Jewish Marketing: The Why
If you are reading this article, it is likely that you either have a product or service that has some potential for growth in the Jewish market. Even if you do not have an offering that you are actively interested in marketing, this should be a quick, interesting and informative read.
So… the million dollar question is as follows:
Through our work here at SquaredUnion, where our sole focus is providing our clients with Jewish marketing and related advertising services, we see a variety of primary motivations for putting resources toward marketing to this small, yet high-potential population group.
Four of the most common Jewish marketing motivations are discussed below:
1) Offerings With Unique Jewish Relevance
One of the most common drivers for companies and organizations trying to market to a Jewish audience relates to their product or service having a unique application to the Jewish demographic. In the case of our clients, this relevance has ranged from being geographic in nature to innate characteristics of the community. Geographical relevance can come in the form of a physical offering being present in a highly concentrated Jewish neighborhood, while population characteristics can include an offering in the life sciences category relating to genetic markers found in certain cross sections of the Jewish population.
From the examples listed, it should be apparent that the reasons to market a general offering that has unique relevance to the Jewish community is broad ranging. Companies and organizations that are intimately familiar with both their offering and the potential marketing opportunities are often the ones that have the foresight to tap into the relatively small but potentially lucrative Jewish segment.
2) Jewish Specific Offerings
In addition to the motivation to market offerings that are applicable to the mass market but have specific Jewish relevance, there are also the offerings that are applicable to only the Jewish market. While this is an obvious and less broad category of offerings, it is the reason for a lions-share of the motivation for Jewish focused marketing.
These offerings native to the Jewish community range from traditional brick and mortars to digital outfits. Depending on the nature of the offering, the opportunity and methodology for marketing differs. These offerings are generally more challenging in terms of maximizing potential when compared to the previously discussed mass market offerings with specific Jewish relevance. This is primarily because they are generally offerings that are less unique and are oftentimes entering a rather saturated market with substantial existing competition. Examples of these offerings include those in the religious category as well as kosher food.
3) Benefits of A Predictable Demographic
While there are numerous reasons to market to the Jewish community which are based on characteristics of the offering itself(such as the two previously listed), there are also rationales that are based only the Jewish audience.
One of these rationales relates to the predictability that the community provides for marketers. This is based on the availability of numerous platforms whether they be print or digital that allow for a laser -like focus on reaching specific segments of the Jewish population. This capability for such targeting when compared to other population segments, such as the Hispanic one, let alone mass market, makes the Jewish audience a unique and attractive marketing segment.
This focused marketing approach that the Jewish audience provides for allows for both an initial ease of targeting as well as subsequent refinement of resources. This allowance for ongoing optimization of spend can result in a substantially greater level of effectiveness and efficiency when compared to similar mass market campaigns. It may therefore be of no surprise that some marketers are claiming that “mass market is dead” and pushing more resources to segmented and more granular campaigns.
4) High-Potential Segment
While it important to stress that generalizations with any population are just that, generalizations; there are aspects of the general Jewish demographic that sets them apart from other segments as well as the mass market.
Perhaps most substantial, at least in the context of marketing, is the substantially higher than average wealth profile among the broader Jewish community in the United States. For example, 46% of Jews earn more than $100,000 a year, compared to 19% among all Americans (Pew Forum Institute). While the reasons for this are varied, perhaps the fact that Jews are also the most highly educated when compared to other religious groups plays a significant role.
This relative wealth lends itself especially well to those offerings in the luxury hospitality and related lifestyle categories that need to market to a wealth profile with substantial discretionary spending power. While these offerings can target their optimal customer through geo-specific OOH or luxury focused platforms, the Jewish segment allows for a unique focus on a population segment that is more tangible.
As stated, these statistics regarding financial success relate to when we are discussing the Jewish population as a whole. On an individual basis though, there are many Jews who are struggling when it comes to making ends meet. This difference is likely most apparent when comparing Jews who may live in rather affluent communities, such as New York City, with perhaps Jerusalem, which has a large number of relatively poor Jews. With that being said, there is still a substantial portion of Jews in New York who are struggling as well.
In this discussion, our goal was to review some of the main rationales that we see motivating businesses and organizations to market to the broader Jewish audience. This series of discussions focused on Jewish marketing will continue and include other topics including how to properly market to the Jewish community, potential pitfalls, and some of the strongest opportunities. The next topic will be about some of the best platforms for Jewish specific marketing.
If you have any specific questions about Jewish marketing, please do feel free to send me a message.