The Bay Area is home to an incredibly diverse population. Ten years ago, the 2010 census revealed that more than half of all people who live in the region represent diverse cultural groups. For example, Hispanics represented 23.8% of the population, Asians came in at 23.9%, and African Americans made up 6.7%.
When selling products or services, one of the best ways to learn how to develop a strong marketing campaign and maximize sales is to understand the buyer's journey. This journey is essentially a kind of framework that follows the customer's progression from a curious visitor on your site to an eager buyer by researching problems and solutions until they decide to buy.
The buying power of multicultural groups is increasing, which means it's important to consider them when developing your marketing strategy. As of 2019, the buying power of multicultural groups made up a considerable share of the American economy, with Latinx communities accounting for $1.7 trillion, Asian Americans with $1.2 trillion, and Black Americans with $1.4 trillion. Those numbers have only increased.
From thinking about a product or service, to potentially buying something in the future, to ultimately making a purchase can take time... It might take weeks, months, or even longer to consider an upgrade, what new features are available, researching reviews, and comparing products and prices before consumers actually complete a purchase. Consumers go through this process every time they make a purchase, and understanding where they are in the buyer's journey can help marketers to better understand their customers and how to speak to them at each stage.