Name: Equity and the bottom line: Are you missing out on minority audiences?
Uploaded: 2023-10-26T11:32:35.695Z
Duration: 620.52

RZylberberg_v2.mp4

RZylberberg_v2.vtt

English

{{00:00:00}}
We care about minorities.

{{00:00:01}}
Oh, how is the budget?

{{00:00:03}}
Oh, is 9% of the budget is for minorities.

{{00:00:06}}
Minorities are 37% of the
population, so I don't get it.

{{00:00:11}}
You need to see that
reflected in the numbers.

{{00:00:23}}
We are talking today a lot around equity.

{{00:00:26}}
Can you paint a picture of
opportunities minority markets present

{{00:00:31}}
to businesses around the world?

{{00:00:34}}
What's happening is that,  organizations,
usually  they have a structure where

{{00:00:40}}
they see the big audience first.

{{00:00:43}}
And then they look at the other
audiences as an afterthought

{{00:00:47}}
, but  what's happening lately is
that some of the budgets that

{{00:00:53}}
usually are given to the bigger
audiences, they're, they're stuck.

{{00:00:56}}
They, they cannot grow that much.

{{00:00:58}}
And the populations that are
growing the most are minorities.

{{00:01:02}}
We know that the U.

{{00:01:03}}
S.

{{00:01:03}}
will be a minority country in, in a
few decades, less than two decades.

{{00:01:08}}
So, basically the opportunity for the
brands now is to start looking for

{{00:01:13}}
opportunities, or where to invest.

{{00:01:17}}
But I will say that not in a
in a very transactional way.

{{00:01:22}}
I think that the brands are doing the
best,  are the ones who are looking to

{{00:01:27}}
engage with communities and minorities.

{{00:01:32}}
And then get their trust
and then sell, you know?

{{00:01:35}}
But I think there is a big opportunity
for, for brands to start looking at this

{{00:01:40}}
as a, a flourishing business, I would say.

{{00:01:43}}
How often is this, are minorities
catered to as a, as a core audience?

{{00:01:50}}
Not very often.

{{00:01:51}}
But there are some brands that are
understood exactly how things are

{{00:01:55}}
moving and they started creating
their strategies with that in mind.

{{00:02:00}}
So,  you see that when it's, when you
see one brand talking to different

{{00:02:06}}
segments, you can see when something
is really thoughtful and you can see

{{00:02:11}}
sometimes when they were short of budget
or they say, okay, throw a Hispanic

{{00:02:15}}
here, throw a black person here.

{{00:02:17}}
Boom.

{{00:02:18}}
That's our strategy to gain that,  segment
and, and they are disappointed when they

{{00:02:24}}
see that they're not
getting to their goals.

{{00:02:27}}
But I see some companies are doing good
that they're just thinking about it.

{{00:02:31}}
And some are just still stuck with this
old mentality,  thinking that everything

{{00:02:36}}
is monolithic and that things will,
you know, will go this way forever.

{{00:02:42}}
Businesses today think that adding
inclusive creative campaigns or even

{{00:02:47}}
hiring minorities in maybe diverse models
solves that problem, but actually building

{{00:02:54}}
authenticity is about so much more.

{{00:02:58}}
Yes, I see that some organizations do
that because of,  it's a checklist.

{{00:03:03}}
You know, Oh, we have to have
a minority thing going on.

{{00:03:06}}
So let's hire a black person here,
Hispanic here, Hey, you know, get

{{00:03:12}}
into the strategy or sit on the table.

{{00:03:15}}
Sometimes it's not like that.

{{00:03:16}}
Some of the companies saw
that and started from top.

{{00:03:21}}
So sometimes you see CEOs
that are part of a minority.

{{00:03:24}}
So.

{{00:03:25}}
It's, it's almost,  it's going to be
sure that they will have a different

{{00:03:29}}
type of lens to see things through.

{{00:03:32}}
So,  I think that the companies
that are doing that, at least

{{00:03:36}}
they have a good intention.

{{00:03:39}}
Doesn't mean that that
gives you the best results.

