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One more reason I'm sorry I didn't make it to SXSW

I came across this post on a PepsiCo blog that gave me insight into another great presentation at SXSW I missed. “Marketing to Spanish Speakers Digitally” covers the realities of marketing to Hispanics:

The purchasing power of ethnic groups is north of $2.3 billion – hence the reason multicultural marketing is currently trending in marketing department meetings. Some companies are even hiring cultural experts (a trend likely to increase in the next five years) and developing niche marketing groups to target each segment properly. But while there’s talk about its importance, companies are not taking any new or “real” action (i.e. spending money) to attract the ethnic dollar, especially Hispanics. According to a 2010 Orci survey sent to 9300 senior marketers for Fortune 500 companies, the majority of respondents recognize the impact of the Latino market, yet “82% have no plans to begin or increase existing efforts aimed at Hispanics in the next 12 months”.

This is pretty disturbing news. I’m not a marketing expert, but shouldn’t we be paying special attention to a group that is currently 1/6 of the global population?! And wouldn’t it be pertinent to understand the habits of a culture that will be the majority of the population now, as opposed to later?

Latinos are a very diverse group, one that appreciates authenticity and trust when being marketed to. They are also the largest consumers of digital media. A Pew Internet & America Life Project report revealed over 53% of Hispanics use digital devices. So, how can we engage this group using these new digital tools?

One of the presenters for this was Joe Kutchera, author of “Latino Link: Building Brands Online with Hispanic Communities and Content” (now on my reading list).

Sources:

About Sandra Fernandez

Sandra Fernandez is a professional communicator, tech enthusiast, book lover, and blogger. You can find her main blog at SandraSays.com and more of her writing at HispanicHouston.com.

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