We are absolutely delighted to present today’s guest blogger, Michael Soon Lee, MBA. He is the author of “Cross-Cultural Selling for Dummies”. He is the first Asian American to earn the Certified Speaking Professional (CSP) designation in the history of the National Speakers Association.
If businesses and salespeople want to survive and thrive in today’s difficult economy, they need more customers. Multicultural consumers are the fastest-growing consumer group in America.
According to the U.S. Census Bureau over one-third of all Americans are minorities and by 2042, they will be the majority. People from diverse cultures present a tremendous opportunity for companies to sell more products and services… if they are willing to adjust their practices to better serve the unique needs of Hispanics, African Americans, Asians, Middle Easterners and others.
Many Americans wrongly believe that multicultural people only want to do business with people from their own culture. In most cases, nothing could be further from the truth as long as they are treated with respect and patience. In some cases, minorities deliberately seek out businesses and salespeople who are from outside their culture. For example, in real estate, some Asian and Hispanic clients look for agents who are not from their culture because they are afraid that if they share personal financial information with one of their brethren that private information might get spread around their community.
Developing a diverse customer base takes more than simply printing brochures in different languages or hiring a few bilingual salespeople. It requires a long-term commitment and a willingness to adjust business practices to meet the special circumstances of minorities in America. U.S. businesses can bridge this gap and increase sales to the multicultural market by educating themselves on the differences.
One of the biggest challenges when trying to attract this group is that they don’t buy products and services in the same way as Anglo Americans and they may prefer goods that are customized for them. For instance, grocery stores may need to expand their selection to include the preferences of growing ethnic groups in their service areas.
Just a few of the other diversity differences that affect retailers and service providers include: building rapport, negotiations and contracts. For instance, it’s a little-known fact that not all people throughout the world are comfortable being greeted in the same way. As Americans, we assume that everyone wants to be met with a firm handshake. That is not necessarily true. In fact, the most common greeting in the world is the bow, not the handshake which can actually be offensive to many people. more…
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