Monthly Archives: January 2010

Social Media Growing as a Marketing Tool

According to a nationwide telephone survey in 2009 of the Inc. 500 list, under the direction of researchers Nora Ganim Barnes and Eric Mattson, social media has penetrated parts of the business world at a tremendous speed. It also indicates that corporate familiarity with and usage of social media within the Inc. 500 has continued to grow in the past 12 months.

Key findings from the study are that:

  • The technology that continues to be the most familiar to the Inc. 500 is social networking with 75% of respondents in 2009 claiming to be “very familiar with it” (compared to 57% in 2008). Another noteworthy statistic around familiarity is Twitter’s amazing “share of mind” with sixty-two percent of executives reported being familiar with the new microblogging and social networking platform
  • While social networking and blogging have enjoyed growth in actual adoption, the use of message boards, online video, wikis and podcasting has leveled off or declined. The addition of Twitter (considered by respondents to be both a microblogging site and a social networking site) in the latest study shows that 52% of the Inc. 500 companies are already using this tool for their business
  • 43% of the 2009 Inc. 500 reported social media was “very important” to their business/marketing strategy. And 91% of the Inc. 500 is using at least one social media tool in 2009 (up from 77% in 2008). In addition, 36% having implemented a formal policy concerning blogging by their employees.

Read the entire article.


The Importance of the U.S. Hispanic Market

According to a number of reports, the economy will start to turn around this year. Many companies have made cuts related to the recession and will have to increase budgets and personnel to support the growth. A strategy that will pay by itself is investing in the fastest growing markets in the U.S.

Here are some highlights:  21 percent of U.S. moms are Hispanic, and in key markets that percentage is even more dramatic. In New York, 33 percent of all moms are Hispanic. In Dallas, that figure now hits 32 percent. And in Los Angeles, it’s nearly half at 47 percent.

Marketers that need to reach young men, take note. Over the past five years, the Hispanic male 18-34 population has grown 23 percent vs. just 2 percent for non-Hispanics. Read the entire Adweek  article here.


Hispanic online growth surpasses mainstream

I found this article last year and as we start 2010, we see more an more information confirming this growth.  Community, entertainment and multimedia rank high in among young Hispanics.
Posted by Elena del Valle on June 24, 2009
Hispanics’ share of total time online per category
Hispanics
For companies targeting online audiences Latinos represent a booming market with continued potential for growth. As of February 2009 there were 20.3 million Hispanics or 11 percent of the total United States online population and a record number, according to comScore, Inc., a company that measures the digital world. As a greater number of Hispanics went online in the past year, the U.S Hispanic Internet audience grew faster than the total U.S. online population in terms of number of visitors, time spent and pages consumed.
At the same time, some believe effective targeting of the Latino online market requires knowledge and finesse to push the hot buttons that will prompt loyalty and purchasing responses from the highly diverse and demographically young audience. The days of viewing ethnic markets through a uni dimensional single scope are past. Just as translating materials as the sole method of addressing the highly desirable Hispanic market, online and offline, is no longer considered sufficient or in some cases even appropriate (when targeting English dominant Latinos for example).
“It’s well known that the Hispanic market is a growing and increasingly important segment to advertisers and marketers,” said Jack Flanagan, executive vice president of comScore Media Metrix. “However, any business attempting to effectively reach this segment needs to understand the behavior of the U.S. Hispanic online consumer as a fundamental component of their marketing and media strategies.”
Some are convinced the Hispanic market is diverse and distinct from the general market. Given the increasing number of new Latin consumers and their desirable purchasing habits even if that market segment requires extra attention, dedicated or customized campaigns it may prove a worthwhile investment for savvy businesses in the long term.
“As most people know, US-H (US Hispanics) currently represents 15 percent of the total US population and it is estimated to grow up to 20 percent within the next 10 years, half of them are online and this number will only grow. The fact is that even thought we are still a minority, we are definitely a minority that can not be underestimated, not only because of the massive number of potential costumers that we represent, but because our habits significantly differ from those of the US General market users, and more importantly, because our purchase behavior is way more apealing than the US General market users,” said Joel Bary, chief executive officer, Latin Medios.
“We, the online Latinos, have a higher household income than any other online users group in the US, and simply put, we buy more than any other group, so we make a very interesting and potential costumer base that can not be ignored. The marketplace is no longer a single group one, it is now composed of several major groups that will need to be addressed in a special and direct way, other ways, a segment of this marketplace will not respond to the message and will be left araw to be picked up by the competition.”
In 2009, Hispanics’ time online increased 6.9 percent (3.9 times faster than the total U.S. online population), while total pages consumed grew 6 percent (3.6 times faster than the total U.S. Population).
“The Hispanic online market is growing faster than the general market, not just in terms of gross number of users but also in other measures that are important to marketers like time spent online. Advertisers are taking notice too: While categories like Automotive, Wireless, and Credit Cards have been on board since the early days of Hispanic internet, more recently we’ve noticed growth coming from other important categories like Food, Retail, Insurance, and Personal Care Products. That’s especially important now that the automotive and credit card categories are down,” said Carlos Pelay, president, Media Economics Group.
“Just in the Food category, for example, we’ve seen some major companies making their first forays into the Hispanic online market in 2009. Companies like Birds Eye Foods (BirdsEyeenEspanol.com), General Mills (”Nature Valley”), Hershey (”Hershey’s Kisses” sweepstakes on Univision.com) have advertised on Hispanic sites for the first time this year. Significantly, these three companies are running Spanish-language campaigns on Spanish-language Hispanic websites.”
Researchers looked at the site categories where Hispanics spent an above average share of their online time. The most popular categories were Community – Teens, where U.S. Hispanics accounted for 18 percent of total time spent in the category; Gaming Information at 13 percent; entertainment and leisure including Radio (13 percent), Multimedia (12 percent), Discussion/Chat, Instant Messengers (11 percent) and Music (11 percent)

CES 2010

I was not able to make it to Vegas this year so I am relaying on the posts from Dave Morgan from MediaPost.

Early Report From CES
by Dave Morgan, 8 hours ago

I’m in Las Vegas today, attending the Consumer Electronics Show. The city is crawling with folks fascinated with the latest in consumer devices, from gadget geeks that hang on every word of the Wall Street Journal’s Walt Mossberg, to the digitirati trying to find the next big thing. The show officially kicked off last night with a keynote from Steve Ballmer touting Microsoft’s tablet PC software — and it will be in high gear for the next several days, starting with the opening of the exhibit floor this morning. It’s still early to know what big stories will come from this year’s show, but here are some of the themes that have been buzzing around so far:



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