(Posted on Dec 11, 2015 at 03:51AM by One Big Broadcast ComproCoches)
Tags: Hispanic insights, marketing culturally to Hispanics, the Hispanic Marketplace
by Holly Pavlika
There is no doubt that Hispanics are a growing and important market for brands and retailers. For those looking to reach Hispanics consumers in 2016, below are five important thoughts to keep in mind from notable industry experts.
1. Sponsor brands that promote Hispanic “techies” and technical bloggers.
Rebecca Castrelon, online community manager, MXM: “According to Nielsen Consumer Insights, Hispanics are the largest group using mobile devices for any type of transaction, from banking to watching movies. Additionally, Hispanics have become ‘super consumers’ of mobile marketing, making them the most desired market for telecommunication companies. From Metro PCS to Boost Mobile and Verizon, these companies have increased their market share in order to reach this audience in 2015, a trend that will continue to grow next year, according to NAHP’s latest data, that shows that more than 49% of Hispanics are planning for change their smartphones in the next six months.”
2. Hispanic consumers will demand more from brands.
Tara Jaye Frank, VP, multicultural strategy, Hallmark Cards:“Hispanic consumers will begin to demand more from products, services and experiences. Underserved consumer groups tend to ride an expectation curve of sorts when it comes to brands. At early introduction, they may be delighted to get invited to the party. Over time, they desire more: ‘Do these parties play the music I like? Serve the food I eat? Speak my preferred language?’ The faster the Hispanic population grows, the less satisfied they'll be with a ‘nod,’ which is what some brand strategies and marketing campaigns currently deliver. What they really want — and will come to expect, no doubt — is a full embrace.
“Relationships are everything to this consumer, and relationships are impossible to establish without understanding, respect, and reciprocity. Brands will have to stop asking how they can toss Hispanics (or any other targeted population) a proverbial bone. Instead, they'll want to welcome Hispanics to the table, and not only as guests ... but as partners in building the future.”
3. Mobile data will allow for better targeting and tailoring of messages to Hispanic audiences.
Jordan Greene, principal at Mella Media: “Mobile will continue to dramatically improve the blunt instrument of Hispanic marketing in 2016. With better actionable data and targeting, mobile advertisers can begin to truly carve up the Hispanic audience into appropriate sub-groups, and tailor messages to evoke better results. So the Dominican market in New York can be addressed differently than Mexican audiences in communities throughout the U.S. Reliance on geography, content or language as primary drivers is over. We will be able to reach the targeted consumer behind the device. As Hispanic audiences tend to use the mobile phone as a primary Internet device more than the average consumer, they also provide back significantly more data. Converting those pieces into usable insights will be critical in 2016, and its subsequent targeting will finally enable marketers to reach the multiple micro-Hispanic audiences they have craved.”
4. Shift from big data to effective data when targeting Hispanic consumers.
Deigo Figueroa, SVP, director of strategy and participation, Lapis USA: “While in the past two years the concept of big data has trickled its way into Hispanic marketing forums and conversations, 2016 will see a more developed understanding and application of the mobile data tools and resources amongst the most mobile-forward demographic. With not only more, but also better and more detailed information, an increase of the marketing dollars allocated to mobile for the segment is imminent.
“The challenge in this new context will be to translate the increased interest and investment into better, fine-tuned programs based on the segment’s behavior and detailed contextual information that at the same time will allow marketers to get comprehensive data and better measurement indicators that so far have been the Achilles heel in Hispanic marketing.”
5. Online video is the most effective medium for Hispanic content.
Maria Goycoolea, social engagement supervisor, MXM: “Hispanics spend most of their leisure time at home consuming content. Aside from broadcast TV, Hispanics Millennials — who we all know are one of the predominant cohorts among Hispanics — are more likely to also utilize online video sources or streaming services for content consumption. Nielsen also states that ‘Latinos stream 6 hours and 15 minutes of online video per month, 60% more than non-Hispanic users.’ To remain being relevant and win U.S. Hispanics, marketers and brands will put more emphasis on video content specifically targeted to and designed for Hispanics.”