Ethnic Technologies is pleased to announce the release of E-Tech Version 8.1

E-Tech January Press Release
January 31, 2013
by Karen Sinisi karens@ethnictechnologies.com
South Hackensack, NJ The Global Leaders in Multicultural Marketing Research, Database Enhancements, Modeling and Analytics is pleased to announce the release of E-Tech Version 8.1. While our software is already the best, our team has been working hard incorporating even more of the most up to date multicultural demographic information. On a typical national database, you will see the following substantial increases in your ability to market to individuals of the following ethnicities, representing billions of dollars in market share:

Comparison of E-Tech 7 Series Software Data to E-Tech Version 8.1

Hispanics                                        + 7.5 % Increase
African Americans                          + 16.9 % Increase
East Asians                                    + 8.3 % Increase

E-Tech Name Research:

Leading name research has been a key strength of E-Tech for more than 30 years. E-Tech Version 8.1 now incorporates 7.39% more First Names and 8.20% more Last Names than E-Tech Version 8.0. For unique First Name analysis, E-Tech 8.1 now has over 109,000 entries. On your database, one of these names can count for a single identification or thousands. The E-Tech Last Name tables now have more than one million entries.

E-Tech is More Than a Name System:

E-Tech has always been more than a simple Name System. Ethnic Technologies proprietary Enhanced Neighborhood Analytics (ENA) uses granular, multi-sourced geographic information as well as other proprietary technologies to determine the ethnicity of what a simple Name System could only identify as multi-ethnic. When you are looking for that perfect target audience, “multi-ethnic” leaves you stranded like the generic “one size fits all” approach. For example, “Lee” is a multi-ethnic Last Name. E-Tech can identify a person named John Lee as Chinese, Korean, English or African American. This same technology is applied to more than 4,000 other shared Last Names in the E-Tech product.

The E-Tech Challenge Guarantee:

There is nothing we love more than to show people the powerful multicultural marketing capabilities of our product. Please contact us for a free analysis of your customer data and how we can help you reach the fastest growing, highest dollar value groups of people in the United States. 

Important Dates and a Peek at our Latest Newsletter

Check out our newest Newsletter on "MULTICULTURAL MAGIC: B2B GROWTH"

Entrepreneurship is important; it spurs innovation, employment and economic growth. It is estimated that immigrants/multiculturals, create businesses at 2-3 times the average rate. Some start as SOHO (small office, home office) and grow into larger businesses which can be categorized by SIC codes, with many employees and sizable sales volumes.

A study by Duke University, University of California, Berkeley, and Harvard University found that immigrants founded almost 52 % of Silicon Valley startups launched from 1995 to 2005. A quarter of the patents filed during the same period came from immigrants.

To read the rest of this Newsletter click here

Multicultural Market Insight

South Hackensack, NJ
July 6th, 2011
E-Tech July Newsletter
by Candace Kennedy candace@ethnictechnologies.com

Most U.S. banks, Financial Services and Insurance Businesses, unlike many media, retail and grocery companies, have avoided marketing their products and services specifically to the Multicultural consumers. This made sense since the majority of the 50+ million Hispanics and the 40+ million African Americans, the two largest of the groups, who live in the United States typically spend less than the average U.S. consumer on financial services but more on groceries, retail goods and media. Sidestepping the Multicultural market made sense to financial institutions, until now.

With economic recovery on a slow rebound, financial institutions could be missing out on a huge opportunity. By 2012, spending by Multicultural Consumers living in the United States will have risen to more than $2 Trillion a year, from around $1.5 Trillion, with financial services accounting for a substantial part of that increase. Industries that currently cater to the Multicultural markets benefit conspicuously from the growing population. However, some industries such as housing, health care, and financial services that target middle and upper-income consumers are likely to benefit significantly as Multicultural consumers household incomes rise.
To succeed in this diverse market, banks and insurance companies will have to do more than translate their brochures into different languages. They could benefit from the lessons learned by other consumer product marketers. In courting the Multicultural consumer, financial-services companies must not only attract a new customer segment but also change its buying behavior. Financial institutions will have to educate these consumers about such products as mortgages, investments and insurance. Companies can implement techniques such as using multicultural faces in your campaign creative in order to increase the rapport between your organization and your audience or adjusting color preferences and graphic presentation forms to increase the effectiveness of your website presentation. To achieve a competitive edge in campaigns, marketers must understand the cultural differences and lifestyle characteristics of Hispanic versus Asian versus African, etc.
The incomes and assimilation levels of Multicultural consumers vary widely. Banks should offer a choice of products at every rung of the ladder: from inexpensive services like international wire transfers and check cashing targeted at recent immigrants, to mortgages and insurance products geared toward the emerging middle class, to the full portfolio of financial services for second- and third-generation Multicultural consumers.
Clustering all Multicultural consumers in one large category is not the proper approach since many different groups compose that market. Nonetheless, there are trends that can be highlighted. For example, purchase decisions among many Hispanics are driven by familiarity or lack of familiarity with brands. The bulk of Hispanic consumers, particularly those who are Spanish dominant buy products and services that they recognize and know something about. Marketing to the Hispanic consumer has at its core the establishment of a relationship between the seller and the buyer. Hispanics are particularly sensitive to the establishment and maintenance of that relationship.
The Hispanic consumer is generally more sensitive to offers that are acceptable to family and friends as a good decision. We see both individual and external attributes that drive the decisions differently within this segment. Product and offer attributes such as price and availability and perceptual attributes such as quality, benefits, and cultural sensitivity are obviously key drivers in the purchase decision. After all, businesses cannot reap the rewards from this segment unless they understand and target it.