{{00:03:43}}
Everything is,  first you need to put
everything in place and then you need to

{{00:03:48}}
see what you do with it because it's not
enough to invite people to the table.

{{00:03:52}}
But, you need to, you know, let
them order the wine they like.

{{00:03:57}}
Or choose the kind of food
they like from the menu.

{{00:04:00}}
But I think that numbers are,
are telling a different story.

{{00:04:03}}
Numbers are saying that minorities,
Hispanic in particular, their power,

{{00:04:08}}
buying power is growing tremendously.

{{00:04:11}}
And their families are bigger,
larger than general market families.

{{00:04:16}}
So, I think that some people is
doing this for, because it should be.

{{00:04:21}}
Some others are doing it
because of a business.

{{00:04:24}}
I don't care.

{{00:04:25}}
What I'm saying is that the better
they,  look at it and the better,

{{00:04:30}}
the better they,  get prepared, they
will get more authentic engagements.

{{00:04:38}}
What would you, I guess, what advice could
you give to marketers who are looking to

{{00:04:42}}
create a little bit more genuine equity,
in their campaigns for this group?

{{00:04:48}}
I think that if you're trying to gain or
get some traction with something you don't

{{00:04:54}}
know, you need to be more open to learn.

{{00:04:58}}
And also to test and be comfortable
that you don't know the answers.

{{00:05:04}}
Sometimes we want to predict
everything, and in some cases it's hard.

{{00:05:08}}
What I will tell to, you know, those
groups is that A, try to listen

{{00:05:14}}
and try to research a little bit.

{{00:05:18}}
And B is, I will say, hire the
people that may give you a different

{{00:05:23}}
perspective that is not yours.

{{00:05:25}}
You don't have to agree with
everything because it's a

{{00:05:27}}
segment that you're not part of.

{{00:05:29}}
You know, and I guess in a lot of
different communities, especially

{{00:05:32}}
as you move from one to the other,
there are a lot of nuances that

{{00:05:36}}
come with different groups, even
subgroups like cultural hybrids.

{{00:05:41}}
What, I guess, where can marketers go to
understand their interests and collect

{{00:05:46}}
data insights that can be used for really
impactful content that again is really

{{00:05:51}}
authentic and can provide some equity?

{{00:05:55}}
For me, social listening is key.

{{00:05:58}}
There are many, many tools
that you can use to get.

{{00:06:02}}
You know, you can use many, and to
get insights, comments, sometimes a

{{00:06:08}}
reply to a comment of a post is more
insightful than a whole seminar.

{{00:06:15}}
And what we do a lot is to listen to that.

{{00:06:19}}
It's like having an ear in the ground,
trying to see, okay, what's going on?

{{00:06:22}}
It's not what I see, it's what's
going on, what's happening.

{{00:06:27}}
And to create, test, and pivot.

{{00:06:30}}
And I know you talked about earlier.

{{00:06:32}}
around, you know, minorities
becoming the majority of us in a

{{00:06:38}}
way or being untapped audiences.

{{00:06:41}}
Do you think that it's actually
about ignoring the majority and

{{00:06:44}}
maybe focusing on the minority?

{{00:06:46}}
And where might this present
some potential challenges to

{{00:06:49}}
marketers if that's the case?

{{00:06:51}}
I don't think that it's ignoring the
majority because that won't be savvy.

{{00:06:55}}
I think that it's...

{{00:06:56}}
And usually what was happening is that,
okay, you need to market something,

{{00:07:00}}
you go to the white audience that
was, at one point was 63 percent of

{{00:07:04}}
the population with a big income.

{{00:07:07}}
So, but now things were, are so even
that even culture things are blurred.

{{00:07:15}}
You know, probably 20
years ago was one thing.

{{00:07:19}}
And now because of the internet,
because of the two ways,

{{00:07:23}}
communication, social media, many,
many things, things are more blended.

{{00:07:28}}
So, what I think that could be good is to
start with something that if it captures a

{{00:07:35}}
minority it can permeate to the majority.

