LOS ANGELES, Oct. 5, 2016 /PRNewswire-USNewswire/ -- According to AHAA: The Voice of Hispanic Marketing, many marketers are misapplying Total Market strategies resulting in devastating effects in multicultural market share. An industry-wide initiative, led by AHAA in collaboration with the Association of National Advertisers (ANA) and other multi-cultural experts, clarified that reaching today's increasingly diverse new mainstream lies in the "Power of AND" – a Total Market approach requiring both a culturally nuanced mainstream campaign AND integrated, yet relevant, segment campaigns.
"True Total Market success comes from both a new mainstream market lens AND a segment lens," said Eric Reynolds, CMO of Clorox. "There are no short cuts to getting great work that moves the sales needle."
According to AHAA Chair Linda Lane Gonzalez, "Inclusive campaigns are merely the basic minimum brands can do to reflect the new mainstream but it falls short of addressing the total opportunity. Without dedicated segment approaches working in synergy with mainstream work, business growth falls flat."
To help clear the confusion, the trade groups have developed three guiding principles for proper implementation of Total Market:
- Total Market efforts need to be comprised of a diverse American Mainstream PLUS demographic, cultural and language segments.
- Total Market insights need to be embedded throughout the marketing process.
- Reaching the New Mainstream requires both a culturally nuanced mainstream campaign AND integrated yet relevant segment campaigns.
"If you are only doing mainstream advertising, and calling it Total Market, you are missing out on significant market share volume opportunities," said Michael Lacorazza, EVP of Integrated Marketing at Wells Fargo. "You have to determine the importance of each segment for every campaign up front, budget accordingly, and provide all agencies the time to collaborate and find the best and most meaningful solutions."
AHAA also put together a short list of what is NOT a total market approach.
- It's not a general market campaign with translations.
- It's not diversity by means of inclusive casting.
- It's not a strategy to lower advertising costs.
- It's not handing off segment responsibility to agencies lacking deep cultural expertise.
On Monday, October 10, as part of the ANA Multicultural & Diversity Summit, AHAA will bring together both Reynolds and Lacorazza to candidly discuss how Clorox and Wells Fargo have brought the "Power of AND" to life with successful campaigns that do not fall for the over-simplicity of an inclusive campaign, but rather pursue effectiveness through the power of culturally nuanced mainstream campaigns and integrated, yet relevant, segment campaigns.
Founded in 1996, AHAA: The Voice of Hispanic Marketing is the national trade organization of all marketing, communications and media firms with trusted Hispanic expertise.
SOURCE AHAA: The Voice of Hispanic Marketing