As of today, 33 states have received their 2010 census data numbers – the remaining 17 states, the District of Columbia and Puerto Rico will release their numbers by April 2011. But why are the 2010 census dates numbers so important for marketers? Simply said, the numbers will reveal that U.S. Hispanics are the fastest-growing demographic with an estimated buying power of $1 trillion. Nonetheless, organizations still struggle when it comes to marketing to the U.S. Hispanic market because they are producing campaigns which lack in cultural relevancy, language of preference, and fundamentals beliefs.
Our final panel of the day explored the diversity of the U.S. Hispanic market, including how the U.S. Hispanic market varies by Designated Market Area (DMA). For example, will you communicate with Hispanics in Los Angeles the same way you would with Hispanics in Miami? In addition, with such a diverse segmented market, which group of Hispanics will you be targeting – the Hispanic dominant isolated, bi-cultural acculturated or the U.S. dominant assimilated?
The 2010 Census data will further highlight that the definition of “mainstream” is changing in the media world. Mainstream America has changed into a multicultural nation. And in order for brands to reach this segmented market, companies will need to expand and go beyond television to reach the U.S. Hispanics and execute on the touch points of where they are now – social media and mobile. Integrated Hispanic marketing campaigns which highlight brand messaging through mobile, online, radio and television will be important to reach this growing demographic. As a result, precision marketing will be the best approach in reaching the U.S. Hispanics and touching the different passion points within the market.
Here are best practices to running a successful Hispanic/Latino Campaign:
– Reach out to Hispanic experts from the beginning
– Define specific Hispanics segment to target
– Identify the ideal markets to target for the campaign. Demographics are vital. It will help you create a better cultural connection.
– Go beyond translations, create meaningful relationships
– Listen to the Hispanic market needs as those insights will help guide the campaign
At the end of the presentation, panelist Roberto Ruiz of Univision left us with an important question to ask brands as they begin planning their next marketing efforts, “Where do you see your growth coming from in the next 10 years? If you don’t have Hispanics in there, then I don’t know where you’re going to find that growth.”
We were able to get final thoughts from: