Marketing to Affluent African Americans: A New Book on the Black and Wealthy

Marketing companies usually segment their target audience into various categories. The categorizations may be according to race, age, income, education, gender and a host of other factors. One thing that is not always taken into account is that not everyone of the same race has the same preferences. African Americans may all be black, but they too vary in terms of income levels, education and a host of other factors that make us all different.

A new book has been written to try to address that point. "Black is the New Green: Marketing to Affluent African Americans," is a book written by Uptown Media Group CEO Leonard E. Burnett Jr. and marketing consultant Andrea Hoffman. In their book the authors make the point that affluent African Americans are often ignored by advertising companies because companies mix these groups in with other segments of the black community. They argue that Affluent African Americans (also known as AAAs) can be sorted by age, income and cultural tastes. AAAs are often confused with the urban hip hop crowd, where black pop stars and athletes are used for marketing. Burnett and Hoffman explain that the AAA segment is strong and growing, with buying power estimated at $87 billion dollars per year.

The authors recommend that the best way to market to the AAA is to partner with philanthropic organizations that serve the African American community. The partnership between AETNA and 100 Black Men of America is given as a good example. These groups have joined forces to fight diabetes, childhood obesity and other issues that affect the black community, in addition to promoting the AETNA brand. Another option would be to partner with black greek letter organizations, who have access to millions of members of the affluent black community.

http://xml.channel.aol.com/xmlpublisher/fetch.v2.xml?option=expand_relative_urls&dataUrlNodes=uiConfig,feedConfig,entry&id=859312&pid=859311&uts=1269452519

http://cdn.channel.aol.com/cs_feed_v1_6/csfeedwrapper.swf

Black Women Handling Their Business

The Royal Court: 25 Black Women Handling Their Business
Make no mistake about it: Black women are handling their business -- not only in entertainment but also in the areas of sports, food, politics, fashion and philanthropy. In honor of true royalty, Blackvoices.com celebrates 25 notable females who have reigned supreme as queens of their respective industries. Take a look at The Royal Court: A Celebration of Sisters.

Various

BlackVoices.com

The Royal Court: 25 Black Women Handling Their Business

Name: Aretha Louise Franklin
Who Is She?: The undisputed queen of soul
Credentials: 20 Grammy Awards including the Living Legend Grammy and the Lifetime Achievement Grammy
Royally Speaking: It takes a lot of talent to become the first female to be inducted into the Rock and Roll Hall of Fame, but that's Aretha. At 67, the Detroit native has garnered 45 top 40 Billboard Hot 100 hits in her half-century long career. Franklin holds the record for best female R&B vocal performance awards, with 11 to her name. From 1968 until 1976, she was awarded eight consecutive Grammy awards in the category. In 1994, she became the youngest recipient of the Kennedy Center Honor. And the 'Respect' singer was the only featured singer that President Barack Obama asked to perform at his 2009 inauguration.

The Royal Court: 25 Black Women Handling Their Business

Name: Debra L. Lee
Who Is She?: President and chief executive officer of Black Entertainment Television
Credentials: The first African American woman to helm a cable television network
Royally Speaking: When BET founder Bob Johnson sold the first black owned television network to Viacom and left his post, Lee continued to make the channel profitable. Under her tenure, BET's production budget increased 50 percent and developing original content became a priority. The 58-year-old Harvard grad, who sits on the boards of Revlon, Marriott and Kodak, just launched a new channel under the BET umbrella called 'Centric.'

The Royal Court: 25 Black Women Handling Their Business

Name: Pamela Suzette Grier
Who Is She?: Actress
Credentials: First African American woman to star in an action film; Golden Globe, SAG and NAACP Image Award nominee for 'Jackie Brown'
Royally Speaking: Most of the actors and actresses of the 1970s blaxploitation era didn't have long careers. Grier was the exception, and there was only one Foxy Brown; the you-don't-want-none, bossy role that was the blueprint for black female heroism of the era.The North Carolina native's comeback role was as the title character in Quentin Tarantino's 'Jackie Brown.' Most recently, the 60-year-old starred on Showtime's drama 'The L Word.'

The Royal Court: 25 Black Women Handling Their Business

Name: Debra Martin Chase
Who Is She?: Hollywood producer
Credentials: Emmy Award-nominated producer of 'Rogers and Hammerstein's Cinderella,' producer of 'The Cheetah Girls' and 'The Princess Diaries'
Royally Speaking: This Columbia Pictures-lawyer-turned-producer ran Denzel Washington's production company in 1992 and produced blockbuster films such as 'The Pelican Brief,' 'Devil in a Blue Dress,' 'The Preacher's Wife' starring Whitney Houston and 'Courage Under Fire,' as well as the Academy Award-nominated documentary 'Hank Aaron: Chasing the Dream.' Under her Martin Chase Productions company, the 53-year-old Illinois native, who also produced the television show 'Missing' and 'The Sisterhood of the Traveling Pants,' is recognized as the only black woman with the power to get a film project off the ground in Hollywood.

