Analysis: 8 Key Questions about Hispanic Marketing You Need to Address (Updated)
Portada’s Annual Hispanic Advertising and Media Conference in New York City this Thursday Sept. 20 offers a good reason to reflect on the state of the Hispanic Marketing, Advertising and Media industries. The opportunities, challenges and key issues our sector faces are all reflected in the conferences agenda. Let’s take a look at 7 key questions:
1. The Language Question
The Language-Question: (English, Spanish or both?) is a crucial issue marketers targeting the Hispanic demographic need to learn about. Until recently, reaching out to the Hispanic demographic meant to do it in Spanish. Not anymore: With the launch of new TV properties (see NuovoTV), digital media (e.g. NBC Latino.com, Voxxi and FoxNews Latino.) and print properties (e.g. Cosmopolitan for Latinas) marketers have many options to reach Hispanics in English and “in culture”. Felix Palau, VP Marketing, Tecate, Maria Rodas, Multicultural Marketing Manager, General Mills, Marc Strachan, VP of Multicultural Marketing Diageo and Javier Garcia, GM U.S. Hispanic Market, Yahoo! will share their experiences in a panel moderated by Portada’s Senior Correspondent Laura Martinez.
2. Hispanic Marketing “Nice to have “or “Must Have”?
According to a recent Nielsen white paper (The State of the Hispanic Consumer – The Hispanic Market Imperative), “many companies believe that significant growth opportunities come from outside the U.S., but the Hispanic market offers unique growth prospects within our borders”. “If it were a standalone country, the U.S. Hispanic market buying power would make it one of the top twenty economies in the world. What’s more, the per capita income of U.S. Hispanics is higher than any one of the highly coveted BRIC countries (Brazil, Russia, India and China).” However, believe it or not, many C-level marketers in Fortune 1000 companies do not understand the strong rationale for Hispanic marketing. The Retail Advertising panel at our upcoming Annual Conference, will explore these and other questions. Maria Cristina Rios, Director Multicultural Marketing & Media Strategy, Macy’s, Ronald Mendez, VP Group Account Director, MPG, who manages the Autozone and Sears-Kmart accounts, and Dawn-Marie Gray, Senior Marketing Manager Multicultural, CVS will be participating in this panel, which will be moderated by Trevor Hansen, CEO, EPMG.
3. The Role of Celebrities enforcing Marketing Messages targeting Hispanics
Celebrities play a major role in engaging the Hispanic Consumer (see for example Jennifer Lopez partnership with NuvoTV). Norma Lujan , Director, Multicultural Marketing, L’Oreal USA and Melissa Smith, EVP at RLR Public Relations will explore how celebrities leverage publicity for a brand. They will show examples of how celebrities strengthen marketing messages targeting Latinas and discuss the role of traditional media in celebrity product endorsements as well as grassroots and social media efforts. In addition, they will look at how Hispanic celebrities impact marketing messages that go beyond the Hispanic population.
4. Big Data – The Hispanic Version
Big Data is the future of advertisement. More than ever, advertisers need to deliver more relevant and meaningful promotions to targeted consumers. The use of big data allows advertisers to sort through vast amounts of structured and unstructured data from multiple sources to help identify the best ways to promote products to defined customer segments. Nowhere is this truer than in the Hispanic market, because of the diversity and heterogeneousness of the Latino population. Oscar Padilla, VP Strategy, Luminar will explain how brand owners, agencies and media owner should apply the big data concept to Hispanic marketing.
5. International IP Targeting: Buying Global Latin Digital Audiences
Spanish language digital media properties can be reached not just by Hispanics in the U.S. but by more than 400 million Spanish-speakers worldwide (mostly in Latin America and Spain). This creates substantial opportunities for advertisers to geotarget their offerings to specific segments of the Hispanic population. Geotargeting technologies also offer Hispanic digital media properties new opportunities to monetize their traffic.
Guillermo Abud,VP Digital Director, MV 42 will describe campaigns that target U.S. Hispanic audiences via Latin American websites and Latin American audiences via U.S. Hispanic websites.
6. Hispanic Mobile Marketing, lots to learn
Mobile media (smartphones, tablets, ) currently are a marketing opportunity bigger than the PC twenty years ago. How this opportunity relates to the heavily mobile Hispanic population is going to be at the forefront of the Hispanic Mobile Marketing Forum which will take place this Wednesday Sept. 19, one day before our Annual Hispanic Advertising and Media Conference (same venue). Tania Cameron, Associate Director CRM – Hispanic Segment Kraft Foods will share how Kraft leverages mobile marketing technologies to reach out to Hispanics. Elizabeth Elliott, Mobility Manager at Starcom where she works on Procter & Gamble’s Hispanic mobile strategy, will provide insights into P&G’s Hispanic mobile marketing strategy.
7. Mobile Advertising, Is there a Business Model?
The mobile advertising technologies sector is very hot. Yet it is not clear if mobile advertising revenues offer a sustainable business model to pure play mobile media properties. This will be an interesting question for John Trimble, CRO of Pandora during an on-stage conversation with Rudy Rodriguez, multicultural Marketing Director of General Mills. Pandora, the music streaming service, increased mobile ad revenue by 86% to $60 million in its fiscal Q2 2013. Total revenues were $101 million -- meaning the company now makes a solid majority of its ad revenues from mobile devices.
However, Pandora is still losing money. Pandora’s financial results reflect a frequent situation in the mobile advertising sector: While companies are making progress towards increasing mobile advertising revenues, those sales incre
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