The Digiday Podcast

My Code’s CEO says a floor, not a ceiling, has been set by advertisers for multicultural marketing

Feb 27, 2024

My Code's CEO discusses the shift in advertiser budgets towards multicultural marketing as a minimum standard. The podcast explores My Code's focus on Latinx media, research strategies, and utilizing first-party data. It also delves into adapting to changes in ad spend, strategic growth plans, and the importance of diverse marketing approaches.

45:09

Creator website

Episode guests

Parker Morse

AI Summary

AI Chapters

Episode notes

Podcast summary created with Snipd AI

Quick takeaways

The industry standard of 5% for multicultural marketing budgets has transformed into a minimum threshold, not a maximum limit, representing a positive change in advertiser attitudes.

My Code has strategically expanded its portfolio of Hispanic audience-focused publications to offer a comprehensive representation of Latinx consumers, emphasizing the value and buying power of this demographic.

Deep dives

Expansion of Diverse Media Portfolio

My Code's CEO discusses the company's growth in acquiring Latinx media publications to diversify its portfolio. This move has enabled them to reach a broad audience within the Latinx community, focusing on different demographics in regions like New York, California, and Florida. The company aims to showcase a diversified audience to potential advertisers, emphasizing the value and buying power of their audience through characteristics like household income and more.

Introduction

2min

Evolution of MyCode in Latinx Media Landscape

21min

Approach to Research in Multicultural Marketing

3min

Utilizing First-Party Data for Diverse Marketing Strategies Post-Cookie Deprecation

5min

Adapting Strategies for Evolving Ad Spend Landscape

11min

Strategic Growth and Investment Plans in Multicultural Marketing

3min

While the recent advertising slowdown has also impacted the amount of money allocated to marketing to media companies created for non-white audiences, Parker Morse, CEO and founder of My Code said that it hasn’t stopped marketers from realizing the value in reaching multicultural audiences.

In fact, while the industry standard is 5% of advertiser budgets earmarked for multicultural marketing, that figure has turned into a floor, not a ceiling, over the past few years, he said, adding that the expectation is that 2024 will see a return to growth in this sector.

On the latest episode of the Digiday Podcast, Morse talks about how My Code is iterating on the go-to-market strategy this year to ensure marketers are aware of the value in reaching multicultural and historically underrepresented audiences, both from a buying power perspective, but also from a sheer volume perspective. Morse also discusses how My Code has spent the past three years building out the portfolio of Hispanic audience-focused publications to build a more holistic representation of Latinx consumers in the United States.

Get more from Digiday with the daily newsletter, sent out each weekday morning. Visit digiday.com/newsletters to sign up.

Remember Everything You Learn from Podcasts

Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.

The Digiday Podcast

My Code’s CEO says a floor, not a ceiling, has been set by advertisers for multicultural marketing

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

Expansion of Diverse Media Portfolio

Strategic Approach for 2024

Data and Research Strategy

Marketing Strategies and Trends

Remember Everything You Learn from Podcasts