There is no doubt that Hispanic consumers and media deserve a higher share of the $200+ billion U.S. advertising pie. The demand equation is clear, considering factors such as population, purchasing power, average age etc. Hispanic advertising expenditures of most Fortune 500 corporations are ridiculously low.
Hispanic Media Executives must resist pushing back-of-the-envelope calculations of what advertisers’ “adequate” Hispanic media expenditure should be. Assuming a position of entitlement is not the way to go. A much stronger case for increased investment can be made by presenting ROI enhancing business propositions. The strength of the Hispanic market warrants more than merely “quota” or “minority” advertising.
Even though demographic factors are extremely compelling, what marketers need to be convinced about is of the viability of Hispanic media to reach Hispanic consumers and to drive sales. To present this case requires more work than back of the envelope media spend calculations. For the print and digital media world, the relevant metrics include: product quality, reach, quality of distribution, readership figures, as well as more qualitative research.
A new, perhaps more sophisticated and studied generation is taking over the helms of Hispanic media companies and has an extraordinary opportunity to show advertising agencies and corporations why it makes so much sense to reach the heterogeneous Hispanic media market.
It is our aim here at Portada as we enter our fifth year and prepare for our second annual conference to contribute to the growth of Hispanic media and advertising by providing a nuanced and in-depth look at each and every aspect of our dynamic industry.