SALES & MARKETING
American Advertisers Acknowledge Hispanics’ Impact on U.S. Culture
A Golden Opportunity for Companies to Engage Latinos as a Driver of Business
T
he 2010 U.S. Census is expected to find that Hispanics number more
than 50 million in this country, and they command $1 trillion in buying power. Yet 50% of U.S. advertisers, who acknowledge the cultural impact of Latinos, do not include Hispanics in their marketing efforts. The field is wide open for companies that recog- nize the incredible power of Hispanics as a driver of their businesses. That’s the key finding of a new
Hispanic marketing trends survey commissioned by Los Angeles-based Hispanic advertising agency Orci sent to 9,300 senior marketers at Fortune 1000 companies. The survey, conduct- ed via email in February of 2010, was designed to offer a broad and deep look at advertisers’ strategy, spending plans and viewpoints of the U.S. His- panic market. Respondents included senior marketing and advertising executives of B2B, consumer, small, medium and large Fortune 1000 busi-
For the last 30 years a minority of companies that have been smart enough to take advantage of engaging Hispanic consumers have seen their efforts make a difference to their bottom line. Now more than ever, businesses need to think about how to tap into the opportunity the Hispanic market presents.
nesses across the country. Latinos comprise more than 15%
of the U.S. population, and are pre- dicted to rise to 50 million in the 2010 Census, an increase of 42% since the last Census in 2000. In the 2000 report, the Hispanic growth rate of 24.3% was more than three times the growth rate of the total U.S. population (6.1%). Yet the Orci research showed that 51% of respondents do no marketing to Latino consumers. And, 82% have no plans to begin or increase existing efforts aimed at American Hispanics in the next 12 months, despite the fact that the great majority of respondents -- more than 8 out of 10 -- agreed that Latinos will
impact U.S. companies’ product and service offerings in the next five years, particularly in food tastes, fashion and technology. “I am not surprised by the findings,”
said Hector Orci, co-founder and chair- man of the agency, which handles ac- counts such as American Honda Motor Company and Jack in the Box. “For the last 30 years a minority of companies that have been smart enough to take advantage of engaging Hispanic con- sumers have seen their efforts make a difference to their bottom line. Now more than ever, businesses need to think about how to tap into the oppor- tunity the Hispanic market presents.”
What to Take into Account When
P
ortada talked to Karen Habib, Hispanic Marketing Director, at Eclipse Market-
ing Services about best practices in direct marketing to the Hispanic population. The Objective (Hispanic or not)…. “Ultimately, marketing campaigns –
Hispanic or not – are intended to appeal to the consumer, presumably with a value proposition that will make him or her buy your product. In that sense, a Hispanic and a GM campaign aren’t that different.” says Habib.
…and yet, they are Worlds apart….
68 HISPANIC NETWORK MAGAZINE
According to Habib, on the creative front,
the Hispanic campaign must speak to the cul- tural sensibilities of the Latino audience and not just be about the offer. “By customizing our message to their set of values, we will be more successful, and marketing budgets can be more efficiently spent’, she adds. Another major difference between the His-
panic and the General Market campaign lies in the segmentation process. There are many ad- ditional demographic and psychographic crite- ria that must be considered when doing His- panic marketing: acculturation level, language
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