Are Hispanic digital and print media delivering results on marketers’ investment? This question was at the core of a mid morning panel, featuring Trevor Hansen, CEO of EPMG 360 and Daniel Rosas, multicultural marketing director of Kellogg’s, who shared with the audience some of the challenges faced by both, media agencies and consumer product companies in measuring and tracking data to better address multicultural audiences.
The conversation, moderated by Group M’s CEO Bart Flaherty, touched on the importance of raising Hispanic metrics to the same standards as general market. Data, Flaherty, insisted is not only a must. “It is possible to save up to $200 million in marketing budget in one year if you have the right data and measuring tools,” said Flaherty, who has consulted several Fortune 500 companies. “Unfortunately, many marketers get lost in the figures.”
Asked about the way Kellogg’s measures ROI in the U.S. Hispanic market, Rosas, said there is no silver bullet; but as a general rule you have to start by forging partnerships with your partners in the financial department and make sure you are all on the same page. “CMOs and the finance department should work this out together to make sure we can measure apples to apples.” Same thing applies to the relationship you forge with your customer teams, he added.
When addressing the subject of print media, both panelists agreed about its importance, but differed on the measurability of such a medium.
“Print is very difficult to track,” said Hansen, whose media company has worked with digital and satellite companies, which have the ability to know their metrics on an hour-by-hour basis. However, this is something that cannot be done with print media. “The Scarboroughs of the world are great but they don’t measure all the media,” said Trevor, a print media enthusiast who at some point spoke almost passionately about the medium. “I I bleed ink. My parents were publishers!… Print media, at the local, grass-roots level can be intimate, relevant, speaks, can move mindsets and educate.”
Sure, said Rosas, but for a marketer like Kelloggs, you must do one thing to push for it: “Two words: Get audited,” said Rosas. “That will help us both go along with it.”