Growth depends on marketing to multicultural audiences

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Although the federal government may be prepared to force its sale or ban it entirely, TikTok isn't dead yet. It's still the app that roughly 170 million Americans click to enjoy, rage about, and learn (or misinformation, depending on the poster) every day. TikTok continues to create trends with its quirky songs and silly dance moves. Trending videos are shaping the conversation. Additionally, over 500,000 merchants are using this short video app to sell their products.

Offline, things are a little different in the app. On behalf of parent company ByteDance, a top First Amendment law firm is reportedly recruiting creators to sue the U.S. government over the law President Joe Biden signed last week. forbes Senior writer Alexandra Levine wrote: Meanwhile, ByteDance denied reports that it was considering the option of selling apps without sophisticated proprietary recommendation algorithms.and forbes Senior writer Emily Baker White reported that she has learned that more than 30 Chinese TikTok employees are undergoing additional questioning at the U.S. border.

For creators and marketers, Many people remain committed to TikTok, hoping to take advantage of the platform, audience, and money-making opportunities while it is still active.,write forbes Contributor Katie Sarsius. Creator Kusha Nouri told Sarsius that TikTok will make a lot of money between now and when it finally goes offline in about nine months. Statistics from TikTok's promotional page show that 3 in 4 TikTok users are more likely to purchase something when using the app, and 83% say the app influences their purchasing decisions. doing.

There's no doubt that TikTok will continue to be a vibrant online hub until its (probably) demise. And it makes sense for marketers to continue focusing on the leads and sales that apps can bring in for now. But contingency plans for the next big promotion engine need to be fleshed out and leveraged. TikTok can also be used to drive customers to the next online social platform that captures user attention and engagement. While TikTok seems to occupy a central and irreplaceable place in today's social discourse, the same was once true of social networks such as MySpace and Twitter.. Geopolitics, technological challenges, regime change, or rampant disinformation have forced users and marketers to migrate to other platforms.

No matter the platform, Brands should target outreach to multicultural audiences. Sheila Marmon, founder and CEO of Mirror Digital, said these viewers have $5.6 trillion in purchasing power and are the largest growth segment in the United States. Marmon's business is focused on connecting brands with these audiences in an authentic way. And I recently spoke to her about her strategy. You can read some of our interviews later in this newsletter.

Social media

After Elon Musk took over Twitter in 2022 and quickly fired much of the content management team, many feared the platform's increasing potential to become a megaphone for disinformation. Musk's answer is a feature called Community Notes, which allows volunteer contributors to annotate posts to add context or correct misinformation. Also, the community he notes may not be as strong as a full-time moderation team, but Japan Automobile Manufacturers Association found Community Notes accurately corrects COVID-19 vaccine misinformation 97% of the time From December 2022 to December 2023, 45,783 memos mentioned vaccine or coronavirus-related terms, 657 were specific to COVID-19 vaccines, and many were about side effects. , efficacy, and conspiracy theories. Studies have shown that accurate corrections to these posts have been viewed between 500 million and 1 billion times.

Across the Atlantic, EU plans to investigate disinformation on Meta's Facebook and Instagram platforms. The European Commission said it believes Meta breached the Digital Services Act by failing to put safeguards in place to combat deceptive advertising, disinformation campaigns and “systematic fraud”. Ta. The investigation focuses on a network of pro-Russian “doppelgängers” that spread content favorable to Russian President Vladimir Putin, a person familiar with the investigation told Bloomberg. The EC is particularly concerned about the impact of disinformation on elections, with European Parliament President Roberta Mezzola telling Reuters there will be a large amount of disinformation on social media when EU member states vote for a new parliament next month. He said he expected that.

current trends

Americans haven't touched that dial. New Nielsen research on listening habits shows: Adults listen to radio more than podcasts, music streaming, or satellite radio. Traditionally, two-thirds of his viewing of ad-supported content is radio broadcasts, and people over 35 spend his 74% of viewing time on radio. Although the age group 18 to 34 listens to radio less, accounting for only 45% of total listening time, radio still accounts for the largest portion of listening time. Of course, most of your radio consumption occurs while driving. Research has shown that around 80% of listening in cars is from the radio.

