Portada’s Emerging Hispanic Markets Forum took place yesterday at New York City’s Scholastic Building. It is followed today by the Fifth Annual Hispanic Digital and Print Media Conference.
Forum attendees very much liked a presentation by David Flynn, Marketing Director of Novamex, on “How to detect an Emerging Hispanic market”. Flynn said that he relies on observation much more than on data. “Data comes after the fact”, he noted. According to Flynn, important indicators for a company to target the Hispanic population in a specific market are:
- neighborhoods in transition
- Small bodegas (independent stores “tiendas’ serving the Hispanic communities”
- Service providers catering to the Hispanic community like small Restaurants, Nail Salons, Wire Transfers.
A very important “green flag” is the existence of local Hispanic media properties. Usually an AM radio station gets launched, then a local newspaper, followed by an FM station and son on…
During the Media Buyers/Agencies panel Laura Sonderup, Managing Director and Senior Strategist, Heinrich Hispanidad in Denver Colorado, pointed out some important features about Colorado’s Hispanic population that should be important to marketers. “The southern part is very agriculturally based and has a strong influence from New Mexico. The northern part of Colorado is a region where there are many ski centers and Hispanics working in the service industry who have a different profile. In terms of media choice Sonderup added “that just because I prefer English does not mean I don’t consume Spanish-language media.”
Cesar Sroka, Connections Director – WalMart account, MV42 noted that WalMart is seeking marketing partners who can provide content.. The idea is to tailor content, including news and information that local audiences desire and demand. He explained that WalMart’s footprint in the U.S. covers all Emerging Hispanic Markets very well, with the exception, perhaps, of Nevada. “The challenge is to drive growth outside of the top Hispanic markets while protecting share”, he said. He also highlighted that often media in Emerging Markets can expand at a significant lower out of pocket cost than in traditional markets and that local radio and newspapers are a trusted source within the emerging Hispanic markets.”