Segmentation strategies for non‐profits: mining the emerging market of “black gold”

Purpose – The purpose of this article is to present a strategic conceptual framework for targeting and mining the emerging market segment of Black philanthropy (black gold). Design/methodology/approach – This strategic and normative conceptualization utilizes a socio‐historical and socio‐cultural perspective to posit the black gold construct and recommend tactics for mining it. Findings – Black communities have historically engaged in social justice and self‐help activities for racial equality and advancement and with increasing levels of wealth accumulation now comprise a significant market for philanthropic giving for domestic and global non‐profit organizations. However, in light of Black America's tortured socio‐historical experience and racial/cultural identity, non‐profits must devise a historically‐informed and culturally‐nuanced strategy of relationship marketing to mine the emerging market of black gold. Practical implications – Domestic and international non‐profits can utilize the proposed strategic conceptual framework to increase their donor and volunteer participation in segmented or minority philanthropy markets. Originality/value – The proposed framework is strategic in nature, original in conceptualization, and socio‐historical and cultural in its methodological analysis. It can serve as a model, with some contextual modification if necessary, to tap other minority philanthropy markets.