The Katalyst Group is creating a first-ever experience that people won’t be able to stop talking about.
In pursuit of its mission, the Cincinnati, Ohio-based brand strategy and marketing firm has formally released its new inclusive marketing diagnostic tool, the Cultural Competency Monitor (CCM). The first-ever single platform assesses both brand team and agency readiness for multicultural marketing.
The Katalyst Group sees the biggest opportunity for market growth as the “multicultural market,” evidenced by the increase in buying power of multiracial and multiethnic consumers.
“The multicultural market is highly nuanced and requires a thoughtful, effective approach the brands can apply. We developed the CCM to measure the efforts being made by brands in inclusive marketing and to assist companies with the enhancements that develop propositions that authentically connect and resonate with multicultural consumer cohorts,” said Sean Rugless, Katalyst group president, per the release.
What is the Cultural Competency Monitor?
According to Procter & Gamble, growing markets is the most important kind of growth. The CCM platform is geared to provide “insight into the level of multicultural proficiency found with brand teams and their agency partners to connect with.”
Marginalizing is a habit that needs to be broken to realize that multicultural marketing is, in fact, mainstream marketing. While working to avoid this disingenuous habit, the CCM also helps to connect brands with diverse consumer cohorts.
This comes with recognizing that advertisers seeking to unlock brand growth from multicultural consumers have made “missteps that erode brand reputation, conceded share to competitors, and reduced profitability,” according to the release. With that, “inaccurate portrayals of communities of color have been linked to negative social consequences experienced for this segment.”
Who uses this platform?
To drive brand and agency performance, Katalyst is building partnerships with brands, advertisers, and agencies in deploying the CCM. The components of the CCM in the form of work sessions and assessments have been utilized at companies such as Procter & Gamble, Publicis Groupe, Beam Suntory, and Kellogg’s North America.
Additionally, Kellogg’s was the first Consumer Packaged Goods company to adopt this platform. They have witnessed growth in annual brand performance across six brands and five agency partners. From increases in US Hispanic media spending and new investments in multicultural capabilities, the CCM has helped them hire diverse talent and introduce several new multicultural agencies to their marketing.
How does this tool help to close the brand market share gaps among multicultural consumers?
The CCM is instrumental in fostering new narratives and eliminating bias in the portrayals of communities of color. Inclusive marketing is the key.
Analyze brand development and creative development processes
Co-create action plans between brand teams and agencies
Integrating its measures into existing brand and agency performance reviews and metrics
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Source: Black Enterprise
