Covering the importance of cultural diversity, diversity, and bridging
the digital divide in e-business.
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Cultural Diversity FAQs
Why does your site cover issues of digital diversity
and cultural diversity?
We are a site that covers minority business issues from
a netcentric perspective. The Internet is a worldwide media, and to be
successful in online business, companies will have to open to the culture
of diversity to compete online going forward in ecommerce.
How does diversity help me in ecommerce?
More and more people from around the world are connected
to the Internet either from land lines or wireless. By the year 2005 there
will be 1/2 billion Chinese persons online. Also there are 15 million
Hispanics and 10 million Blacks online.
Furthermore, women are now the largest group using the
Internet. Therefore diversity is the order of the day to reach the Internet's
culturally diverse demographics.
Both groups have very distinct surfing patterns online.
As more and more people of color go online diversity will be major point
to running a profitable business.
Why don't people just conform to Western business practices
like in a melting pot cultural scenario?
People have different languages and cultural practices.
Culture is a very nuturing and essential part of people's lives. Since
all cultures of the world have their unique contributions and genius,
it is important to respect and recognize the cultures of all people, especially
your potential customers if you want to build your brand and business.
Respect and trust are very important in transacting any
business. If the role of business is to solve the problems and fill the
needs of its consumers, then business should be willing to understand
and support its diverse target markets. The customers and target markets
shouldn't have to facilitate the businesses it should be the other way
around. Business in other worlds have to learn to talk the language of
its target markets and customers.
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Diversity in Business and Finance Section
Covering
the Importance of Cultural Diversity in Ecommerce, the Digital Divide,
and Financing Sources for Minority Business
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Top Story The Future of Cultural Diversity and E-business.
Article on Pinpoint Profit with Diversified Digital Dollars! To
read this article on Diversity and the Demographic growth on the
Internet Click Here
Index
of the Digital Divide Bulletin Board
On Page 1:
Minority
Business Grants
Black Business Grants (DDBBB)
Spring
Microsoft Technology Enriched Communities Grant.
HP's
Microenterprise Development Program Grant
Deutsche
Bank Grant Information
Computer
Training Grant
Free
Courses & Scholarships from CyberLearning.org
Grant
Application for FREE Computers in NYC/March
Source
for Grant Research
Minority
business grants by BlockBuster
Pfizer
Offers Minority Focused Grants to Fight Aids
Grants
for Genealogical Organizations
African
American Male Involvement Research Grant Project
Household
Minority Financial Grants
Click Here for Minority Business
Grants
On Page
2:
Minority
Loans and Major
Corporate Contract Connections
Bank of America is named top national SBA minority lender
Resources
to Gain Government and Major Corporate Contracts.
How
to Sell to New York State - Including
Great Sources for Any Small or Minority Business Funding.
Diversity
2000 Connects Small Business Suppliers with Large Companies.
SBA
Plans Matchmaking Sessions for Small Business.
For
The Above Stories Click Here
2. The House gets 125 million for the SBA into the Military Spending Bill. This is an attempt to get more money into the SBA loan program. Check out this story on the SBA spending extension program here
3. The Obama administration looks to keep money coming into the SBA. This article explains the growing developments with the Obama SBA loan program.
See
the Stories Below on Overcoming the Digital Divide and the future of
diversity online.
Diversity and Demographic Growth
on the Internet:
Pinpoint Your Profits with Diversified Digital Dollars
By Kamau Austin
" Showcasing Your Products and Services with Different
Ethnic Groups and Identities is Good for Your Business".
If you could increase your income or subscribers by 25%,
in 2004 for...f-r-e-e, wouldn't this be a great boost for your business?
Just imagine if this increase in your business could be accomplished just
by thinking outside of your comfort zone, or adjusting your mental attitudes.
While the great Internet gurus sell us every secret to surviving and thriving
on-line, I discovered a little secret many of the web gurus of the world
overlook. This basic insight could really add a good bottom-line boost
to your business.
