Missing the Mark: Hispanic Marketing Makes the Money

 

I know I’ve written about the growing opportunities in Hispanic marketing before, but I really want you and your clients to get ahead of the curve on this! Two new surveys just came out with some great tidbits you can use to pitch. The Census really is spurring much discussion and you need to be part of it.

The most interesting finding from Orcí is that, “Hispanics are the heaviest users of wireless access through mobile phones and laptops than any other ethnic group. In addition, close to 80% of Latinos engage in some kind of online socializing.” But, of the 9300 senior marketing and advertising executives surveyed by Orcí, 78% do not use social media to engage Hispanics at all! And, as of February (when this survey was conducted), 82% of respondents had no plans to begin or increase existing efforts aimed at American Hispanics in the next 12 months.

It seems like even though everyone knows that the Census results will show the Hispanic population rising to 50 million (translating to $1 trillion in buying dollars), no one wants to take a chance on advertising to this group. You should take advantage of this apathy! Here’s where Latinos spend their money (according to Nielsen), so hit up your clients in these categories:

• Hispanics tend to spend more on categories for babies and children. Hispanic households represent 11.8% of CPG total spending, but 16.6% of disposable diaper sales.
• Latinos tend to spend more in traditional mass merchandise and warehouse clubs.
• This ethnic group tends to spend more on food consumed at home.

Now, for you TV people, Nielsen also found, “The Hispanic TV audience in the U.S. is growing faster than the TV audience for the total population, showing a continued increase of Hispanic TV homes (2.3%) compared with total U.S. TV homes (0.3%) for the 2009-2010 TV season.”

This is where Latinos are expected to make the most impact, according to Orcí’s respondents:

• 89% believe Latinos will somewhat or significantly impact American taste in foods in the next 5 years
• 87% believe Latinos will impact fashion and beauty
• 82% expect Hispanics to impact entertainment
• 78% believe Hispanics will impact technology/communications

[Source: Loechner, Jack. "Half of U.S. Advertisers Missing Trillion Dollar Hispanic Market." Research Brief from the Center for Media Research. March 23, 2010.]