Archive for the ‘Marketing to Affluent Blacks-Steps to Take’ Category

Steps to Perfecting a Diversity Marketing Program – Part II

Sunday, January 24th, 2010

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[Excerpted from Black is the New Green: Marketing to Affluent African Americans in bookstores March 16, 2010]

Last week we previewed the first steps to creating an effective diversity marketing campaign.  Now we continue with more tips for reaching the affluent African American consumer.

Measure, Measure, Measure — Calculating the impact of your pilot program on your company’s bottom line is crucial in your ability to sustain and substantiate your diversity program.

Test, Tweak, Refine, Measure, and Repeat (TTRMR) — Since budgets are always going to be an issue, we think it’s important to create test markets or small pilot programs that give you a measurable  ROI.

Be Consistent — Once your pilot program has been refined and is a consistent success, continue to cultivate your new audience with the next level or layer of innovation.

Hire a Consultant — The successful development and deployment of integrated marketing programs requires the skills and insights of someone who understands advertising and public relations and Internet marketing and social media and event planning. A seasoned integrated marketing consultant will do the trick. This person can also help you better tap into your existing human capital, relationships with your outside agencies and investments in current programs.

Establish a Standard Operating Procedure — Even if it’s on a very small scale, establish a standard operating procedure (SOP) for evaluating the opportunities that present themselves. Do you have a standardized evaluation tool for giving all opportunities a fair assessment?

Be Nimble — Last minute opportunities give you more leverage to negotiate price and elements. A “slush fund” is an important line item in any marketing budget. It can give you a leg up on the competition.

To get the full scoop, check bookstores on March 16, 2010 for Black is the New Green.

Steps to Perfecting a Diversity Marketing Program – Part I

Monday, January 4th, 2010

[Excerpted from Black is the New Green - Marketing to Affluent African Americans in bookstores on March 16,  2010]

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Every business wants to maximize their marketing dollar but few know quite how to go about it. In the following excerpt from their soon-to-be-released book on the topic, Andrea Hoffman and Leonard Burnett shed some light on how to perfect a diversity marketing program.

Their steps for success include:

1. Conduct a Marketing Audit — An audit helps to assess exactly where the opportunities are, and where the risks might be, and how to mitigate them.

2. Establish Partnerships — These partnerships could be with philanthropic or cultural arts organizations that already enjoy the support of the local community you wish to reach.

3. Alert the Media — Send pre- and post-event press releases to whatever media outlet your brand is partnered with.

4. Host the Event and Use the Content — start with a concept that is measurable and scaleable, one that resonates universally with this consumer across the country.

5. Establish a PRM Metrix — The primary purpose of data capture is to create a prospect relationship management (PRM) system. The PRM system that any one entity creates can be as simple or as sophisticated as the client likes.

Check back with us next week for the final steps to developing an effective diversity marketing strategy from the book Black is the New Green.

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