What does it mean to be a minority-owned business? Simply put, it means that at least 51% of a business is managed by minority groups. According to the 2019 Annual Business Survey, about 1 million (or 18.3%) of all businesses in the U.S. are minority owned. Furthermore, about 1.1 million (or 19.9%) of business owners are women. While it’s great to see so many minority-owned businesses, they’re still clearly, well, the minority.

But there is a shift in how much customers prioritize minority-owned businesses. For example, the search for “black-owned businesses” increased by a whopping 7,043% on Yelp in the past year. Customers want to do business with minority-owned businesses more and more. So, what marketing strategies can companies implement to put themselves out there more? Let’s take a look at some steps minority-owned businesses can take to optimize their marketing campaigns and how we at Giovatto will help.

Create an Effective Website

Before you drive traffic to your website, make sure it’s ready for customers to check out (no pun intended). Create a site that is secure, organized, fully-functional, and grammatically correct in order to establish credibility. Make sure to also use aesthetically pleasing images and videos to grab and maintain attention. Go ahead and be loud and proud about being a minority-owned company & what your mission entails, as that’s part of your brand and why customers want to give you business.

Connect with Customers on Social Media

It’s no secret that social media is one of the key factors of running a successful business. It’s not just a tool for reaching your target market, but for interacting with a broader audience as well. In addition to expanding your reach and engagement with customers, it drives traffic to your site by giving customers a glimpse at what products and services you offer. It also has the power to motivate your audience to sign up for your email list. Try to focus on all your platforms, but especially on the one that provides the most visibility. Keep in mind that Instagram and Facebook are especially helpful because they allow you to customize your targeting preferences based on audience demographics. Remember to advertise your minority-owned status with images and videos that represent who is managing your company.

Identify Your Target Audience

As it is with any business, it’s important to know exactly who your ads are reaching. In the case of a minority-owned business, this step is extra important. Your company likely provides a unique product or service to your own minority group(s) that will set your brand apart from the competition. This pulls like-minded customers towards your brand because it feels personal for them. Since your brand is bound to be geared towards specific demographics (a certain minority group, age bracket, socioeconomic status, etc.) it’s important to take that into account and target ads accordingly. Your ads will likely hit broader audiences as well, but your marketing campaign needs to be based around which audience is likely to give you business. Consider which demographics you want to hit, then research which advertising channels will produce optimal results for reaching that audience.

Tell Your Story

Once you’ve gained a following on social media or your email list has grown, feel free to give details about your brand & what it stands for. What inspired you to start your business? Why does your brand matter to you and your customers? Maybe even conduct interviews with employees about what your company supports, if you feel your team is large enough. Being a minority-owned business is part of what makes your business unique & why customers give you business. So after you’ve gained some momentum on your advertising channels, don’t be afraid to dive a little deeper and describe what makes your company unlike any other.

Partner Up with Others

If your company can be a vendor for another company or vice versa, this will help promote yourself as well as another company. This spreads wealth across two companies at once, making it an easy win-win for both parties. What’s even better is teaming up with another minority-owned company, because this promotes more diversity and more minority stories than just your own.

How We’ll Help

It’s always been important to support diversity and minority-owned businesses. But due to the COVID-19 pandemic, the number of active Latinx business owners fell by 32% between February and April of 2020. Within that same span of time, the number of active African American business owners fell by 41%. White business owners suffered too, with a 17% decrease in active owners, but the statistical difference between the minority and the majority is no coincidence, and it shouldn’t be ignored.

The Giovatto Agency works with businesses of all sizes and backgrounds. If you’re running a minority-owned business (or want to support your local minority-owned business), contact the Giovatto Agency today and we’ll analyze your strengths, develop a marketing plan, and keep sales coming for years to come. We’ll consider your community and work our target advertising magic to create a media mix designed for attracting customers with social, display, TV, radio ads, and more. Contact us today for a free consultation!