An Inclusive Marketing Strategy? Do you have one?
Whether you are a franchiser or a franchisee you must have noticed that the marketing and sales landscape is changing.
Mauricio Velásquez, MBA
Did you know that the fastest growing segments of the U.S. population are Asian American, Latino/Hispanic, African American, and the over 55 populations? More than 80 percent of the U.S. population lives in urban settings. The Internet is only accelerating many of these market changes. You hear them called "emerging markets" or "ethnic communities" or "nontraditional customers" or "high growth target populations." Is your franchise ready to reach out to these
| Without a plan you have no direction and no chance of surviving the increasingly diverse and competitive free market forces. |
markets? Whether you are a business-to-business or a business-to-consumer franchiser or franchisee you must have noticed that the marketing and sales landscape is changing. Changes in your customer or client populations require changes in how you market, sell and deliver your services and related products. Do you see these changes as opportunities or as a challenge or a problem? The emerging field addressing these issues is the diversity or inclusive marketing field. New and diverse customers demand new and diverse service and product offerings and delivery. Status quo or traditional marketing, selling and customer retention is a sign of the past. Always doing the same will continue to get you the same results. Fundamental questions you must begin to ask.
 | Who do you target to solicit new franchise owners? |
| How, where, and who do you source for prospects? |
| How do you reach out to these new and emerging marketplaces? |
| Are your franchisees attracting and retaining the increasingly diverse consumers? |
| Or, are you continuing with your status quo sales and marketing management approach and ignoring a huge growing opportunity in your marketplace. |
| Are you competitors rushing into these new markets ahead of you and gaining a competitive advantage? |
| Do you have a plan to secure these new franchise prospects, customers and clients? Make no mistake about; this field is one of the hottest and fastest growing areas of the marketing and advertising world. If you still need clarification, turn on Telemundo, Univision, CNN Hispano or BET. Are you strategically positioned for the present and future high growth communities exploding in the United States now and for the foreseeable and not so foreseeable future? In a future article I will outline the steps necessary to develop your diversity or inclusive business strategy and plan. |
Without a plan you have no direction and no chance of surviving the increasingly diverse and competitive free market forces.
Mauricio Velásquez, president of the The Diversity Training Group, is presently working with the IFA staff on related issues. His firm works with dozens of the nation's top companies as clients across the United States.
NOVEMBER/DECEMBER 2000 FRANCHISING WORLD 45
