From ‘Mad Men” to “Math Men’: @Portada’s Annual Conference
After a morning of marketing, media and advertising insights, Portada’s 6th Annual Hispanic Advertising and Media Conference took a turn to showcase the power of data, and what data can do to help marketers reach their goals and make an effective sell of everything, from credit cards and hair-care products to automobiles and political messages.
During a mid-morning presentation Thursday, Oscar Padilla, vp of strategy at Luminar, urged the audience to take analytics more seriously, and to learn how to “translate data into business intelligence.”
It is no easy feat. Data is not only more important than many people think, but also much more overwhelming than imagined. For starters, data shows that 2.9 million emails are sent out every second worldwide. “Data is more prevalent than many people think,” said Padilla, who hammered the power of analytics, whether to track what people put in their shopping carts to what they do with their credit cards and who they vote for and why.
Alas, when it comes to the Latino market, there is not a lot being done in the world of analytics and there is still a lot of old-fashioned metrics going on. Worse, he said, there are still a lot of misconceptions about consumer behaviors and shopping patterns because they are based on mere assumptions. Luminar, which is an affiliate of Entravision Communications, licenses data from about 2,000 different sources to create a master file and come up with the right analytics.
As a matter of example, Padilla offered a recent case study where Luminar analyzed the Latino population of Denver, Colo, the capital city of a “battleground state,” to determine voting preferences and other insights about the voting bloc represented by Hispanics in Denver. Using data showing that approximately 14 percent of the roughly 400,000 registered voters in Denver are of Latino descent, and crossing it with voting tendencies, purchasing insights, language preference, gender and other factors, the company was able to come up with some revealing findings. Among them: Spanish continues to be the language of choice for the majority of Latino voters in Denver; Latinas in Denver represent 53% of total registered Latino voters, compared to 47% of their Latino male counterparts. However, about 62 percent of these women consider Spanish their primary language and their voting age tends to be younger than the men.
“By gaining a deep understanding of Latino consumer habits, political strategists are better able to develop highly relevant communication campaigns that can truly connect with Latino voters,” said Padilla.
Get ready for #Portada16 on Sept. 14 and 15 in New York City! The Hispanic Sports Marketing Forum on September 14, and the 10th Annual Hispanic Advertising and Media Conference on September 15 will provide you with the best content and unparalleled networking opportunities to succeed in Multicultural America.
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