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Transcript of Hispanic Marketing
How many are there?
Market Targeting Strategies
Companies have to go beyond only targeting Americans and create products that are geared toward Hispanics
“Celebrating our fans’ passion for good flavor and good music, we’re inviting them to guess the ingredients of the Wendy’s Secret Sandwich and win a trip to one of Puerto Rican sensation Tito El Bambino’s concerts,” Jesus Valdez, Wendy’s director, Brand Management for U.S. Hispanic Markets, said in a press release.
Go RVing launched an advertising campaign geared towards the Hispanic market in the US
More specifically, they were targeting English speaking Hispanics with high income
Hispanics are very family-oriented and eager to travel and visit their loved ones
They are also very price conscious and seek the best value... Which Go RVing promises to give them.
They are also willing to splurge if they find the experience to be "worth it"
The "AWAY" Campaign
Companies are beginning to notice the tremendous opportunities that this demographic represents
They are finally investing significant portions of their budget to aim it towards capturing the attention of the Hispanic market
Hispanic advertising agencies are becoming bigger and more in demand because they help businesses understand the differences in the culture and authenticity that is desired.
Hispanics are not only culturally different then the general
markets and other ethnic groups, but they are also naturally diverse amongst each other
-Mexico, Venezuela, Ecuador, Dominican Republic, Puerto Rico, Cuba, Panama, Uruguay....
1960s - less then 6 million (3.24%)
Projected to reach 132.8 million (30%) by 2050
Besides thinking about the future, lets worry about right now...
What has this dramatic growth caused?
2012- 52 million (16.7%)
Forming the largest minority group in the 2012 census
Tenitsa De La Cruz
Until recently, the majority of companies that were founded and headquartered in the US were selling generic products to US Hispanics without doing anything to cultivate them.
The way that the economy has been slowing down, many see this as an opportunity to use this as an advantage and emerge in newer markets.
Research found that many Hispanics favor fragranced household products, which they tend to associate with cleanliness.
Someone from Spain
People from Spanish-speaking countries
-All of the countries in North, Central, & South America
-DR, Venezuela, Mexico, Guatemala, Honduras, Argentina
-Comes from the term
-All of the countries from Latin America
-Brazilians (many of them do not claim this)
- Haiti, French Guiana, Martinique
Common Misinterpreted Terminology
In 2004, $3.9 billion were spent toward advertisements geared toward hispanics
35% of all Hispanics are under the age of 18, 32% are between 18 and 35 years old -- meaning that you are looking at a very young market with the median age of 25
- 2003 - $575 billion
- 2012- $1.6 trillion
Within themselves, Hispanics can be divided into many groups
Of course, Americans can also be divided into various groups , but Hispanics can be further divided depending on their country of origin
Segmentation is extremely valuable research tool
It is not good enough to just say "we are going to target
Hispanic market" because that is too general
Hispanic market is composed of immigrants and 3rd generation Americans, Spanish dominant Hispanics and those who only speak English
Different forms of speaking Spanish
Immigrants vs US born
In order for a company to correctly target and reach Hispanic markets:
-Identify the best business opportunities, from a Hispanic consumer segment perspective
- Develop the best fit between Hispanic consumers and their brands
-Design the most meaningful marketing programs and
partner with the most relevant external marketing partners
-A sophisticated knowledge of the US Hispanic market, and the different segments which will help avoid common pitfalls
In 2012, $1.2 trillion were spent
Puerto Rican / Venezuelan Mistolin
Clorox research concluded that the product categories
in which Fraganzia competes, which included rubbish bags and charcoal, Hispanic consumers accounted for more then 60% of the increase in sales in the first year alone.
Began importing Abuelita hot chocolate from Mexico in 2005
They have now began new innovations to ensure that they keep their brands "relevant" to the large increase of Mexican-Americans
The advertised their hot chocolate as a quick-stir power for busy consumers who do not have time to wait up to 15 minutes to make a traditional hot chocolate
A few years later, they then created La Lechera, which boomed in the industry
It is a condensed milk that Mexicans, usually,
used for their cakes as an added ingredient that gave it texture and made it very sweet and delicious
They have recently created small baking kits for Mexican-style cheesecakes
This was more then the gross domestic product of all but 13 national economies (According to the University of Georgia's Terry College of Business)
2.3 million Hispanic users are active on Facebook every month
Facebook relocated their VP of Facebook Latin America
to Miami to assure that responsibilities for the US Hispanic market are met
60% out of them were active 6 out of 7 days
Facebook wanted to ensure that they were able to reach out to those consumer
So what did they do?
Clorox launched $2 million TV, radio, online and product integration campaign for Fraganzia
The campaign is entirely in Spanish, with no marketing to non-Hispanics
Clorox ranks as the 44th biggest Hispanic advertiser, spending about $32 million in 2011
The world’s biggest consumer goods group by sales, based in Cincinnati, it says it has more than 30 brands that are “active” with US Hispanics.
Among them, they have a scented Gain dish washing liquid.
P&G found that a powerful soap that makes plates sparkle is not enough for Hispanic consumers; they want a cleaning product that smells good, too.
Procter & Gamble
They have tried to "Hispanicise" some of its US brands.
As more Hispanics are beginning to obtain higher educational degrees, there are able to get better employment opportunities and in return have much more buying power.
Spent by Hispanics alone
Their country of origin then breaks down further
For many businesses, all they see is ...
More subgroups means more products that they can change to adapt them to different consumers
Place advertisements and commercials in the most popular Hispanic networks, radios, and print publication
Both of these products became great successes in the US since nothing like them had ever been seen before
Clorox introduced the heavily scented "Fraganzia" cleaning range in the US last year.
They spoke to 600 Hispanics and asked them how exactly it is that they clean and what kinds of products they like to use and would like to purchase.
Up until this dish soap was created, Gain had nothing similar to it a all.
My presentation solely represented the impact that Hispanics have had on US companies, but the growth in many other ethnic groups have also caused similar changes but directed towards other directions.
Don't be close-minded!!
There, Facebook opened up a new office.
They also signed a contract with Univision to create better ads that target Hispanic Facebookers
Largest American Spanish language broadcast network
Last December, New York Times reported that Quaker Oats was starting a new campaign geared towards Hispanics who are bilingual, but use Spanish as a dominant language
They partnered with many large Spanish-language television networks and launched their debut TV ads last December 31st.
They also sent out coupon booklets that were delivered to ZIP codes that had large Spanish-speaking communities.
Justin Lambeth, chief marketing officer said
"It is the first time Quaker is doing an integrated campaign for a Hispanic audience."