When the “Multicultural” Penny Dropped – NCM

Gautam Nath of Balmoral Multicultural Marketing on marketing to an increasingly diverse Canada:

Research was the backbone to facilitate professionalism in this market. There were but one or two long-established multicultural communication firms in Canada 20 years ago. Soon talent got together and a string of new agencies cut their teeth in the new space.

Today, there may be over 20 agencies, and in this digital era, each one looks very professional and established online.

The proof is in the pudding, however. Several agencies are literally one-man-shows operating from the confines of their basements looking to bag new business. A few have dedicated physical office space but operate with less than a handful of staff. And, literally, less than five agencies have dedicated in-house resources to support the full suite of client needs. However, this thin selection is supported by a contingent of planning, production, and other freelancers that give outside support to wherever the business goes.

Notwithstanding, over the years, the market has seen a wide range of companies wooing the multicultural consumer. In fact, it is estimated that the dollar spend of this community is about $40 billion annually and growing. But the challenge is that few marketers are constant spenders year on year.

With clients being erratic in their spending, each year is anybody’s guess.

Fortunes are made in a day and fortunes are lost with equal haste in the multicultural support services business. The long-standing, endurance-oriented and action-driven agencies will survive, others will truly shake in the wind.

Product groups that addressed these segments were the Big 5 banks initially and then the telecommunication providers. This was soon followed by large retailers, food products, real estate, automotive and entertainment. Education and settlement agencies are also growing in their spend in communicating to these audiences. But other than a handful with long-term vision and deep pockets, many are still in a pilot and a learning phase.

When the “Multicultural” Penny Dropped – New Canadian Media – NCM.