AV Communications (AVC) and The Filipino Channel (TFC), the 24-hour global subscription television network of ABS-CBN (the Philippines’ largest entertainment and broadcasting company), reveal why Filipino Canadian consumers are the next ‘goldmine’ market Canadian brands should add to their diverse audience portfolio.

Close to 1M Filipino Canadians are now living in Canada. Before the pandemic, the Philippines is the number one source of immigrants in the country and is the third-largest Asian Canadian group after the Chinese and Indian communities. This growing number alone is enough reason to finally put a spotlight on the ethno-cultural group.

AVC and TFC took the lead by organizing Filipi-NOW, the first webinar in North America that provided marketers an intimate look at Philippine Canadian audiences, insights, and media.

During the hour-long session, AVC CEO Joycelyn David together with Raymond Olano, Head of Partner Marketing; Rosary Escano, Regional Marketing Head; and Abigail Katigbak, Partner Marketing Specialist at ABS-CBN Global elaborated on what exactly makes the Filipino consumer tick.

“The Filipino market is very unique. We’re not homogenous. There’s first-generation and second-generation Filipinos. Not all Filipinos speak the same language. There’s a lot of dialects. And so, when we work with brands and clients, we like to help provide deeper segmentation for them in terms of how best to align their brand to the personas of the audience,” says David.

Filipinos come to Canada from different walks of life. 77% are first-generation immigrants composed of family migrants, international students, and temporary foreign workers who are building their careers in the hospitality, healthcare, and trade sectors. Their migration journeys may be different from each other, but they’re all bound by a strong connection to the motherland.

TFC has been instrumental in keeping that connection alive for over 25 years, having been one of the world’s largest creators and distributors of Filipino content. “Through TFC, ABS-CBN Global brings superior Filipino content in the form of news and information, dramas, variety shows, and movies. Content that are widely enjoyed and consumed by the Filipino market,” says Olano.

Intending to connect the Filipino diaspora to their roots, TFC continues to up its game by offering exceptional viewing experiences delivered through linear viewing on cable and satellite and online streaming through OTT platforms such as I Want TFC and IPTV. Through TFC, brands can easily reach Filipinos no matter where they are in the world.

Beyond this massive reach, TFC’s brand of news and entertainment is top-notch. Olano adds, “Based on the March results of Comscore, which as you know is the TV ratings and analytics audit company in the US, TFC shows have placed in 9 of the top 10 most-watched Asian content in the US. While this is US data, we can assume that the viewing behavior of Filipino Canadians are not far off.”

More than Filipino Canadians being a goldmine for market growth, David also reiterated the importance of BIPOC representation to which Filipino Canadians are an integral part.

“In an age of representation and where representation matters, where we’re trying to dispel all of these nasty things out there about Asian hate that is happening unfortunately in the world. Representation and putting your business dollars into supporting and representing is so important. And I think for any business that wants to live by ‘we embrace diversity and inclusion,’ then they must be embracing that through the representation of talent: behind the camera, in front of the camera, in your supplier choices, in your media choices.”

And for marketers and brands who sincerely want to champion BIPOC voices, David encourages them to take concrete action, “And I’ve said it to many clients and I’ll say it again, the visible minority population in Canada is 20 percent. So, 20 percent of your marketing dollars should be put towards multicultural audiences. If it’s not there, get it there.”

If you would like to know more about Filipino Canadian audiences, start by watching the full webinar here or drop Joycelyn a line and say “Mabuhay!”

In a recent study by ETHNIHUB^TM, the diverse audience intelligence platform, only 29% of newcomers seek the help of a professional financial adviser. And the reason why may be closely tied to culture.

The majority of new Canadians emigrate from China, India, and the Philippines. These are the three largest ethno-cultural groups in Canada. And they come from collectivist societies where people prioritize the interest of the group and not of the individual.

