"However, for many companies already targeting this economically powerful market segment and for those who are considering it, success is not always guaranteed," says Terry Soto, author of the newly published book, "The $3.5 Trillion Advantage: A Marketer's Guide to Revenue Growth in Today's America." "Even companies with a reputation for well-planned and implemented programs often fail to approach this market as a value building proposition. They often default to intermittent and poorly planned, integrated and funded efforts. In part, current day political rhetoric is hitting up against how or if to leverage multicultural consumerism. That said, the tug of war between wanting the topline growth this market represents and committing the required resources to achieve it continues."
Soto's book seeks to accomplish three important goals:
- Dramatically improve organizations' business condition by raising consciousness of what's working and what isn't as companies set out to enter new markets in the U.S.
- Reinforce that entering any new market to grow revenue is serious business and requires a methodical and integrated management and investment approach.
- Convey that proven strategies, business models, principles, methods and approaches companies currently employ don't need to change, but they do need to be carefully optimized for increased relevancy in new markets.
"The $3.5 Trillion Advantage" exposes the longstanding and lingering dysfunction existing in multicultural marketing. Soto holds a mirror to what marketers are doing well and not so well using archetypes—deniers, dabblers, and committed—and then shifts to a wealth of insights and winning methods with examples from some of Soto's most successful corporate clients.
"My book could not be timelier given the current political and ideological climate which has further impacted how organizations view the country's changing demographics. The upcoming 2020 Census will undoubtedly reinforce the need and urgency for a revisioning of valuable consumer targets and the actions I advocate in my book. The fact is that organic revenue growth is best found in growth markets and while companies look abroad for growth, we have a huge growth market right here in our own backyard worth $3.5 trillion," Soto said. "This book is an important management resource for new and experienced executives charged with driving topline growth in today's America."
About the Author
Terry J. Soto is an adviser, author and speaker and is one of the country's foremost experts on growth strategy and business development. For the last 18 years, Fortune 500 companies have sought her advice on how to relevantly expand their strategies to grow revenue and gain competitive advantage in multicultural markets. In addition to her extensive public speaking to executive groups across the country, Soto also lectures to graduate students on revenue growth strategies at Pepperdine University her MBA Alma Mater. She is the author of "Marketing to Hispanics: A Strategic Approach to Assessing and Planning Your Initiative."