A picture is worth ten thousand words and this picture can be worth millions of dollars for those companies that take the lead and address this trend head on. Marketing and Advertising was dramatically changed by the Web and now the Web has gone mobile. This is more visible and predominant among Hispanics and African-Americans as per the above graph.
Innovation doesn’t stop there. Several marketing tools and mediums have been touched by the digital hand. Take a look at the current state of media: magazines, newspapers radio and even TV have seen declines in readership and audiences in the last few years. Those audiences have moved online.
The commonly used TV spot has also been threaten. First attack came in the form of Digital Video Recorders (DVR) that allowed users to skip over commercials and more recently via branded content as brands develop new methods of engagement on the new social media platforms.
Technology will continue to improve and with that we will have smart phones that take more and more of the computer usage from home to the streets and wherever we go. That opens a world of opportunity for those marketers and entrepreneurs that are able to bring solutions to the challenges and opportunities presented by the mobile consumer.
Take a look at this article from the Pew Research Center on mobile and Hispanics. http://bit.ly/10ufLw0
This article brings front and center a trend that started a few years back and affected the food, fashion and music industries. I recall reading articles on fashion journals and learning how decisions on color patterns, fabrics and other were being influenced by Hispanics and African American tastes. Music is another clear sample. African Americans musicians and talent have dictated global trends in the industry. Most recently, there was a wave of Hispanic musicians that crossed over and gained appeal in mainstream America. Performances and songs by Ricky Martin, J-Lo, Shakira, Enrique Iglesias and others reached top positions on radio and TV play.
The latest study from Experian Simmons quantifies the influence that Hispanic lifestyle and culture have had on broader non-Hispanic communities in the U.S. Read more: http://ow.ly/ecgQu
Recent research released by the Association of Hispanic Advertising Agencies (AHAA) highlights the importance of the Latino market for these three categories. An important point in the report is that for every additional point increase in Hispanic marketing focus yielded a boost of about two-thirds of a point in average annual growth. In other words, if a company were to allocate an additional10 percent of ad resources to Hispanic media over five years, in general there would be an average increase of 6.8 percent in organic revenue.
One of the conclusions of the study is that the Hispanic market has moved from opportunity to a required corporate strategy for sustainable growth, particularly in the technology sector. In this discretionary category, Hispanic allocation is a significant driver to boost organic growth, particularly among companies that don’t have as revolutionary product innovation advances in their pipeline as iPhones or Google Android. Read more at HispanicAd http://bit.ly/MyxYId
This is the season when many of us plan summer vacation for the entire family. Children are off from school and we schedule our vacation around that time. In my case I took a few days off to join three of my brothers and their families who had taken a month off from our native Ecuador to travel along the East Coast of the U.S.
Their first stop was Orlando, Florida with a visit to the amusement parks in the area. Then they drove north along the coast, visiting the many states along the road. I joined them in New York for a visit to Niagara Falls, a place that I never visited during my 7 years in New York City. Upon our return to the big apple, we spend 7 days visiting the many attractions the city offers. My travel pattern fits in with the domestic travel patterns of Hispanics in their 30’s even though I belong to the baby boomer segment..
According to research from Experian Simmons, Hispanics 18 to 29 without kids are more likely to travel than those who are parents. 68% of this group does not have children, and 72% have traveled recently. This is quite different from Hispanics in their 30s, who are more likely to take a trip if they have kids: 62% have them have children, and 66% of them have traveled. To learn more about the travel habits of Hispanic Millennials, read this article at insight tr3s.
This is alarming! Latinos are 23% of the population 18 and under. The repercussions of this trend will manifest later in life and may include physical and emotional issues. We recently reported on the junk food ban from the Disney channels and that is an indicator that lack of proper diet and exercise are trends affecting the American public in general. Combine poor diets with no physical activity and you have a time bomb waiting to explode.
We applaud the pro-bone efforts by Totality (multicultural arm of Havas on behalf of The U.S. Forest Service and Ad Council. Read more.
The Rob I’m referring to is Rob Schneider and his friends are the cast of his show on CBS. The TV series with a cast of leading Latino entertainers was canceled by the network.
There is something wrong with the Latino community and interest groups when they cry for more representation in the media but then fail to support shows that got to air on national television. This show had a cast that was over 90% Latino and in English language. What happened?
My take, it’s not about the cast only, it is about stories and concepts that resonate among the largest possible audiences. Nielsen and the rating system have a saying. Then there is also the issue of the power that TV network’s czars have to cancel a show that may not resonate with their realities.
Read this article from the Huff Post for more information. http://huff.to/Ke2u6Y
When close to 20% of your universe is the fastest growing segment, adopts new technologies faster than other groups and its not completely assimilate into the larger majority, you have to pay attention and determine how any initiative that you implement in this group or decide not to include in your overall plans, will affect your bottom line.
If you are like me, you will do some research and get the facts. Well, Nielsen has done that for us and here are the key findings.
The Executive Summary of the report shows that:
- Latinos are a fundamental component to business success, and not a passing niche on the sidelines
- Rapid Latino population growth will persist, even if immigration is completely halted
- Latinos have amassed significant buying power, despite perceptions to the contrary
- Hispanics are the largest immigrant group to exhibit significant culture sustainability and are not disappearing into the American melting pot
- Technology and media use do not mirror the general market but have distinct patterns due to language, culture, and ownership dynamics
- Latinos exhibit distinct product consumption patterns and are not buying in ways that are the same as the total market
Read more: http://bit.ly/K8UTaw
Its refreshing to see brands evolving on their campaigns targeting U.S. Hispanics. The market itself has evolved around integration, technology, etc. This article by Lisa Arthur in Forbes provides you with valuable Hispanic research sources and builds a case for a Hispanic marketing strategy that runs the entire year and not only on Cinco de Mayo. Read more http://onforb.es/Jok9Ic
This story comes to us via Businessweek and reviews a recent report from Nielsen that focuses on the U.S. Hispanic market. The report points out the importance of this market for brands looking for growth and even though it recognizes that there is assimilation, it mentions that it is more sustainable. “The culture may evolve, but it will not go away.” (Monica Gil, Nielsen). Read the entire article http://buswk.co/HYyOrB