SAVE THE DATES!!!!

Ethnic Technologies, LLC will be exhibiting at the Bridge Conference in Washington DC July 20th till July 22nd.
The DMA National Trade show in Boston MA October 2nd till October 5th..
Visit our booths and learn more about our New Release E-Tech Version 8.0 due out late Fall 2011 and our other Multicultural Marketing products and services.

Get an additional 10% off of any African American, Asian or Hispanic Financial Related Lists!
Mention the special code: 74AAH

May 2011 Newsletter: A Growing Multicultural Market

South Hackensack, NJ
May 12th, 2011
E-Tech May Newsletter
by Candace Kennedy candace@ethnictechnologies.com

In 2010, The Census counted 50.4 Million Hispanics, 38.9 Million African Americans and 14.6 Million Asians living in the USA. If anything, numbers like this should get your attention and entice you as a marketer to start building a brand loyalty among these high growth segments of our population. These estimated population numbers should be used as a reference or starting point for any successful direct marketing campaign targeted towards these consumers. Remember the numbers here reflect the estimated total populations for each group and for any direct campaign your target market with be much lower. The use of highly actionable data, utilizing intelligent research and market analytics down to the granular levels of Ethnicity, Language Preference, Religion, Assimilation and Gender helps guide any successful multicultural initiative. Adding key intelligence about your consumers, both current and potential, is the main ingredient for growth.

Conventional wisdom in today’s multicultural climate says that America is a melting pot of many different races, cultures, religions and beliefs. Try mixing up ten different cheeses in a pot then try to find the different taste values of each. It is very difficult to do. The same idea applies to identifying the different races, cultures and religions that make up our nation. The segmentation system that we habitually use simply divides the population into color or racial categories: White, Black, Hispanic, and Asian. A better approach is to see the diversity in America as a mixed salad, where each ethnicity is a different ingredient and can be identified. This method, if used properly applies to the many ethnicities and different cultures in our nation and each can be identified.

Marketers, researchers, advertising agencies and the media often market to Hispanics as a separate group from Whites, Blacks and Asians. When you take an in-depth look at the Hispanic population in the United States they often associate with one or more of the aforementioned racial groups and those racial groups can be correlated to their country of origin or cultural identity. An individual or family from Puerto Rico does not exhibit the same cultural identity or buying habits as those of a family that has immigrated to the US from Mexico. If that is the cases then why do marketers, researchers, advertising agencies and the media often approach Hispanics as a whole with the same exact offers, disregard their country of origin and then complain that their campaigns were not successful? Even the dialect of the Spanish language they speak differs.

The same issues arise and in greater depth when attempting to target the Asian community, the "One Size Fits All" mentality is often the method used and low response rates and product interests are the norm. With so many different Asian countries of origin and Asian languages of preference currently residing in the US, it is the smart marketer that embraces technology that allows them to identify all ethnicities, countries of origin and languages that are available. An offer tailored to a Chinese American living in San Francisco, CA should differentiate from one being tailored to a Korean American living in Fort Lee, NJ or a Vietnamese American living in Houston, TX. Now if you add into the mix the different levels of Assimilation and Acculturation, the buying habits and traditional cultural customs the individual embraces are all over the chart.

Many ethnic and religious groups in the United States maintain a strong cultural identity. They are often attracted to communities with their same ethnicity, communities in which many traditional cultural customs are maintained. Given that the ethnic diversity in the US is far more reflective of a global landscape, it is even more important for marketers to fully understand cultural differences, language preference, purchasing habits and other socioeconomic information and integrate those variations into their everyday marketing strategies and tactics. The time for the “One Size Fits All” methodology is gone, embrace the fast growing multicultural segments within our population and build your brand loyalty now and into the future.

Schedule a meeting with your E-Tech sales representative during the All for One Marketing Summit 2011 presented by DM Days. Stop by and visit us at booth #1100.

Black History Month 2011

South Hackensack, NJ
January 21, 2011
E-Tech Black History Month Newsletter

New Achievements in Black History

With the celebration of Martin Luther King’s 82nd birthday on Monday January 17th and the coming to the end of the second year of office for our first black president E-Tech would like to honor all those who contributed to African American History achievements. The 2009 inauguration of Barack Obama as president of the United States marked a defining moment in both American and World history. This historic event was another step toward Martin Luther King’s dream of a more equitable society. Throughout Black History Month we remember how Black American leaders of all kinds helped to bring our Nation together.

