing, has published a paper over at The Wise Marketer about ethnic luxury trends. An ‘under-the-radar yet highly-influential segment’ is often overlooked by mass marketers, or even luxury goods marketers as they do not fall into the more traditional demographics. Focusing particularly on Hispanics, Asian-Americans and Russian-Americans, the article gives some good thought-starters for approaching these groups. Of particular interest to this blog is their push for targeted, transmedia marketing.
Mass marketing is out, the company says, and target marketing is in. To take the example of
building a new mass marketing programme for that sought-after segment, the Royaltons:
“You’ve determined that you want to target a cluster of Royaltons including African
Americans, Asian Americans, Hispanic Americans, and Russian Americans. Each will have its
own concentric circle that includes niche and grassroots efforts: sponsorships, influencer
programmes, marketing partnerships, online engagements, retail events/promotions,
charity support and more. These individual concentric circles will work together to build
critical mass that in turn translates into the new mass marketing. And if you were wondering
what resonates with this group, in general, try high touch engagements that allow
consumers to interact with the brand. Traditional advertising is a waste of your marketing
dollars.”
Multiple touch-points across media, no longer one single message in one single way but using an in-depth understanding of the audience and approaching them where it matters to them, in a way that suits them not the advertisers.
And of course, this approach is not just for that one group. We are all become ethnic minorities in our own way, each falling into different groups that want to interact with messages in their own way. Leveraging the most influential can be far more cost-effective than just blast marketing. So how can you do it?
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POSTED IN: Branding, Engaging the Customer, TV
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