The Royal Court: 25 Black Women Handling Their Business

Name: Serena Williams
Who Is She?: Tennis player, clothing line designer and spokesperson
Credentials: She's the reigning champion in women's singles and doubles at the Australian Open and Wimbledon.
Royally Speaking: After years of speculation about why Serena Williams wasn't the top player in the world, the Compton, Calif., native finally topped the list of the world's best tennis players. The 28-year-old, who has been a spokesperson for Nike and Tampax, has won more career prize money than any other female athlete in history. Since bursting on the pro scene at 17 with her sister Venus, she's taken home gold medals twice for women's doubles with her sister and made a name for herself with 25 Grand Slam titles, 12 single titles, 11 in women's doubles and two in mixed doubles. She and her sister are also part-owners of the Miami Dolphins.

The Royal Court: 25 Black Women Handling Their Business

Name: Diana Ross
Who Is She?: Motown's premier diva
Credentials: 100 million records sold (with the Supremes and as a solo artist), Academy Award nomination for best actress for 'Lady Sings the Blues,' Tony Award for 'An Evening with Diana Ross'
Royally Speaking: In her heyday, no one was badder than Diana Ross. The Detroit native, born Diane Earnestine Earle Ross, got her start in the '60s as the lead singer of the Supremes and launched a successful solo career with a re-arranged version of Ashford & Simpson's 'Ain't No Mountain High Enough.' All in all, the near 70-year-old singer/actress amassed 18 number-one singles and starred in films such as 'The Wiz,' 'Mahogany' and her Academy Award-nominated performance as Billie Holiday in 'Lady Sings the Blues.'

The Royal Court: 25 Black Women Handling Their Business

Name: Mariah Carey
Who Is She?: Singer, songwriter, actress and spokesperson
Credentials: Five-time Grammy Award winner
Royally Speaking: Where her career is concerned, Mariah Carey has definitely shaken off the haters and stood the test of time. The 39-year-old New York native remains the best-selling female artist of all time. She has the most number-one singles for a solo artist with 18 and has even shut down critics with her acclaimed performance in the Academy Award-nominated film 'Precious: Based on the Novel 'Push' by Sapphire.' Her comeback album, 'The Emancipation of Mimi,' marked her career resurgence and gave the five-octave singer the opportunity to evolve her brand with a fragrance line through Elizabeth Arden.

The Royal Court: 25 Black Women Handling Their Business

Name: Audra Ann McDonald
Who Is She?: Broadway star and thespian
Credentials: The sole black woman to win four Tony awards
Royally Speaking: The Great White Way is a tough place to maintain a presence, but that's not the case for Audra McDonald. The 39-year-old German-born actress won her first three Tony awards for 'Carousel,' 'Master Class' and 'Ragtime' all before the age of 28. McDonald currently stars opposite Taye Diggs in the ABC drama 'Private Practice.'

The Royal Court: 25 Black Women Handling Their Business

Name: Barbara Smith
Who Is She?: Groundbreaking fashion-model-turned-restaurateur and lifestyle expert
Credentials: This author of three books and owner of three restaurants has major partnerships with brands such as Bed, Bath and Beyond, Pillsbury, Colgate Palmolive, and La-Z Boy furniture.
Royally Speaking: The first African American woman to grace the cover of Mademoiselle, the Pennsylvania native went on to blaze trails in the restaurant industry – not only as an owner but as a doyenne of elegant entertaining. Smith, 60, has proven successful beyond cooking; she has a line of jewelry, home décor and an upcoming line of handbags.

The Royal Court: 25 Black Women Handling Their Business

To the surprise of some, the authors also recommend print media advertising as a way to reach rich African Americans. Black Enterprise, Essence, and other black-owned publications named as channels to reach the target audience. I do not agree with the use of print media advertising, since it is expensive and becoming more and more irrelevant. I have marketed my own business quite heavily with Internet advertising, which has been cost-effective and profitable for my company.

The authors are certainly correct, however, in bringing to light the fact that affluent members of the black community are often ignored. The media presents stereotypes of black people as being poor and only interested in hip hop and urban culture. There is an enormous subculture of African Americans of influence, including those in groups like Jack & Jill, who are not interested in being marketed to in the same way as the working class. Even endorsers like Tiger Woods, who has lost some of his brand value lately, are going to have a different impact on affluent black people than he would on those in the working class. Companies may be missing an opportunity if they do not take heed of the principles in this book.

Lawrence Watkins is the CEO of The Great Black Speakers Bureau and an MBA student at Cornell University. For more information, please visit LawrenceWatkins.com.