Beef Checkoff Program: Veal Issues Management & Veal Quality Assurance
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Transcript of 8 15-jim veal-845am
Strategies For Expanding intoMulti‐Cultural Markets
AGENDA
• Growth of the African American & Latino markets• Facts/Myths of the African American consumer• Challenges/Opportunities in reaching the African American consumer
• How to help agents reach this demographic market• Top marketing strategies to build your business in the African American market
U.S. Minority Buying Power(Billions of dollars)
1 1.031.1
1.2
0.957 0.98 1 1.03
0.5430.67 0.718 0.76
0
1
2
2010 2011 2012 2013Hispanic Black Asian
U.S. Minority Population[CATEGORY NAME]13.2%
[CATEGORY NAME]17.1%
[CATEGORY NAME]5.3%
[CATEGORY NAME]64.4%
African Americans
Latinos
Asians
Rest of U.S.
A Country Within a Country
Higher Increases in:
Earnings Population Education
How to Influence the Black Consumer?
African Americans highly respond thru:
Television Radio Advertising/Marketing
Facts / Myths Negative feelings about the economy? Total advertising spent toward African
Americans is 2%? They are very interested in improving
their financial knowledge/illiteracy? AA’s own insurance products at equal or
greater rates than the general population?
What Are They?
9/10 3/4
93% 69%
How Can the Industry Help Agents
How Your Company Can Help Agents
• Provide Marketing, Prospecting, and Advertising materials featuring African Americans
• Establish Mentorship Programs and Team Building Opportunities
• Feature Successful African American Advisors as Speakers at Major Conferences (such as this one!)
• Become Marketing Experts
Top 4 Ways to Build Your Business
Teach a Financial Literacy Class Lunch‐n‐Learns
Networking
Thank You
Q & A?