Lacking from the discourse, of major Internet marketers,
is the concept of simply helping your prospects, of various ethnic backgrounds
and identities, to envision themselves using your products and services.
While major corporations have found out, through marketing
research, and business schools also acknowledge the bottom-line benefits
of diversity and ethnic marketing, many Internet business people don't
understand the profit power of diversity. I am amazed, at how so
many web businesses act as if they are in a time warp, back in 1995, when
the Internet audience was a general market male dominated media.
Search many web business sites, and you will notice many
have little if any pictures of Blacks, Hispanics, or Asians using their
products or services. Even women, the dominant group on the web now, are
depicted very
little on some small business web sites. Mature models are also very scarce
on the web, which is ironic because, this is a great market to sell products
to on-line.
" Women Rule the World On-line"
The Majority of Internet Users are Women (51% according
to E marketer statistics). Women are responsible for 80% of household
purchases. As of 2002 75% of Women had yet to shop on-line, therefore
this market is poised for explosive growth. Sixty three (63%) of women
shop more than once a week. While men focus on transactions in shopping,
women seem to focus on relationships (Source: Make My Site Sell!). Therefore,
develop good perceptions and relations with women, let them experience
your concern for them as customers, and your income is sure to grow.
Make More Money with the Mature Market On-line
By 2007 senior citizens will comprise about 25% of the
percentage of people that buy products via the Internet. Presently, there
are about 7.6 million senior citizens on-line. This population is predicted
to grow to 16.3 million by 2007, with the biggest growth period being
in 2004. Furthermore, mature persons comprise a large part of Internet
users today with 40.2 million users being middle-aged adults (ages 35-49)
and 23.7 million older adults (ages 50-64). That's over 71.5 million Internet
users over the age of 35 (Source: Jupiter Research).
Contrary to popular belief, that young people are the primary
group using the web, as a location for their business, 80 percent of on-line
small business owners surveyed are over 30-years-old (Source: Affinity
Internet).
The over 35 demographic disproportionately buy items over
the Internet. This is why you should design your sites to be user friendly
to people over 35, in most cases (unless you have a youth orientated site).
Make sure your type is large enough and contrasts with your background
to be readable because, eye sight tends to deteriorate with age. Moreover,
make sure you include
pictures of mature person's on your web site to woo this market.
People of Color Portend Phat Profits!
Hispanics are now the largest ethnic minority (Hispanics
are not a racial minority because they are comprised of different races)
with 38.8 million people in the U.S. According to the U.S. Census, there
are about 15 million web users of Hispanic Descent (Source: U.S. Hispanic
Cyberstudy by AOL/Roper ASW U.S.). Hispanics spend more time on-line than
the general population (Source: www.Terra.com).
Hispanics spend about $439 dollars each on-line a quarter,
or approximately about 6,585,000,000 (almost 6.6 Billion dollars) in aggregate
income (every 3 months). You do the math, this means Hispanic web users
spend about 26.4 billion dollars on-line. The US Hispanic Market presently
has a buying power of 580 Billion Dollars (Source: Emarket Inc.). You
would be crazy to ignore this on-line ethnic market.
Blacks represent 8 percent of Internet users with 10 million
users (While Hispanics are the largest ethnic minority, Blacks are still
the largest racial minority with 38.3 million people according to the
census). Blacks are converting to broadband (high speed Internet access)
at a fast pace with over 32% of blacks on-line with high speed connections
(Source: Nielsen Net Ratings). Blacks seem to be more brand loyal in their
Internet consumer attributes, with most of them using the services of
AOL, MSN, and Yahoo.
More importantly for our study, Blacks now have over 631
Billion dollars in buying power (Source: Target Market News). The Black
or African American market, is projected to have a buying power of 850
billion dollars by 2007 (Source: Emarketer inc.), which means probably
within 5-7 years it will reach 1 trillion dollars
in buying power. If you are looking to expand your customer base, perhaps
optimizing your site for both the search engines, and diversified digital
dollars can help you reach your goals.
