Despite the euphoria I felt as I took in the multiculturalism of the inauguration, as someone who has dedicated 20+ years to multicultural marketing, a question kept nagging at me.
Will Corporate America Finally Inaugurate Multicultural Marketing?
On the one hand, not only did the administration celebrate multiculturalism, but it has taken action, with the most diverse cabinet ever, the reversal of executive orders to restrict diversity training, and actions to advance racial equity and support for minorities.
On the other hand, despite some positive multicultural initiatives sparked by the pandemic, Black Lives Matter and #MeToo, corporate America has continued to neglect multicultural marketing.
The ANA’S AIMM Alliance “The Case for Change” goes beyond imagery and aggregates data that makes a clear case for multicultural marketing. For example:
Smart Multicultural Marketing Works
Despite the preponderance of data, corporate America’s neglect of diversity and multicultural marketing is clear.
A 2020 report by ANA’s AIMM found that 88% of member company CMOs are White, while only 5% are Asian, 4% are Hispanic and 3% are Black.
Corporate America is also underinvesting in multicultural marketing. According to ANA’s AIMM, multicultural consumers comprise 40% of the population, yet multicultural media investments comprise only 5.2% of the total.
If a U.S. presidential team can celebrate the rich multiculturalism of the U.S. and quickly take real action to support our minority communities, why hasn’t corporate America inaugurated multicultural marketing?
Not only does the data illustrate that multicultural marketing is good business, but the pandemic and systemic racial inequality have disproportionately impacted multicultural communities. If this is not a catalyst for corporate America to act, I don’t know what is.
I challenge marketers to get loud and inaugurate multicultural marketing.