In a recent study, the buying power of African Americans (regardless of age) has topped $1 Trillion dollars, yes Trillion with a T. So what does this mean for big box stores, online retailers and even restaurants? It means people are consuming and spending in ways like never before. However, it is not just about the money but rather how to woo African American consumers from the heart. Again this is not about cashing in, but rather understanding the market and what it can do for companies of all sizes.
- Show them diversity before they show you the money! Companies can’t be passive when it comes to showing people of color in their ads. Showing young, older, happy and capable shoppers brings value to any campaign.
- Invest in hiring. People relate to people that look like them – so while giving money to colleges or communities is wonderful, it is even better when companies take time to hire diverse individuals at all levels.
- Show your tech. Online shopping grows each year and it matters. If your site is not mobile friendly people will not stick around to read or shop.
- Be sensible. Think about your audience and what the product means to them. Don’t just throw together a campaign and stamp the word black or African American on it but think about the impact it will make. Speak to the audience like they are your friend not a walking wallet. Dig into cultural references. Fact check.
- Have a voice. People pay attention to what companies are saying and posting and what they aren’t talking about. By supporting or speaking out about injustice, education, technology, family, community, etc brings a human element to your brand. While you don’t have to target everything – it is refreshing when a company takes a stance.
What would you add to the list? How do you like for companies to reach/market to you?