Surviving and Thriving in the New Era of Diversified
Digital Dollars.
On a personal note, I have adjusted my thinking and attitude
for the diversified marketplace and have seen big dividends in return.
For instance, I have a site http://www.einfonews.com that helps close
the digital divide in e-commerce. I was once using generic terms like
Black and minority business to describe my site. My site was optimized
for minority business keywords. I could only get 5 or 6 people a day (or
about 175 a
month) to subscribe to my ezine, despite every effort to
increase my conversion rate. I brainstormed for a long time to figure
out how to increase my ezine subscriber ratio.
One day I got the idea, to stop only using the keywords
black and minority in my web copy, and to include the keyword Hispanic
as well. The exact hour I included the keyword Hispanic, my subscriber
rate increased 33%, with many of the new subscribers having Spanish sounding
names. In other words, be inclusive in your words and graphics, and increase
your response rates. I am sure, if I also used more diversified graphics
my conversation rates would go up as well. Currently, I have increased
my subscribers by almost 300% a month using these methods.
From Minorities to Emerging Markets with 1.5 Trillion
Dollars in Buying Power!
I almost forgot to mention the phenomenal growth of the
Asian market on-line. Just to make a point, according to a new report
by E marketer statistics service, by 2007 half of the Internet's users
will be Chinese (who are only a portion of the Asian net
users)! Presently the US Asian market has a buying power of over 296.4
billion dollars, which is projected to grow to 454.9 billion dollars by
2007.
This means the three largest so called "minorities
groups" in the US currently have a buying power of over 1.5 Trillion
dollars. The marketing trend is to stop thinking of people of color as
"minorities", and think of them as emerging markets. It's time
for all of us, to broaden our thinking towards other cultures, in order
to survive and thrive in a new era of diversified digital dollars.
Kamau Austin, helps small and minority business make more
money, by creating, search friendly web sites. He is the owner of www.Ebizbydesign.com,
Einfonews.com, and the creator of the Free
Search Engine Promotion Tele-course
Diversity Marketing and Advertising Strategies the
Way to Sell to the New Mainstream
The challenge is for corporate decision-makers to invest
in advertising that builds relationships with multicultural consumer
groups and consistently delivers believable messages. As of 2002, Americans
of African, Asian and Latin American ancestry ("the new mainstream")
possess combined purchasing power of $1,522,800,000,000. Crossover Creative
Group president Steve Climons said, "I see huge opportunities for
marketers and advertisers of major corporations to better their business
opportunities and increase market share by communicating with the multicultural
population."
Richmond, CA - Crossover Creative Group is a stealthy
Richmond, California-based multicultural advertising agency that takes
a unique forward-thinking approach to reaching the "Two out of
five (that is 41%) people in urban markets," which according to
the market research firm Horowitz Associates, Inc, "are Americans
of African, Asian and Latin American ancestry."
Crossover tagged this urban consumer market "the
new mainstream" due to its increasing contribution to U.S. economy;
growing influence in changing consumer trends; and the positive effects
of its rapidly advancing academic and professional status. Crossover's
founder and president Steve Climons points out, "That as of 2002,
the combined purchasing power these markets is one trillion, 522 billion,
800 million dollars ($1,522,800,000,000). That is over a billion and
a half more than 2002 GNP of the United Kingdom.1" Crossover's
strategy throughout its six-year existence has been to recognize the
significance of multicultural marketing and leverage its increasing
importance in strengthening of the U.S. dollar in the global marketplace.
When it comes to promoting products to key regional markets,
the Horowitz Associates' report titled Urban Markets in the U.S. supports
Climons' agency stance: "Urban U.S. markets are inhabited by a
growing multicultural population: the proportion of racial and ethnic
"minorities" in urban areas is greater than that for the country
as a whole."
