Page 7 - The Case For Change

6 THE CASE FOR CHANGE

we theoretically embrace — is not backed up with the systems to optimize and better connect
with our diverse consumer audience base.”

“There are many structural issues in our ecosystem, and we need to do better in marketing,”
he added. “The industry is less aligned with where America is going.” The mission of AIMM is
to address these shortfalls and highlight the growth opportunities.

III. ECONOMIC AND

SUSTAINABLE VALUE

When Michael Lacorazza fi rst received a phone call from AIMM co-founder and DMI Co-
President Gilbert Dávila, he had an instant response when asked if he wanted a role in the
creation of AIMM.

“I said yes without even hearing the specifi cs of it.”

An important reason stands out in Lacorazza’s mind for
making the call. “I believe there are substantial business
upside opportunities when [brands] connect to Multicultural
and sub-segment audiences in a relevant and meaningful
way,” he said.

They can’t stop there: a brand also needs to enhance its
customer services to better engage these audiences,
Lacorazza added. While there is progress in advancing
the capability to do it, Lacorazza frets that there is a lot of
“unevenness” in how a brand positions its business value and
MICHAEL LACORAZZA in knowing how to go to market in a relevant way.

Lacorazza knows well what he’s talking about: Wells Fargo has enhanced economic/sustainable
value through the efforts made in Multicultural marketing. He stated, “The growth that we have
experienced is largely due to these loyal customers who are less likely to leave us and more
likely to come to our aid in times of crisis.”

“There has been more intent and energy in the industry around advancing these capabilities,
but I don’t think the outcomes have lived up to the good intentions, if you will,” Lacorazza
continued. With three decades of experience under his belt, Lacorazza’s lament comes down to
actions resulting from words.