According to Hofstede Insights’ 6-D Model that provides an overview of the deep drivers of a country’s culture in comparison with other world cultures, China scored 20 and the Philippines 32 in INDIVIDUALISM. This index determines the degree of interdependence a society maintains among its members. Meanwhile, India has earned an intermediate score of 48, the highest among the three countries, which means that it has both collectivist and individualistic traits.

In a collectivist culture, the family takes precedence over people outside of this close circle. Banking and financial experts fall outside of this sphere and are essentially strangers to newcomers. 39% of newcomers seek the advice of family and friends when it comes to their finances. A financial decision significantly impacts their day-to-day lives and would not be entrusted to a “stranger.”

Even though financial advisors are considered experts and essentially know better, newcomers would defer to elder family members for sound advice on money matters.

On Choosing Their First Canadian Bank
Given this culturally driven disposition, it does not come as a surprise that among the newcomers polled 48% choose their first bank based on their family’s recommendation. Also, most newcomers live with the family when they first arrive in the country. According to the same study, 42% live with their extended family in a multi-generational household.
Often, relatives who came before them offer critical support in the areas of health, wellness, education, and emotional well-being. And even financial support when newcomers are just starting and have yet to secure employment to earn a steady income. And so, the opinion of these trusted and close contacts is highly valued.

Family versus Financial Experts
The findings of this ETHNIHUB^TM study should serve as a gentle reminder to banking and financial institutions that when dealing with newcomer customers, the approach is not always cold, straightforward, and business-like. Perhaps the best way they can woo this segment is to make newcomers realize that they can trust financial advisers and that they always have their best interests in mind.

Remember too that they would not only be speaking to a nuclear family. For newcomers, the mantra “all for one, one for all ” applies. Older parents, uncles, aunts, even cousins have an opinion on the financial journey of the whole household.

Each member matters and is well-esteemed. So be warm, go up close, and personal. After all, that’s how one treats family right?

If you want to get more information on ETHNIHUB^TM or learn how to connect with multicultural audiences, contact us.

In the next three years, Canada will welcome 1.2M immigrants from all over the world. The first thing on a newcomer’s checklist is to open an account with a Canadian bank. The sooner they start a relationship with the bank, the better. According to settlement organizations, opening a Canadian bank account should be done within the first two weeks of arrival. It’s necessary for managing money, building a credit history, and paying bills.

A recent study by ETHNIHUB^TM, the diverse audience intelligence platform, shows us what newcomers want from their first Canadian bank.

Let’s dive in!

32% OF NEWCOMERS WANT ‘NO BANKING FEES’  
 17% wish for additional incentives
16% care about security and fraud protection

Newcomers are just starting to build their financial future in Canada. What they can save from not paying extra fees could be used for buying their basic needs. That’s why Canadian banks that offer a reprieve from paying bank fees are one of the things that newcomers seriously consider when choosing a bank.

39% SAYS ‘UNREASONABLE BANKING FEES’ TRIGGERED THEM TO SWITCH BANKS
 22% Bad Customer Service
21% Complicated Banking Requirements

How they are treated by their banks and complex processes are factors that make newcomers think of going to another Canadian bank. But unreasonable banking fees are the deal breaker.

87% OF NEWCOMERS ARE SAVING MONEY
Only 13% do not set aside money for savings.

Did you know? 39% of newcomers that were polled say that they’ve become thriftier and budget-conscious when they moved to Canada. Lack of employment opportunities, the large expense of settling in that includes paying for a home, buying furniture, etc., and managing a household with extended family members living under one roof, affect the financial well-being of newcomers.

With limited income and slowly dwindling savings, it’s no surprise that newcomers are tightening their belts. But it’s also worth noting that they still make savings a priority.

3 MOST POPULAR BANKS AMONG NEWCOMERS
1 TD Bank (Toronto-Dominion Bank)
2 RBC (Royal Bank of Canada)
3 CIBC (Canadian Imperial Bank of Commerce)

Among the Big 5, TD Bank comes out on top as the bank preferred by newcomers.