What's more, the U.S. Census Bureau sees the future through
Climons' eyes as well. By the year 2050, individuals of Hispanic origin
are expected to increase 188%; almost doubling their share in the nation's
population; persons of Asian descent are expected to increase 213%,
also effectively doubling their numbers; and people of African descent
are expected to increase 71%; raising their numbers to almost 15% of
the total U.S. population.
"I see huge opportunities for marketers and advertisers
of major corporations to better their business opportunities and increase
market share by communicating with the multicultural population."
Climons continued, "To do so simply makes good business sense.
The rapid growing multicultural population deserves and responds to
respect and real connections."
The challenge is for corporate decision-makers to invest
in advertising that builds relationships with multicultural consumer
groups and consistently delivers believable messages. Having represented
Fortune 500 companies, Crossover possesses considerable general market
advertising and significant ethnic market advertising experience. The
company has employed unique and extensive mass market research methodologies
that along with its real-world experience qualify the group as experts
in the field of multicultural marketing.
Climons explains that, "Across the board, research
shows people of African American, Asian and Hispanic ethnicities to
be brand loyal consumers. Therefore today's marketers must create meaningful
relationships with the multicultural market in order to capture their
loyalty from competitors and keep it. Roller coaster price points won't
make this market switch brands; nor will superficial holiday-only advertising
or displays."
Crossover encourages companies to go beyond trite messaging
in order to demonstrate a true understanding of the complex ideals held
by multicultural markets. While many live well above the poverty line,
there is general empathy for people in hard-core urban communities.
Communication efforts must reflect a sophisticated comprehension of
the social and economic conditions these markets face. Healthcare, violence,
addictions and public safety are all issues that should be weighted
in how the lower-economic strata of these markets survive and thrive.
To achieve all the aforementioned goals, Crossover utilizes
the Crossover Factor®; a proprietary method of bridging the gap
between a company and its multicultural target audience to develop relationships,
sales and real market share. This one-of-kind methodology affords clients
opportunities to increase market penetration by drawing new consumers
from competitors' as well as reaching untapped, under-explored, emerging
segments of the marketplace.
The approach is particularly sensitive to urban culture.
And so is Mr. Climons. Recently Crossover Creative Group employed its
communications expertise to connect with an urban ethnic group and promote
a much-needed, life-saving message. When the client's budget ran short
of expectations, Mr. Climons went the extra mile to offer a charitable
contribution in the form of monetary resources to underwrite the development
and production of a series of television traffic safety public service
announcements for the California Highway Patrol.
Corporations that take advantage of this agency's exclusive
communication mode and passion create honest bonds, not only garner
attention and make an indelible impressions on the growing diverse consumer
groups with increasing purchasing power, these companies are bound to
realize positive affects to their corporate valuation, market share,
return on investment as well as many other key performance measures.
Crossover client, Michael Minasi, Sr. VP Marketing of
the major national multi-grocery chain Safeway, Inc. believes strongly
in their partnership: "I believe the creative work that has resulted
validates both the concept of Crossover and the process of good communication.
I look forward to continuing our work together."
An untold number of companies can benefit from the use
of the Crossover Factor®. Crossover Creative Group can assist corporations
in all of the major business categories to establish relationships with
the multicultural consumer by using proven methods that go beyond the
traditional monolithic concepts and ideals.
As Mr. Minasi puts it, "It's nice to be on the cutting
edge."
1Combined 2002 Purchasing Power figure of $1.522.8 trillion
is the result of adding the Asian-American: $296.4 Billion, Hispanics
$580.5 Billion and African-American $645.9 Billion as quoted by ©Diversity
Best Practices, Business Women's Network www.diversitybestpractices.com
u www.bwni.com http://www.ewowfacts.com/chapter03/32d.pdf. The United
Kingdom GNP of $1.360 Trillion for 2002 as stated in by Mike Dowling
in the "Interactive Table of World Nations" available from
http://www.mrdowling.com/800nations.html
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