New Industry Alliance to Accelerate Effectiveness of Marketing to Hispanics

A consortium of six companies announced today a cross-industry study to drive thought leadership in marketing to Hispanics. The consortium members include IRI, Latinum Network, Univision, Telemundo Media, UM, and Rentrak. The consortium will enable marketers to maximize the multi-platform impact of advertising to Hispanics by developing best practices around strategy and performance measurement. The consortium’s mandate is to help marketers, advertisers and retailers develop effective marketing strategies to best serve Hispanic consumers.

U.S. Hispanic consumers are a powerful and growing economic force with a buying power in excess of $1 trillion, driven by a population 56 million strong that is expected to grow to 131 million people by 2050. Despite the tremendous potential of this market, less than 5 percent of current media is devoted to advertising, representing a spending gap of approximately $22 billion. The consortium aims to promote Hispanic advertising, while creating learnings that will inform Hispanic marketing strategy for years to come.

The consortium is unique in its breadth and scale in understanding the impact of marketing activities geared toward Hispanics and has two primary goals:

    To develop a scorecard of brands’ performance and traction with Hispanic consumers relative to their peers and industry
    To enable members to maximize the impact of advertising targeting Hispanics by building Hispanic brand strategies and a “total market” approach that balances general market and multicultural investments

Highlights of the Hispanic Marketer’s Playbook will include:

    Efficient Hispanic reach generation strategies
    Hispanic engagement and impact through social and mobile media
    Synergy and halo of Hispanic media with promotional levers
    Impact of dubbed and translated commercials versus original Spanish language creative effects
    Show integration strategies and effectiveness
    Creating Hispanic research and metrics frameworks for success

The study will leverage IRI’s proven Hispanic Mix Drivers platform—a powerful marketing-mix modeling platform that incorporates robust statistical techniques in modeling Hispanic sales trends and quantifying Hispanic marketing lifts. The modeling rigor is balanced with heuristics derived from a massive industry benchmarks database collected from a multitude of consumer behavior studies conducted over a 10-year period. The modeling engine is further enriched by cross-media audience data through the consortium alliance and IRI’s network of resources.

Understanding that branded entertainment is an important lever in Hispanic media strategy, the consortium will also leverage Rentrak’s iTVX® branded entertainment measurement service that provides users the precise value of a brand’s appearance in media content, by combining second-by-second viewing insights, brand exposure analytics, social media listening and consumer behavior intelligence.

The study will enroll participants in April and through June 2014. Participants will receive results on their brands in August 2014 through in-depth review sessions. Macro insights distilled from across all participating brands as well as the Hispanic Marketing Playbook will be unveiled at a capstone industry event targeted for the fall of 2014.