We’ve been celebrating Asian American and Pacific Islander Heritage Month throughout the month of May and it’s amazing how far families can come within a generation. Many Asian Americans and Pacific Islanders have been raised in homes that highly value education, financial security, hard work, and entrepreneurship. With those values and beliefs, and a lot of courage, many American dreams have been built piece by piece.
We’ll see what the 2010 Census numbers show, but previous statistics show that dreams do come true. According to the 2007 American Community Survey, 86% of single-race Asians 25 and older had at least a high school diploma, as well as 84% of single-race Native Hawaiians and Other Pacific Islanders. Half (50%) of single-race Asians held a bachelor’s degree or had a higher level of education, with 15% of single-race Native Hawaiians and Other Pacific Islanders having that same level. In terms of graduate and professional degrees, 20% of single-race Asians have them, as well as 4% of single-race Native Hawaiians and Other Pacific Islanders. The median household income in 2007 for single-race Asians was $66,103, which was the highest among all race groups. For single-race Native Hawaiians or Other Pacific Islanders, the median household income in 2007 was $55,273. Back in 2002, Asian Americans and Pacific Islanders owned 1.1 million businesses, employing over 2.2 million people, and generating more than $326 billion in business revenues. The 2007 Survey of Business Owners (SBO) results will be released this year, and those numbers are expected to climb even higher.
In total, Asian Americans represented approximately 5.3% of the consumer market in 2009, and our disposable income and buying power rose to $508.6 billion in 2009. Impressive. It is estimated to top $696.5 billion in 2014. Even more impressive.
How do you market products and services to such a lucrative segment of the population? And how should you craft the right message to a group with such diversity within it? There are so many different languages, cultures, subcultures, and even generational differences to consider. For example, Asian Americans that were born or grew up in America may well be more American in their thinking and actions than Asian.
There is no single or easy answer, but just as it would be to get the most out of visiting a foreign country, a key part is being open to understanding the people around you as soon as possible. If you put forth goodwill first by listening, observing, and relating to people in a warm, courteous, and personal way, more often than not, you’ll connect with them, even if you don’t speak the language fluently or know any of the local customs.
This is also sound advice for anyone trying to market to Asian Americans and Pacific Islanders or any other group. Although it may seem like a lot of work to learn about the different languages, cultural nuances, and traditions of each group, you will reap the benefits many times over if you invest in understanding the different parts, rather than just the sum. Data is certainly valuable, so collect it carefully with this goal in mind. Look at it in aggregate, but segment it carefully, too. Listening to us by holding focus groups, supporting efforts in our communities, and speaking with our leaders are also great starting points. By doing these things, you’ll learn our stories—the ones that have shaped our core beliefs and values. And when you do, you’ll know what’s important to us, and crafting an effective message won’t seem so daunting. Moreover, if you invite us to participate in your community as well, we’ll have the chance to hear your stories and learn what is important to you. We may just find many shared values and goals, and working together, we can begin a new set of American dreams and set things in motion for the next generation.
Dr. Tammy Lin is board-certified in internal medicine and practices in San Diego, CA.
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