How Marketers Are Budgeting for Newer Media Platforms to Reach Multicultural CustomersOctober 5, 2012
By Bill Duggan, Group EVP, ANA
ANA has just completed and released research to help understand how marketers are using newer media platforms to reach multicultural customers (e.g., mobile, social media, webinars, blogs, search, and more). The results include some interesting findings related to how marketers are budgeting for this.
The great majority of marketers project they will spend more (60%) or the same (24%) on newer media for multicultural efforts in 2012 compared to last year. The average increase in spend on newer media for multicultural marketing in 2012 is 9%. Meanwhile, the great majority of marketers project they will spend more (56%) or the same (31%) on all multicultural media compared to last year. The average increase in spend on all multicultural media in 2012 is also 9%.
Respondents to the survey were asked how newer media platforms for multicultural customers are currently being funded at their company. More than half surveyed (56%) said the funds are shifted from the general market media/marketing communications budget. An additional 22% have shifted funds within their multicultural media/marketing communications budget. Only 28% have an incremental budget. This indicates that marketing budgets continue to be under pressure, and while there may be some incremental budget available for multicultural newer media marketing, for the most part, existing funds are simply being reallocated.
Finally, in 2012 the average percentage of the multicultural media budget allocated to newer media platforms was 7.7%. That percentage is likely too low, as the consumers’ consumption of newer media in reality represents a much bigger percentage of their overall media consumption. At the same time, investment in multicultural marketing overall is also likely too low for many marketers.
At the upcoming Multicultural Marketing & Diversity Conference, a panel will share the results and offer insights on the survey.
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