{{00:07:41}}
So, it's flipping what's actually
happening and learning and applying

{{00:07:48}}
all the learnings to the bigger groups.

{{00:07:50}}
You know, I think that in many
cases they're not looking at the

{{00:07:54}}
minorities as consumers, more
of a, oh, we have to do that.

{{00:07:59}}
You know, like,  really?

{{00:08:02}}
It's, for me, it's some organizations
are not understanding that

{{00:08:06}}
things are changing very quick.

{{00:08:09}}
And if they don't adapt, they may die.

{{00:08:13}}
How can marketers ensure that their
commitments to minority inclusivity

{{00:08:17}}
are measurable, impactful, and also
profitable because of the worst?

{{00:08:21}}
They are measured on that.

{{00:08:22}}
It's not just, I think we want to
bring equity, but at the end of the

{{00:08:25}}
day, they have their bosses and the
bottom lines to kind of look at.

{{00:08:28}}
So how can we kind of
bring both to the table?

{{00:08:31}}
I think that is more of a
part of a culture shift.

{{00:08:35}}
That needs to happen because obviously
everybody has bosses that want to, but

{{00:08:40}}
then the bosses need to understand that.

{{00:08:43}}
You know, the boards need to understand
that because it's kind of,  hypocritical

{{00:08:51}}
at some point, you know, you're
saying we care about minorities.

{{00:08:54}}
Oh, how is the budget?

{{00:08:56}}
Oh, it's 9 percent of the
budget is for minorities.

{{00:08:59}}
Minorities are 37 percent
of the population.

{{00:09:01}}
So I don't get it.

{{00:09:04}}
You need to see that
reflected in the numbers.

{{00:09:07}}
If you really want to do change,
make a change happen, you

{{00:09:12}}
need to put money behind it.

{{00:09:14}}
And at some point you need to be
good being uncomfortable for, you

{{00:09:18}}
know, probably one year or so.

{{00:09:22}}
I think that at one point people
needs to understand that if you're

{{00:09:27}}
going to be only transactional, then
people will look at you differently,

{{00:09:33}}
that if you're an organization that
engage you, speak with you, is not

{{00:09:38}}
trying to sell you stuff every time.

{{00:09:40}}
I think that C suite needs to be, you
know, listening,  on what's going on and

{{00:09:49}}
be less out of touch of what's happening.

{{00:09:52}}
Cause if not, you know, the
gap will get bigger and bigger.

{{00:09:58}}
At one point, if people don't trust your
brand, you can't do anything because now.

{{00:10:04}}
Two ways communication, you're, you
could be dead with a tweet, basically.

{{00:10:09}}
So, why, why exposing yourself
if you can do it right?

Oh, is 9% of the budget is for minorities.

Minorities are 37% of the
population, so I don't get it.

You need to see that
reflected in the numbers.

We are talking today a lot around equity.

Can you paint a picture of
opportunities minority markets present

What's happening is that,  organizations,
usually  they have a structure where

And then they look at the other
audiences as an afterthought

, but  what's happening lately is
that some of the budgets that

usually are given to the bigger
audiences, they're, they're stuck.

And the populations that are
growing the most are minorities.

will be a minority country in, in a
few decades, less than two decades.

So, basically the opportunity for the
brands now is to start looking for

But I will say that not in a
in a very transactional way.

I think that the brands are doing the
best,  are the ones who are looking to

And then get their trust
and then sell, you know?

But I think there is a big opportunity
for, for brands to start looking at this

as a, a flourishing business, I would say.

How often is this, are minorities
catered to as a, as a core audience?

But there are some brands that are
understood exactly how things are

moving and they started creating
their strategies with that in mind.

So,  you see that when it's, when you
see one brand talking to different

segments, you can see when something
is really thoughtful and you can see

sometimes when they were short of budget
or they say, okay, throw a Hispanic

That's our strategy to gain that,  segment
and, and they are disappointed when they

see that they're not
getting to their goals.

But I see some companies are doing good
that they're just thinking about it.

And some are just still stuck with this
old mentality,  thinking that everything

is monolithic and that things will,
you know, will go this way forever.

