First, it was Pepsi, then Shea Moisture who’s going to be next? Who is going to venture into the space where they are marketing either to get the black dollar or expand the black dollar, without ever getting input from black marketers?
We have been talking for years about the lack of diversity at the table. But it didn’t matter too much of big business because the black community was not organized or powerful enough to move money with a simple product boycott. But things have changed. With things like the BLM movement, Shaun King’s efforts, the WeBuyBlack movement and the hilarious, unrelenting force of Black twitter the ability to organize has shifted.
According to Nielsen, black buying power has reached the tipping point. Last year the black dollar accounted for about $12 trillion in consumer spending. That would make Black America the 15 largest economies in the world according to World Bank data. For reference; that is comparable to the entire economy of Mexico.
So if mainstream business is smart, they will continue to try to reach Black America. But laying a trap beat behind your commercial is not going to do it. Black people, just like any other demographic are diverse in our interests, culture, and traditions. We are not all excited by or offended by the same things. But (for the most part) if you offend the majority, you offend us all, and we will stick together.
So as marketers how do you include this very big spending base into your marketing efforts without going all “Pepsi”?