A History of Black History
In February, the nation joins Black Americans in celebrating their rich culture, heritage, and contributions to the American lifestyle during Black History Month. Black History Month began as “Negro History Week” in 1926 which was established by Carter G. Woodson and was expanded to a month long celebration in 1976. Woodson is said to have chosen the second week in February for the celebration to honor the birthdays of Frederick Douglass, an abolitionist and editor, and Abraham Lincoln.

The scope to which Blacks have contributed to American life can be witnessed at even the most fundamental levels: Garrett Morgan invented the first Traffic Signal (1923); Lewis Latimer invented the Carbon Filament used in Light Bulbs (1882); Richard Spikes invented the Automatic Gear Shift (1932) and Lydia O. Newman invented the Hair Brush (1898). Today, Black Americans are still achieving firsts in politics, education and business: Condoleezza Rice was the first Black Woman to serve as US Secretary of State; President Barack Obama was the first Black President of the Harvard Law Review and was the first Black to run for the Democratic Party's Presidential Candidacy; and Robert Johnson, owner of Black Entertainment Television, became the first Black Billionaire in 2001.

The Black Consumer Market
There are 40 million black Americans and comprise 12.3 percent of the U.S. population down from 14.8 percent of the population in 2000. African Americans became the nation’s second-largest minority group in the first decade of the 21st century.

The Black population is younger than the rest of the U.S population. In 2010 the median age of the Black population was 41 compared to the general U.S. population at nearly 45. In addition, females represent a greater percentage of the Black population in the United States. While the Black American median household income is lower than the U.S. average, the percentage of Black American households with an income of $50,000.00 or more grew 13.5% between 2003 and 2010, compared with 8.4% for the total U.S. households.

According to the University of Georgia’s Selig Center for Economic Growth, the buying power of Black Americans was $895 Billion in 2010 and estimates the buying power in 2012 to reach $1.1 trillion. In that same year, the US Census Bureau estimated the number of Black residents at 40.7 million, comprising 13.5% of the total US population. The number of Black-owned businesses was 1.8 million in 2009, a 58% increase since 1997 and Black businesses generated revenues of $92.7 Billion that year. Black Americans are also gaining ground in education. In 2009, 18% of Black Americans held Bachelor Degrees and 1.7 million held advanced degrees (Master’s, J.D., M.D. PhD).

As this group becomes more educated and their median household income increases, they will have greater control of the consumer marketplace. Black Americans are attracted to companies that represent their lifestyle with targeted messages and images. It is the responsibility of marketers to attract and maintain a relationship with the Black consumer.

“Black folk are not just dark-skinned white people. Marketers who consciously establish a relationship with this lucrative yet underserved market, by better understanding the African-American culture, mindset, attitude, behavior and lifestyle, will reap significant long-term rewards from a loyal, influential, increasingly affluent customer base.”
-Herbert Kemp, Founder & CEO of What is Black about IT? LLC

TIDBITS

LOCATION
More than half of black Americans live in the South.

New York had the largest black population of any state as of July 1, 2010 (3.6 million); Georgia had the largest numeric increase since July 1, 2007 (67,500). The District of Columbia had the highest percentage of blacks (56 percent), followed by Mississippi (38 percent).

Cook County, III. (Chicago’s county) had the largest black population of any county (1.4 million), and Orleans Parish, La. (New Orleans’ county) had the largest numeric increase since July 1, 2007 (16,000). Claiborne County, Miss.—on the Louisiana border—had the highest percentage of blacks in the nation (84 percent).

Seventy-seven counties were majority-black or African-American; all were in the South.

More than half of black American (53 percent) rent their homes—that’s the largest percentage of renters among the races in the U.S.

GENDER
There are more women than men.

Households: Nearly one out of every three black households (29 percent) are headed by a single woman, the highest percentage of female-headed households in the U.S.

MARRIAGE
Nearly half have never married, the highest percentage for all racial groups. Only 30 percent of blacks are now married.

MONEY
The annual median income of black households in 2009 was is $34,218, a decline of 2.8 percent (in 2009 constant dollars) from 2008. It’s the lowest in the United States.

Black median family income was just over $41,000 in 2009, the lowest in the United States of any racial group. A single black woman with children earned a median annual income of $25,958.

No surprise then that one out of five black families lives in poverty. More than 40 percent of black families headed by a single mom are poor.

IMMIGRANTS
Only 3 million African Americans are immigrants. Of that number, nearly two-thirds were born in Latin America, the other one-third of the immigrants were born in Africa.

Only 7 percent of us speak a language other than English.

MILITARY
Number of black military veterans in the United States in 2009: 2.3 million. More military veterans are black than any other minority group