Having a tough time selling your clients on increased multicultural spending? Demonstrate strong ROI! Today’s food for thought is brought to you by IMAGES USA Marketing Director Jafet Ramirez. Enjoy!
Multicultural marketing professionals wonder at the lack of enthusiasm of many organizations to directly target African American, Hispanic and other ethnic segments. Multicultural programs compete for funds with general market initiatives; therefore the way to advance business development programs on any sub-segment is to demonstrate how to build a business while achieving ROIs that contribute to overall efficiency. How to leverage available resources leading to total market share growth will be a winning argument time after time. While working at a large telecommunication company it was easy to show the high level of consumer loyalty, response rates and sales conversion ratios of Multicultural segments; the challenge was ROIs.
Don’t wait to be asked; when proposing Multicultural initiatives lead with ROIs and the rest will take care of itself.
Industry peers and contemporaries: Do you find trouble in measuring ROI for multicultural initiatives? How do your clients respond to your efforts? Comment below or Tweet us @IMAGESUSA