Brand + Message

Star-studded new conglomerate uniting AI, music, marketing, personalized messaging and media launched last week. Founded by media veterans Jarrett Meyer and Rich Antoniello and recording artist will.i.am, Uproxx Studios focuses on brand messaging, content creation, and publishing for the music superfan community. It says that it is a new company. forbes Posted by Ime Ekpo. The conglomerate was created through the strategic acquisition of Uproxx, HipHopDX, Dime Magazine, and other media assets from Warner Music Group. This includes WMG's license for media sales on his YouTube inventory and integrates will.i.am's FYI AI technology and FYI Radio. The new conglomerate also features new AI StoryLabs, a unit that uses advanced conversational AI for brand communications. Even without someone as powerful as Myer founding his Uproxx and Antoniello founding Complex Networks to lead this venture, the amount of content the company commands is vast. Across all of its channels, Uproxx Studios reaches more than 170 million U.S. visitors each month and receives more than 12 billion video views per month.

About messages

Mirror Digital's Sheila Marmon speaks honestly to a multicultural audience

Over the past decade, racial social justice movements have shifted cultural norms, perceptions, and messages about race and culture. Sheila Marmon, founder and CEO of Mirror Digital, likens multicultural Americans to the entire United States and the world's third-largest economy after China. She said multicultural people control $5.6 trillion in purchasing power and are the fastest growing demographic, and marketers need to do a better job of crafting their products to speak to them. They say they need a message that reflects their needs. I spoke to Marmon about effective strategies for speaking to multicultural consumers. This interview has been edited for length, clarity, and continuity.

How can CMOs check their messaging strategy to ensure they are delivering the right messages to multicultural audiences?

Marmon: CMOs, we want to remind you that multicultural media partners and multicultural marketing have been around for a while. [George Floyd’s murder by police officers brought diversity more into the spotlight in] 2020. Many people jumped in for this opportunity, and some, myself included, have dedicated their lives to this practice. These are people who care deeply about these communities and have deep and specific expertise relevant to the different communities we work with. I think that's number one. I heard an anecdote about a brand trying to reach people who: [historically Black colleges and universities]And they hired a company that wasn't run by people of color, and no one on their staff attended an HBCU. But they thought he was hot at HBCUs, so they all say he's doing HBCUs. That doesn't make sense. Many of the decision makers don't look like me, nor do they look like a multicultural audience. They need to be mindful of bringing the right expertise to the table. And there's no way the same people that they've worked with all this time are going to look at the market opportunity and say, “Oh, I can do multicultural, too.''

What are some other common pitfalls you see brands and marketers making mistakes while trying to do better in this community?

You need to choose a partner with a proven track record and people who have not only learning experience but also real experience. Multicultural cultures change rapidly, so this combination is truly a win-win. Engaging your community and having real, relevant conversations will resonate with your audience. You need a Sherpa to get there.

There is a significant lack of investment in this growing audience, a multicultural audience. This equates to her 40% of the US population and just over 2% of his advertising spending. That's 40% of the population, 25% of all dollars spent, and 2% of advertising spending.

The challenge is difficult. Some organizations haven't built this muscle, they don't have the people on their team, and they don't know who to call. So you're still doing what you've always done, but you're missing out on this huge opportunity to transition your business.

What do you think marketing for multicultural communities will look like in the next five years?

I think we need to be very careful about being inclusive. It often starts at the top of big brands. When you have leadership that truly walks the talk, it's when you start to see systemic change within your organization, and they provide evidence that can help other brands have the courage to start this journey. has. Changing processes is difficult, and always will be.

And many people don't want to get it wrong. As a community, it's always a good headline to call someone out and say, “Oh, they totally missed it.” They seem so crazy. 'But we have to change that way of thinking. You need to bring people in and really see this as a learning opportunity so people can help your brand be better next time.

facts and comments

Chinese online retailer Temu has extended the type of censorship mandated in its home country to the United States. Platform does not return search results for election-related terms Despite selling hundreds of related products, such as “Trump”, “Biden”, “MAGA”, “President”, etc. forbes magazine Cyrus Faribar writes:

For more than 1,000: Number of products that appear when searching for “Trump” or “Biden” on Walmart's website

20 million: Average monthly Temu users in the US in Q1, according to Sensor Tower

“Tem appears to be trying to preemptively avoid embarrassment and bad PR”: Marketplace Pulse CEO Juozas Kaziukėnas said:

Strategy + Advice

Productivity is an essential element of success at work. Here are some ways to leverage technology to improve your results.

Although it's always a good idea to re-evaluate your processes and make changes if necessary, Change can be difficult for organizations. Here are some common myths about change and how to successfully implement new ideas and policies.

video

quiz

Saturday will be the 150th running in the Kentucky Derby., 150,000 spectators are expected to watch the race live at Churchill Downs. How much mint do you expect the venue's culinary team to use to make the Mint His Julep, Race's signature cocktail?

A. 150 pounds

B. 700 pounds

C. 1,000 pounds

D. 1,500 pounds

Please check if your answer is correct here.