m ulticultural marketing program
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M ulticultural Marketing Program. Pablo Wong Senior Vice President Market Development. Agenda. 1. The Multicultural Markets 2. Our Program Key Services Seminars Educational/Marketing Materials Best trained EO and staff. - PowerPoint PPT PresentationTRANSCRIPT
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Multicultural Marketing Program
Pablo WongSenior Vice PresidentMarket Development
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Agenda
1. The Multicultural Markets
2. Our Program Key Services
• Seminars• Educational/Marketing Materials• Best trained EO and staff
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What It Means to Us
“Diversity is the power to identify and deliver value to all employees, customers and communities that we serve. We are committed to recognizing and embracing the influence of culture on every individual.”
“All Together We Make A Difference”
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Why Should YOU Focus on These Markets?
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Population California
U.S. 300 million 36 Million
Hispanic 44 million 13 million
Asian 13. 1 million 4.7 million
Demographics
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0
100,000
200,000
300,000
400,000
500,000
Santa Clara Alameda Contra Costa San Francisco San Mateo Sonoma Solano Marin Napa Monterey
Popu
latio
n in
num
bers
Greater Bay Area California - Counties
Greater Bay Area 2005 Population Data (By Race & Ethnicity By Counties)
White Asian and Pacific Islander Hispanic or Latino (of any race)
Black or African American Others Two or more races
County Santa Clara Alameda Contra Costa San Francisco San Mateo Sonoma Solano Marin Napa Monterey TotalWhite 465,777 352,864 397,194 283,329 256,457 250,138 119,910 167,484 65,484 51,842 2,410,479Asian and Pacific Islander 509,782 357,529 137,499 240,859 169,553 18,748 61,624 12,790 6,702 26,852 1,541,938Hispanic or Latino (of any race) 416,660 297,212 213,227 98,891 155,964 96,024 84,121 29,222 36,033 201,127 1,628,481Black or African American 42,307 188,655 93,820 46,779 20,188 6,208 57,482 4,540 1,655 9,691 471,325Others 187,558 163,978 124,252 29,656 63,510 50,838 54,044 14,553 13,803 87,298 789,490Two or more races 47,806 61,070 40,494 19,563 23,599 13,894 18,245 7,020 3,768 12,194 247,653
References: U.S. Census Bureau; American Factfinder
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The Hispanic Market
♦ 44 Million Hispanics in the U.S.♦ 10.7 Million Hispanic Households♦ In 2001 in California, 51% of all newborn
children were Hispanic
(Source: Current Population- U.S. Census October 2000)
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The Asian Pacific American Market
♦ 13.5 Million APA or 5% of total U.S.
♦ 11% of CA population and 20% of Bay Area
♦ Highest income per capita
♦ Homeownership rate is approximately 60%
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Percent of Total Population
Non-Hispanic
White67%
Hispanic15%
Asian5%
Non-Hispanic
Black13%
National Origin of Diversity♦ Mexican – oldest, newest, nearest, most dispersed, increasing diversity♦ Puerto Rican – dual nationality, citizenship, urban concentration♦ Central Americans – refugees, nationality pockets, proximity to Mexicans♦ Cuban – multiple waves, generational shifts♦ South American – Peruvians, Colombians, etc.♦ Others - New Mexico, Colorado, Texas, Arizona, Dominican enclaves
Other7%
Central & South
American8.9%
Cuban4.2%
Puerto Rican9.2%
Mexican70.7%
DemographicsPopulation by Race and Hispanic Origin
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1 9 %
2 2 %5 9 %
A s i a n sH i s p a n i c sO t h e r
(Source: U.S. Census)
Bay Area Population
1 9 %
2 2 %5 9 %
A s i a n sH i s p a n i c sO t h e r
(Source: U.S. Census)
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Vietnamese10%
Others11%
Korean10%
Japanese7%
Indian20%
Chinese23%
Filipino18%
• Sub-group distribution changed from 2000 to 2004• Asian Indian has grown to 2nd largest in sub markets• Chinese continues to be largest segment
Source: U.S. Census Bureau –2000: Issued February 2002
Asian American Population Composition
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10 Most Common Last Names of California Homebuyers (2000)
♦ Gonzalez♦ Garcia♦ Martinez♦ Hernandez♦ Smith
♦ Lopez♦ Rodriguez♦ Lee♦ Kim♦ Johnson
(Source: National Association of Hispanic Real Estate Professionals)
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10 Most Common Last Names of San Francisco Homebuyers (1999)
♦ Wong♦ Lee♦ Chan♦ Li♦ Chen
♦ Lau♦ Huang♦ Leung♦ Lin♦ Smith
Nine out of ten were Chinese
Source: DataQuick Information Services
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How can WE HELP YOU
♦ Education and training for real estate professionals
♦ Providing our community homeownership education in-language and in-culture.
♦ Best trained escrow teams that represent the community we serve
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XXXXXX TitleSpanish Brochure
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Training Seminars
♦ Insync- Title and Escrow for Hispanic and Asian customers
♦ The Filipino Homebuyer
♦ Title & Escrow for Domestic Partners
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Multicultural MarketingKey Programs Services
¨ Training Seminars on Hispanic & Asian Culture - In Sync Presentation (A workshop about understanding the Hispanic & Asian Culture) - Emerging Sunrise Presentation (A workshop about understanding the Asian Culture) - Empanadas Presentation ( A workshop about understanding the Hispanic Culture)
¨ Bilingual Marketing Materials for Home Buyers and Sellers in Spanish, Chinese, Vietnamese, Hindi and Punjabi. Korean and Russian versions in progress.
¨ Translated website Title.com in 5 languages (English, Spanish, Chinese, Vietnamese and Korean)
¨ Round table discussion with Realtors and lenders on how to increase sales and market share.
¨ Key Contacts with Ethnic Real Estate Associations. A glossary for translated phrases for realtors to use when they showing a house. Available in Spanish and Chinese.
¨ Coming up: Multicultural Holidays Calendar (this will comprise of a short explanation of the festival and date of the holiday).
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Cross-Selling Bilingual Materials
♦ IPX
♦ Home Warranty
♦ Short Sales
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My Contact Information
AgentTitle company
Cdfgh/@com
Arigato Gracias Thank you Xie Xie Salamat