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Multicultural Priorities in the C-Suite

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Key Takeaways

Geoscape provides market intelligence including data, systems, research, and analytics for companies seeking growth in a culturally diverse economy. Cesar Melgoza, Founder and CEO, presented the results of a study from the first quarter of 2015. Geoscape asked 150 senior marketing leaders key questions about multicultural priorities.

Multicultural Priorities

  • Approximately 50 percent of executives had a specific multicultural initiative in place.
  • 80 percent of B-to-B marketers did not have a multicultural initiative.
  • More than one-third of respondents who did not have a multicultural initiative indicated that it wasn’t a priority for the business.
  • One-third of respondents with a multicultural program indicated that the program was strategic or mission-critical.
  • More than half of respondents indicated that they were deploying a total market approach, where all cultures were integrated and resources were pooled.

Program Funding

  • Of companies that had multicultural marketing programs in place, only 23 percent were allocating funds based on anticipated future growth.
  • More than three quarters of companies allocated less than 15 percent of the marketing budget to multicultural. This is less than companies should be spending.
  • A majority of respondents indicated that multicultural programs faced too many competing priorities or insufficient buy-in among colleagues.
  • More than half of respondents expected multicultural budgets to increase going forward.

Conclusions

  • Adoption of multicultural initiatives has increased over the years.
  • Compared to growth in multicultural populations and spending power, multicultural programs still lag behind opportunities.
  • C-suite executives need to be educated about the importance of multicultural programs.
Source

"Multicultural Priorities in the C-Suite." Cesar Melgoza, Founder and CEO of Geoscape. MediaPost Engage: Hispanics Conference, 9/17/15.

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