NABOB Conference Touts $1.3 Trillion Buying Power Of Black Consumers

Story by Inside Radio

With $1.3 trillion of buying power, the might of Black consumers is of vital importance to advertisers. Add to that the fact that African Americans are receptive to advertising and believe that radio ads provide them with meaningful consumer product information—and it is obvious they are a match for those marketers turning to the airwaves to reach the demo.

“The role of radio, particularly Black radio, in the community is important and of great influence,” said Steven Roberts, CEO, Roberts Radio Broadcasting, during the recent 43rd National Association of Black Owned Broadcasters Annual Fall Conference and 19th Annual Power of Urban Radio Forum.

During the gathering, advertising and broadcast professionals discussed broadcast radio’s strengths and impact among African Americans. Referencing both the event and radio’s role, Chesley Maddox-Dorsey, CEO, American Urban Radio Networks (AURN), offered, “We’re here today because people think we’re relevant. Radio is relevant,” according to coverage of the conference by the Radio Advertising Bureau on its Radio Matters blog.

Indeed, when it comes to connections, “Radio personalities or DJs have always been a part of the accounts I work on,” said Vanessa Vining, Senior Media Director of ad agency Fluent360. “If you are speaking to people in an authentic voice, context matters. Black people are not just one thing. There is nuance. There is complexity within the segment. Understanding differences within the African American or Black segments is something that a lot of marketers and planners don’t recognize.”

In her coverage, Annette Malave, RAB’s Senior VP/Insights, shared GfK MRI data that states the Black consumer is more likely than the U.S. population to: consider or purchase a brand based on a celebrity endorsement (75%); have a greater connection to their ethnic heritage than their parents (72%); be influenced by what’s hot and what’s not (62%); and pay extra for a product that is consistent with the image they want to convey (38%).

“With incredible buying power, this young, strong and influential consumer should be part of every advertiser’s campaign,” Malave writes. “Radio, as not only the highest reach medium but the one that connects like no other, should be part of every advertiser’s media plan.”