Friday, September 22, 2006
Hispanics have challenge in marketing to Hispanics
In the "duh" category for today is an AP story on a U.S. Hispanic Chamber of Commerce workshop on Hispanic marketing that outlined the challenges Hispanics are having in marketing to Hispanics.
The article says, "Hispanic-owned businesses are finding that just because they share a language doesn't mean they automatically know how to market effectively to their own. "
Why is this a "duh" issue in my opinion? Because, as I've mentioned numerous times, just being Hispanic is not enough. You still need to know a little something about how to market to Hispanics.
The fact that Hispanic-owned companies are finding this issue as a great challenge should be an eye opener to general market companies who think that they can effectively reach Hispanics by just hiring one or by just translating what they have to Spanish.
The article says, "Hispanic-owned businesses are finding that just because they share a language doesn't mean they automatically know how to market effectively to their own. "
Why is this a "duh" issue in my opinion? Because, as I've mentioned numerous times, just being Hispanic is not enough. You still need to know a little something about how to market to Hispanics.
The fact that Hispanic-owned companies are finding this issue as a great challenge should be an eye opener to general market companies who think that they can effectively reach Hispanics by just hiring one or by just translating what they have to Spanish.
Tuesday, September 19, 2006
Hispanic Advertising Trends Survey Released
The Association of Hispanic Advertising Agencies (AHAA) released a survey on trends and influential factors in U.S. Hispanic advertising over the past decade, as part of its 10th anniversary celebration.
Asking member agency principals about "events affecting their businesses and their projections of future investments by corporate America to reach the approaching $1 trillion in U.S. Hispanic consumer spending," the key insights were:
-- More than 90 percent of respondents indicated that they anticipate corporate ad spending targeting Latinos to increase in 2007 with more than 30 percent predicting budget growth of more than 10 percent.
-- 75.9 percent believe the finance industry will increase spending most significantly over the next five years followed by entertainment (58.6%) and pharmaceuticals(55.2%).
-- 93.5 percent said the 2000 Census data is considered the most significant milestone attributed to the growth of the more than $5 billion US Hispanic advertising industry.
-- More than 80 percent said the greatest challenge facing U.S. Hispanic advertising agencies persuading clients to invest more of their ad dollars in the Hispanic market, despite the overwhelming statistics on the growth of Hispanic purchasing power and population.
Read the whole release on PRNews Wire.
Asking member agency principals about "events affecting their businesses and their projections of future investments by corporate America to reach the approaching $1 trillion in U.S. Hispanic consumer spending," the key insights were:
-- More than 90 percent of respondents indicated that they anticipate corporate ad spending targeting Latinos to increase in 2007 with more than 30 percent predicting budget growth of more than 10 percent.
-- 75.9 percent believe the finance industry will increase spending most significantly over the next five years followed by entertainment (58.6%) and pharmaceuticals(55.2%).
-- 93.5 percent said the 2000 Census data is considered the most significant milestone attributed to the growth of the more than $5 billion US Hispanic advertising industry.
-- More than 80 percent said the greatest challenge facing U.S. Hispanic advertising agencies persuading clients to invest more of their ad dollars in the Hispanic market, despite the overwhelming statistics on the growth of Hispanic purchasing power and population.
Read the whole release on PRNews Wire.