Businesses today think that adding
inclusive creative campaigns or even

hiring minorities in maybe diverse models
solves that problem, but actually building

Yes, I see that some organizations do
that because of,  it's a checklist.

You know, Oh, we have to have
a minority thing going on.

So let's hire a black person here,
Hispanic here, Hey, you know, get

Some of the companies saw
that and started from top.

So sometimes you see CEOs
that are part of a minority.

It's, it's almost,  it's going to be
sure that they will have a different

So,  I think that the companies
that are doing that, at least

Doesn't mean that that
gives you the best results.

Everything is,  first you need to put
everything in place and then you need to

see what you do with it because it's not
enough to invite people to the table.

But, you need to, you know, let
them order the wine they like.

Or choose the kind of food
they like from the menu.

But I think that numbers are,
are telling a different story.

Numbers are saying that minorities,
Hispanic in particular, their power,

And their families are bigger,
larger than general market families.

So, I think that some people is
doing this for, because it should be.

Some others are doing it
because of a business.

What I'm saying is that the better
they,  look at it and the better,

the better they,  get prepared, they
will get more authentic engagements.

What would you, I guess, what advice could
you give to marketers who are looking to

create a little bit more genuine equity,
in their campaigns for this group?

I think that if you're trying to gain or
get some traction with something you don't

And also to test and be comfortable
that you don't know the answers.

Sometimes we want to predict
everything, and in some cases it's hard.

What I will tell to, you know, those
groups is that A, try to listen

And B is, I will say, hire the
people that may give you a different

You don't have to agree with
everything because it's a

You know, and I guess in a lot of
different communities, especially

as you move from one to the other,
there are a lot of nuances that

come with different groups, even
subgroups like cultural hybrids.

What, I guess, where can marketers go to
understand their interests and collect

data insights that can be used for really
impactful content that again is really

There are many, many tools
that you can use to get.

You know, you can use many, and to
get insights, comments, sometimes a

reply to a comment of a post is more
insightful than a whole seminar.

And what we do a lot is to listen to that.

It's like having an ear in the ground,
trying to see, okay, what's going on?

It's not what I see, it's what's
going on, what's happening.

around, you know, minorities
becoming the majority of us in a

Do you think that it's actually
about ignoring the majority and

Expert Insight

Until recently, many brands have been guilty of tokenistic representation when it comes to minority audiences. Norberto Zylberberg, founder and Chief Creative at Socialisssima, argues that not only is properly considering your minority customers the right thing to do, it also makes good business sense.
Zylberberg spoke to Streamly's Jordan Thorne about the changing cultural landscape and the need for more authentic and inclusive marketing strategies.

thumbnail_Norberto-Zylberberg_502407_1691677463.jpg

xsmall_Norberto-Zylberberg_502407_1691677463.jpg

Norberto-Zylberberg_502407_1691677463.jpg

Norberto Zylberberg

Discover insights from other experts

Founder and Chief Creative

Zylberberg explains how organisations that traditionally prioritise larger audiences are missing out on a growing customer base.

Exploring the potential of minority markets

Zylberberg notes that while many brands  overlook diverse segments, some forward-thinking companies do have thoughtful and inclusive strategies.

Win trust first, sales later

Zylberberg notes a promising trend where companies are becoming more considerate. Authenticity goes beyond mere representation and it involves understanding and meeting the unique needs and preferences of diverse groups.

Authenticity in marketing for customer equity

Zylberberg provides advice on the importance of adopting a learning mindset and suggests the value of listening, conducting research, and engaging with diverse perspectives.

Advice for minority empowerment

Discover from Zylberberg the importance of social listening to identify key areas of concern for your audience.

The power of social

According to the speaker, starting with minority audiences as the initial focus can lead to broader appeal with the majority. Organisations not adapting to these shifts risk becoming obsolete.

Minority interests are not exclusive

Zylberberg underscores the marketer's challenge of balancing equity and financial objectives, advocating for a cultural shift calls for financial commitment and acceptance of some discomfort to drive change.