Approximately 500 advertising and media professionals participated last Thursday and Friday in Chicago for the Association of Hispanic Advertising Agencies’ 22nd Semi Annual Conference. The conference, titled “The Mutant Latino Conspiracy,” had a strong emphasis on Hispanic digital marketing. Some participants wondered about the reason for this overwhelming emphasis on digital, when more than 95% of the Hispanic advertising industry’s sales volume is still done in traditional media (TV, Radio, print and outdoor).
However, it also became clear that clients, advertising agencies and media need to innovate to keep up with the media consumption trends of Hispanics. According to Forrester Research, 13.9 million Hispanic adults are online and more than half of those have broadband at home. According to the Pew Research Center, online U.S. Hispanics are early adopters and users of media, devices and their features compared to the general population. Currently, only 2% of Hispanic Advertising investment is spent in display online advertising. Attendees agreed that this proportion is bound to increase significantly over the next few years.
Tamara Barber, a researcher at Forrester Research, noted that device ownership is growing a lot among Hispanics. Other results of her research include the following:
– Hispanics are more likely to listen to Internet radio than general market consumers
– Looking up account balances is the most important online activity for Hispanics
– Spanish-language content is a must for 23% of all online Hispanics
– 51% (or 7.1 million) of all Hispanic Internet users are prefer Spanish-language content online.
– Half of Spanish-preferring Hispanics would research more products online if they were available in Spanish.
– Spanish-preferring Hispanics are les likely to engage in online financial transactions due to trust issues.