New Digital Platforms And Inclusive Content Enable Brands To Engage The $1.2 Trillion Asian-American Consumer Market Like Never Before

As the United States begins a path towards economic recovery, the $1.2 trillion Asian-American consumer market will play a critical role in its revitalization. For forward-looking companies and brands, the opportunity to reach the country’s fastest-growing and most affluent multicultural consumer group has never been more accessible, according to Nielsen’s newly published Diverse Intelligence Series consumer report, Engaging Asian-American Consumers at the Dawn of a New Decade. The emergence of streaming services, the growth of Asian American-led content, and the exponential rise of esports have created all-new ways to cultivate affinity with this digitally-influential and tech-savvy community.

3 Key Ideas Before Implementing ABM

For years, the stats on Asian-American consumers have captivated marketers. With a buying power projected to reach $1.6 trillion by 2024, the average Asian-American household income ($94,889) is 41% higher than the national average. As a result, Asian-American households spend more annually in several key categories including housing (+24%), food (+29%), education (+128%), apparel (+67%), and new cars (+$37%). Historically, the complex diversity of the community and the lack of wide-reaching pan-Asian media have created barriers for U.S. brands. However, the mass adoption of new digital platforms and the popularity of inclusive content have helped attract and galvanize a national Asian-American audience.

Key insights featured in the report include:

  • Asian Americans are more likely to be cord-cutters
    • Asian Americans are cutting the cord at a rate that is almost twice that of the total population and is relying more on broadband-only
    • Accessing live television through internet-based services like Sling TV, Hulu + Live TV, YouTube TV and AT&T TV Now
    • Engaging more on TV-connected devices that require an internet connection (i.e. Apple TV, Amazon Fire, and Roku) at 49% versus 44% of the total U.S. population
  • Asian Americans are finding more Asian American-led content on streaming platforms
    • 82% of Asian Americans subscribe to at least one streaming service compared to 72% of the total population
    • Popular Netflix content among Asian Americans includes comedy specials featuring Ronny ChiengJo Koy, and Ken Jeong, and series with Asian American leads including Ugly DeliciousWu Assassins, and Patriot Act.
    • The top episodic Netflix series in 2019 among Asian Americans also reflect a diverse lead cast, such as V Wars, Lost in Space and I Am Not Okay With This.
  • Asian Americans are big players in the gaming industry
    • Asian Americans are 14% more likely to own a gaming console and 37% more likely to own Virtual Reality (VR) headsets that are mainly used for gaming
    • Asian American gamers are younger with 69% of Asian American gamers falling between ages 13-34 versus only 44% of U.S. gamers
    • Asian Americans are leading the shift to online and mobile gaming as they are 84% more likely to play multi-player online games
    • Among Asian-American gamers, over 1 in 4 say they watched an esports tournament live stream in the last three months, and 53% of Asian gamers say they have watched 3 hours or more of esports in a typical week
  • Asian Americans are going beyond live TV to get their news
    • During the first three weeks in March, time spent watching the news grew by 27% for Asian Americans versus 15% for Non-Hispanic Whites
    • Relying on digital platforms to access news content; over-indexing the total population for all types of news (i.e. political, sports, tech, business/financial)
    • 15% more likely to use social media for their news versus the total population

Account-Based Marketing should be Enriched with Predictive Insights

“The Asian American community is at an inflection point, which has created a ripe opportunity for marketers to drive business growth,” stated Mariko Carpenter, Nielsen’s Vice President of Strategic Community Alliances. “Brands hoping to engage with Asian Americans must understand the critical importance of inclusive media representation and the ways Asian Americans are integrating technology for media consumption. Understanding how these forces intersect and intermingle will be the key to unlocking the potential of this market.”

Madrivo Launches Adforia, an Internal Social Media Acquisition Channel

Las Vegas-based performance marketing agency Madrivo Media LLC has earned national recognition for its marketing solutions and has connected millions of customers with companies around the world.

Customer Lifetime Value (CLV): Driving E-Commerce Marketing Success

Madrivo is committed to providing its clients with those marketing channels and tools which allow them to find new customers in the most thoughtful and cost-effective way possible.

As part of that commitment, Madrivo is proud to announce it has partnered with Michael Walker, to lead its internal social media advertising program through Adforia LLC. Michael has a long and successful track record of optimizing social media advertising for brands’ customer acquisition strategies. Specifically, in 2019 Michael was able to provide over 382,000 interested and high converting potential customers to his clients by effectively buying quality media on various social platforms. Together, Madrivo and Michael have created Adforia to focus on social media advertising and will specifically focus on customer acquisition strategies, supporting Madrivo’s focus on finding the best customers for its clients in the most cost-effective way.

How to Use Big Data in Sales and Marketing

“We’re very excited to expand our suite of offerings to our clients through the partnership with Michael and our creation of Adforia,” said Ronen Hamatian, CEO of Madrivo. “Madrivo’s goal is to help our clients find newly engaged customers with high lifetime value, via the most effective channels online.”