Marketing

Against the backdrop of a global pandemic, economic turmoil, and calls to address racial inequality, brands need to take a meaningful stand.

This report corroborates the demise of the Total Market approach, a marketing process that short-changed Multicultural & Inclusive Marketing growth, and resetting marketing as we have known it.

At a moment when brands are reflecting on their relationships with multicultural consumers, it’s a great time to talk about something that’s been happening in multicultural marketing for the last decade or so: it’s time to quit defunding your multicultural marketing. What we’ve seen in the Hispanic market, specifically, is that brands have moved to reduce spending under the guise of the Total Market Approach. Granted, we’re all being asked to do more with less. And budget cuts are a part of our reality. But I’m here to show you how to grow your market share and spend your ad dollars more effectively by committing to the Hispanic market.  By Pete Lerma, CEO & Co-Founder LERMA

Covid-19 has changed the developed markets of Europe and the US more quickly and more dramatically than what would have been imaginable during the early weeks of 2020. It has changed how and where people spend their time, what they think and feel, and it has spurred massive shifts in what people buy and how they buy it.

2020 is the year when the majority of all Americans under seventeen years old will be from a minority background, a process that will culminate with a so-called “minority-majority” population by the mid-2040s. These demographic changes will bring about a significant transformation to Corporate America, and during the next few months, I will discuss some of these consequences, in each article targeting one specific area of our business environment.  By Isaac Mizrahi - Co-President of ALMA

New CMO Council Research, in Partnership with Teradata, Finds a Shocking 97% of Marketers Deem their Organizations Ineffective at Turning Customer Data into Insights and Actions

As if three simultaneous pandemics (a health-related, the social tension of racism and inequality and the global economic recession) weren’t enough, over the last ten years or so, our industry has gone through a “pandemic“ of its own. This “virus” has affected mainly multicultural marketing and branding, and ultimately, companies who have suffered from sales, their share of the market, and other KPI’s declines. It is known as “Total Market” and it’s both dangerous and damaging! The main symptoms are indifference, lethargy, laziness, shortsightedness or even blurry vision, which results in overall brand weakness and connection fatigue.  By Luis Miguel Messianu Founder-Creative Chairman-CEO at Alma