GroupM, owned by WPP, recently created the GroupM Multicultural Marketplace in the United States. The GroupM Multicultural Marketplace was created in order to increase the efforts related to diverse media advertising. As part of the initiative, the company created a 20-point system with five categories that will assess a publishes eligibility. Eligibility points include traffic and targeting, relevant content, recently produced content, privacy, ad rendering, as well as ownership.
The marketplace features approximately 300 Black and Hispanic-owned publishing organizations. Prospective advertisers can use the marketplace to showcase content that is created by those publishing organizations.
Susan Schiekofer, the chief digital investment officer for GroupM, released a statement about the new marketplace, "The current and future marketplace demands an accountable, accessible-now, and focused investment strategy that better balances efficiency, engagement and effectiveness in reaching the Black and Hispanic communities."
Multicultural Advertising Initiatives
GroupM Created a Multicultural Marketplace with Publishers
Trend Themes
1. Multicultural Advertising Marketplace - Creating a marketplace for multicultural advertising can increase accessibility and effectiveness in reaching diverse communities.
2. Publishing Diversity Assessment - Creating a points system to assess diversity eligibility of publishing organizations can improve accountability and encourage diverse media advertising.
3. Minority-focused Content Marketing - Showcasing content created by Black and Hispanic-owned publishing organizations can increase engagement and reach with diverse audiences.
Industry Implications
1. Advertising - Creating a marketplace for multicultural advertising can disrupt traditional advertising methods and unlock opportunities for reaching new audiences.
2. Digital Media - Developing a points system to assess diversity eligibility of publishing organizations can encourage representation and diversity in digital media publishing.
3. Publishing - Showcasing diverse content created by Black and Hispanic-owned publishing organizations can create new pathways for promoting minority-focused content.