Blogalicious Lesson #7: Marketing to Women of Color + Knowing Your Worth

Even though I missed the first day of Blogalicious, I was able to watch those sessions that I missed via Kenmore’s Youtube Channel (yeah Kenmore). I was told that I absolutely had to watch the session with keynote speaker Miriam Muley on Marketing to Woman of Color (video replay here) (the good stuff starts about 10 minutes in). She is the author of the 85% Niche; specializing in showcasing the buying power of Women of Color in America.

This particular session was interesting because Miriam really provided us with an inside look into why it’s important for marketers and brands to reach out to us, celebrate our diversity, and essentially improve their efforts of marketing to women of color in the same way they market to other bloggers and women in social media online. As an entrepreneur, this is an important session because you get a sense of what I’m always saying, “With respect to building your online presence and attracting new customers, you have to seriously focus on market research.” This point especially rings true for those of you who like me, enjoy working with other women of color. I see so many business savvy women entrepreneurs of color either use white images and marketing material to promote their business (for fear consumers won’t buy black) and/or struggle with how to build relationships with customers who are essentially just like them.

Point being many solopreneurs today are struggling with connecting with women of color consumers just as much as the big brands and marketers, which is why I believe that understanding social media is so key. As social media marketers, social network creators, and bloggers, through experience we learn how to build followings and relationships with other women of color in ways everybody else cannot and that my friends is why brands are so eager to work with bloggers. Those who understand the buying potential of women of color, understand how to speak their language with respect to their diverse niche markets and interests and work hard to tap into that power will truly be rewarded in the end.

I just wanted to share a few points that Miriam shared in her session, but definitely click the link above to watch the entire replay. Interesting points to remember:

We, Women of Color in America are 54 million strong, incredibly entrepreneurial and increasingly well educated.

9 out of 10 new females in the last decade were Latina, Black or Asian.

Corporate America invests heavily toward non-Hispanic white women 25-34. We are twice as large in population, but companies still are having a difficult time connecting with us.

The economic buying (spending) power of women of power if Women of Color is $1 trillion. Black Women make up $524 Billion of that trillion. The buying power of black women alone is larger than that of Latina and Asian women combined.

Today 56% of all women of color are single and the primary decision maker in their house holds.

42% of all majority owned businesses of color are owned by women of color.

The purchasing power of women ranges. We:
– Purchase 94% of all home furnishing products
– Responsible for 92% of all vacation decisions
– Account for 51% of consumer electronic sales
– 89% influence the decision to open a new bank account

For me these were some eye opening stats and really helped to shape my views and marketing strategies with respect to building new customers relationships for 2011. Knowing your worth as a woman of color as well as understanding our spending power as women of color IS BIG. In short, we all just need to get with the times. The face of America is changing and that means we need to make changes too.

For all 30 Blogalicious lessons learned, read my series of Blogalicious 2010 Adventures.