Have you considered multicultural marketing yet? You should. Now. Seriously. Now.
Soon, the minority will be the majority, but most marketers haven’t caught up yet. If you want to know why, read our Friends of Outsource Marketing article Are you serving the minority-majority? Why multicultural marketing matters more than ever.
Marketers are starting to take notice and multicultural marketing is on the verge. In fact, on January 3rd, PR Newswire announced they had purchased not one, not two, but three companies in the Hispanic marketing space.
The announcement cited a Selig Center for Economic Growth study showing that the “Hispanic media is doubling the general media’s growth, and Hispanic consumer spending power is projected to top a whopping $1.2 trillion by 2012.”
PR Newswire’s acquisitions include:
- Hispanic PR Wire, connecting to the nation’s leading Hispanic newspapers, magazines and Internet portals
- LatinClips, a media monitoring and measurement service
- Hispanic Digital Network, an Internet advertising network reaching a U.S. online audience of 17 million+
Think PR Newswire is taking multicultural marketing seriously? Yeah. Me too. Is it time for you to do the same?
When we look at the opportunities, as well as advancements, that have been made in international business it is no wonder companies should pursue multicultural marketing. “The world is flat” and that statement shouldn’t just stop at companies outsourcing production. Companies need to take multicultural marketing seriously. The potential for growth is staying ahead of the competition and looking abroad to market products is a great way of accomplishing that.