CMOs: 3 tips to engage the Hispanic market

If you are a CMO targeting the Hispanic market, I've found some tips to help you reach this often overlooked audience. As a graduate student in Northwestern-Medill’s Integrated Marketing Communications program with an interest in Hispanic/Latino marketing, I found two articles which highlight the best ways to impact and engage the Hispanic market.

Lisa Gevelber’s article Your Next Big Opportunity: The U.S. Hispanic Market emphasizes Hispanics strengths in numbers. As Vice President of Google’s Americas Marketing, Gevelber says Google is paying attention because Hispanics have buying power; $1.4 trillion to be exact. Although Fortune 500 companies are aware of the numbers, most CMOs don’t have a marketing strategy to attract consumers.

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Writer Zubair Talib tells us why marketing strategies fail with Hispanics in his article 3 Reasons Your Brand Content Won’t Connect With Hispanic Consumers. Translating content into Spanish and expecting to attract bilingual consumers won’t work. Marketing to the Hispanic population takes money, research and dedication. Companies like T-Mobile and Procter and Gamble make diversity front-and-center on their websites and advertisements. Perhaps that’s why P&Gs net profit rose by 62% in the last quarter of 2015.

As a graduate student in Northwestern-Medill’s Integrated Marketing Communications with an interest in Hispanic/Latino marketing, here are three action items I recommend you consider when approaching the Hispanic market:

• Mobile matters - Most hispanics see their phones as their “first screen.” They are more likely to purchase the latest phones, download the latest apps and stream the latest content. Advertising on popular mobile sites will yield instant results.

• Spanish? English? Spanglish? - More than a million Hispanics get connected and stay online per year. Visit Universal Latino or Mitú to understand the art of how the languages mix. Most Hispanics speak Spanish in the home, English at work and like their entertainment in both. 

• Latino lifestyles matter- Create content that speaks to Hispanics. This group sees themselves as everyday people: hardworking and successful with big dreams. If you are looking for a spokesperson for your product, consider a sitcom star or a singer who radiates positivity. Most importantly, make sure that your spokesperson’s values (on stage and off) match your company’s.

As you develop your Hispanic marketing programs remember that listening to the needs and desires of this audience may cost you money, but your strategy's authenticity will pay off.


Sarahmaria Gomez is a Medill/IMC graduate student with a background in journalism. I am a native of Santa Fe, New Mexico and I love traveling to Latin America. You can reach me on twitter @sarahmawoman.

Automotive Marketer: 3 Ways to Leverage the Millennial Consumer

As an Automotive Marketer, you have probably heard that Millennials have money and want to spend it, specifically on cars! In this marketplace, it is essential to understand the Millennial consumer and begin tailoring marketing messages to this newly financially powerful group. As an Integrated Marketing Communications graduate student at Medill Northwestern, I’m constantly learning about new marketing trends, especially in digital marketing, and I have identified two articles that can help you understand this consumer.

In a news release published by Automotive News, TrueCar: New Vehicle Purchasing Power of Millennials Will Reach $135 Billion in 2015, Millennials are out in full force. TrueCar recently stated that the economic situations of Millennial consumers are improving, which translates into more purchasing power, especially in the new vehicle market. Contrary to previous beliefs, Millennials like cars and enjoy what they symbolize (independence and freedom). Millennials also drive more than their predecessors and are well represented (24.9% in 2014) on TrueCar’s mobile marketplace. Their presence is expected to grow in 2015 and TrueCar equates their new vehicle purchasing power to $135 billion in 2015.

www.thetruthaboutcars.com 

Dan Schawbel, in his article for Forbes, 10 New Findings About The Millennial Consumer, also examines Millennial purchasing. Based on his article, the "Millennial profile" would look like this: there are 80 million Millennials in America and traditional forms of advertising are no longer effective. Millennials are not influenced by advertising because they do not find it authentic; they need to trust the source of information. Essentially, individuals win over brands. Millennials enjoy looking for reviews and consulting with blogs before making purchases, again authenticity is king. However, they are not abandoning brands, but rather, want to connect with brands over social media and be responded to. 60% say that they would consider themselves brand loyal to the brands they are currently purchasing. However, one of the most important statistics for you is that 71% of Millennials want to buy a car. They also want to be part of the creative process and co-create products.  

So what does all this mean? After reading these articles and with my marketing experiences from the Northwestern Medill IMC program, I came up with 3 action items that I feel would really allow you to connect to this consumer. 

• Get Social - Having a social presence is not enough, you need to engage with your consumers on a personal level; be authentic, not an automated robot.
  
• Protect Your Reputation- Any social media mishap can go viral, manage your platforms well and give the bloggers something good to talk about.
  
• Avoid Assuming Homogeneity- A 20 year-old Millennial and a 30 year-old Millennial are not cut from the same cloth; understand their needs and tailor your messages to the audience that you want.

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Millennials have enormous buying power and understanding how to leverage that power is important for any marketer. Millennials want vehicles and by using the three suggestions above you can better understand this very powerful market.

Agnes is an IMC student at Northwestern Medill School of Journalism specializing in digital marketing. She has duel bachelor’s degree in Media Communication Studies and Interdisciplinary Social Sciences from Florida State University. Contact Agnes through Twitter @Agnes_Wasilewsk or Linkedin.