At first, we were going to pursue a regional marketing strategy based upon culture, country, sentimental affiliation, interest and/or in the most local cases, tribal affiliation. While regional marketing is a great starting point, and there is a strong desire for Americans of African descent, expatriates, and immigrant communities to stay up to date with current events of friends and family in specific regions, tracking of financial connections may in fact be the best way to identify connections to specific regions. The latest figures about African Diaspora remittance show that in 2012, despite paying far more remittance fees than most other areas in the world, Africans still sent money home to Africa, a whopping 60 billion dollars.
These dynamics change the baseline for marketing due to identified monetary networks and consumer-spending trends, and the ability to identify geographically where marketing dollars and efforts reap the most revenue returns. This macro oversight will lend to the micro and local dynamics of the market when observing who participates locally in rural, urban, and international trade and basic monetary exchange. The most successful brands go so local they become part of society – running marathons and musical festivals, raising money following natural disasters or regularly responding directly to customers. If we are able to facilitate electronic commerce via remittance and other financial products to areas where traditional banking is a challenge while marketing and advertising products via KGN, we may create a unique news and commerce culture within our market and elsewhere, in addition to providing language translation regionally.
The advantages of the “Follow The Money” strategy are that we are posed to immediately jump right into a monetary exchange system and address the issue of high remittance fees while facilitating the consumer with news and information regarding their home of origin, global news, and the latest taking place with family and friends. The disadvantage of this strategy is that it leaves a lot of gaping holes where monetary exchange is low, some people who want news and entertainments already possess the means to bank and send money, and there would be no accounting for the upper middleclass and wealthy segments of society or their spending and purchasing habits. In conclusion, it is in our best interest to pursue the last strategy to address this cohesive communication and marketing aspect of our organization, which otherwise could be problematic if not addressed properly and continually updated with new campaigns guided by the market and the consumer.