September 14, 2010 10:00 ET
It's Confirmed -- Social Responsibility Weighs Higher for Hispanics and African Americans Than Other Groups When Deciding to Buy According to VanguardComm
NEW BRUNSWICK, NJ--(Marketwire - September 14, 2010) - For years, communicators and marketers who work with multicultural consumers and businesses have known from experience that a brand's involvement with their community influences purchasing decisions.
Now new data from the Yankelovich MONITOR Multicultural Study 2010, analyzed by The Futures Company and co-announced with VanguardComm, a public relations firm with a specialty in these markets, reveals just how important such involvement can be.
The study shows Hispanic and African-American consumers rate the importance of a company's presence in the community, through corporate social responsibility (CSR) and cause related marketing (CRM) programs, as more significant in their buying decisions than do Non-Hispanic Whites.
Simply put, engaging in multicultural communities to make a positive difference pays off for businesses in purchasing and brand loyalty," said Esther Novak, founder and CEO of VanguardComm.
The study found that about one-third of Hispanic and African American consumers almost always choose brands because they come from companies that support causes they believe in, compared to just one in five Non-Hispanic Whites.
Hispanic and African-American consumers also expect companies to champion their causes and stand up for issues which affect their communities to a greater degree. Seventy-nine percent and eighty-four percent of Hispanic and African-American respondents respectively agreed with the statement "companies that make sincere efforts to be part of the Hispanic/African-American community deserve my loyalty."
"The results present excellent opportunities to those businesses looking to increase their brand reputation and sales," said Novak. "If you want to establish long-lasting relationships with Latino and Black consumers and businesses, you need to show that you understand and support their causes and community needs."
There were also strong feelings about the current level of business support for Hispanic and African-American communities and their causes. Sixty-two percent and sixty-eight percent of Hispanic and African Americans respectively agreed that very few brands and companies genuinely care about the state of their communities.
"These are findings that VanguardComm has believed in for years, and now we have data that supports our experience," added Novak. "We also believe CSR and cause-related marketing is an underserved area among businesses. As a result, we are using this data to champion an enhanced, formal practice to help clients use this insight and grow their businesses.
"The good news for marketers," she noted, "is there are many ways to reach out, have an impact, connect and grow a brand. Be prepared to invest, show consistency and, over the long term, get great returns."
More details about multicultural markets can be learned by calling Esther Novak of VanguardComm at 732-246-0405 or e-mailing firstname.lastname@example.org.
About the Study
The Futures Company collected data via a two-phase process: telephone and Web interviews conducted in the respondents' language of choice (Spanish or English), followed by a self-administered survey returned via mail or the Internet. Both phases of the Yankelovich MONITOR Multicultural Study 2010 were conducted from February 8 to May 3, 2010. The total sample size was 6,266 (1,645 Hispanics, 1,620 African Americans, and 3,001 Non-Hispanic Whites). The study includes an African-American identity-expression segmentation model and a Hispanic cultural-affinity acculturation segmentation model.
VanguardComm is the single source for addressing multicultural audiences. It has extensive experience helping corporate and nonprofit clients reach and engage Hispanic, African-American and Asian communities. It develops successful communication strategies and tactics through multiple channels, including -- public relations, grassroots events, sponsorships, digital and
cause-marketing. VanguardComm offers the experience of a senior-level team and the agility of an independent agency; the efficiency of a "one-stop-shop" for one segment at a time or all.