We are a nation of consumers. In fact, we’re an entire world full of consumers. We operate a global economy, which thrives on the simple fact that people either need or want to buy stuff. Some of the stuff you buy is necessary, while most of it isn’t, but at the end of the day the world seems to revolve around consumerism (for better or worse).
To say it has be an interesting past few months for the healthcare and wellness industry would be the understatement of the year. The consumer health and wellness space is evolving and shifting at a rate and level never seen before. Of course, the rollout of the Affordable Care Act is a big reason why. But, perhaps more importantly, it is the part technology is playing. The consumerization of technology has propelled massive changes that have created a newly empowered consumer more involved and in charge. And it’s causing major disruptions with how to target, reach and engage with these empowered consumers to gain their loyalty, trust and business.
To improve planning, enhance performance and optimize spend, the most effective marketing organizations inject data and analytics into every phase of their marketing process. Here are six essential practices that best-in-class marketing organizations employ to become more data-driven — and, in turn, make better, more profitable decisions.
What will make you successful in 2014 and beyond? Presuming digital continues to pervade — which it will — the environment will favor marketers who are not only smart and deliberate, but can adapt and pursue serendipitous shifts and opportunities.
Success will depend evermore on agility.
Here are key areas where you should put your organization to the “agility torture test”:
The line between Black Friday and Cyber Monday is blurring, as many U.S. consumers are going online for holiday deals on the biggest shopping day of the year for brick-and-mortar retailers. While shopping tendencies among all consumers didn’t shift dramatically between 2011 and 2012, there were some significant changes among multicultural consumers.
Hispanic and Asian American segments are leading the current job recovery as indicated by positive Labor Force growth, Employment, and decrease in unemployment (negative numbers in chart). While White Non-Hispanics are leaving the Labor Force instead of staying as other Multicultural segments and have caused a rapid reduction in the labor market. By Carlos Santiago / Santiago Solutions Group
Senator Max Baucus (D-MT), Chairman of the U.S. Senate Finance Committee, released his discussion draft of tax reform legislation that includes a provision that will, if enacted, severely impact the economy and lead to significant job loss. This provision would allow advertisers to deduct only 50 percent of all advertising expenses in the first year and amortize the remaining 50 percent over the next five years. Advertising currently is treated as a fully tax deductible ordinary and necessary business expense.
United States consumers, who are “addicted to speed” and often willing to pay more to get it, toggle between Wi-Fi and fourth-generation (4G) wireless technologies to get the fastest possible connection for their mobile devices. Deloitte’s third edition “Global Mobile Consumer Survey” (GMCS) offers insight into consumer purchasing habits, wants and trends in the U.S., with a focus on mobile devices, technologies and services.
Virtually every week, there is another story about major marketers putting their media agency in review. Most of the reviews these days are driven by price, not performance. Marketers — through their procurement officers — want lower media prices, and they want to pay lower media agency fees. Certainly, marketers and their media agencies also spend a lot of time on media performance, but it seems that the pendulum has swung a bit too far to the cost control side lately.
As the most anticipated week in Latin music unfolds, the city of Las Vegas fills up with celebrities, international media crews and hundreds of marketers from around the country who gather for the 14th edition of the Latin GRAMMY Awards. By Lili Gil Valletta, Cofounder XL Alliance, Business & Politics Media Contributor
Univision Communications has offered an interesting infographic regarding the importance of the US Hispanic Social Power.
Data is the lifeblood of marketing, yet marketers are extremely frustrated with their business information. There is a growing disconnect between what marketers want and need from their data and what they are actually getting, according to a new report by Domo, a cloud-based venture helping CEOs and other executives transform the way they manage business and get more value from existing investments in business data.
At the recent 2013 Hispanic Retail 360 Summit, a cross-channel conference, CPGs, retail experts converged to share insights on successful programs. There was unilateral agreement that now is the time to act strategically on the opportunities to approach the Hispanic and non-Hispanic consumers in unison. By Carlos Santiago / Santiago Solutions Group
As the discussion continues regarding the viability and implications of the “total market” approach embraced by so many major brands at the ANA Multicultural Marketing conference in early November 2012, I came across an interesting perspective from the folks at ReachingBlackConsumers.com By Jose Villa / Sensis
Latino influence in the US keeps growing one cultural example at a time. The Wall Street Journal published on Friday November 1, 2013 an article entitled “No Bones About It, Day of the Dead Is Finding New Life.” The article talks about a trend among non-Hispanics, particularly in areas of heavy Latino presence like California and Texas, who now set up altars to their dead relatives in different locations. An interesting example is that of a woman in Oceanside, California, who created an altar to her father in the trunk of his car. By Felipe Korzenny, Ph.D.
A Broken Bargain for LGBT Workers of Color examines how LGBT workers of color face unique challenges related to their race and ethnicity and their sexual orientation and/or gender identity. In particular, LGBT workers of color are hindered by three major barriers: educational barriers; hiring bias and on-the-job discrimination; and unequal pay, benefits, and taxation. As a result, LGBT people of color are some of the most disadvantaged workers in the United States—and face extraordinarily high rates of unemployment and poverty.
Lapiz USA was recently recognized as the U.S. Hispanic Agency of the Year at the 2013 El Ojo Awards in Buenos Aires, Argentina. The network won a total of seven honors – one Gold, four Silver and two Bronze awards at the ceremony. The highly prestigious Agency of the Year recognition came just after Chief Creative Officer Laurence Klinger was honored as the U.S. Hispanic Creative Director of the Year.
LEGISLATIVE ALERT!!! Last month we reported on indications that, according to AdWeek, some in Congress are thinking about revising the tax code to eliminate, or at least seriously reduce, the deductibility of advertising expenses. We have a follow up.
Facing universal skepticism from consumers and stiff competition from a sea of competitors, how can a brand differentiate itself to win a loyal following—or at the very least, to prove itself worthy of its customers’ time? It boils down to two essential elements: trust and dynamism—the consumer’s perception that a brand has delivered on the promises of the past while simultaneously helping lead the way to a better future.
Pin it, scan it or share it – operating in a digital world has become second nature for most shoppers today, and retailers are taking full advantage of it. The use of social media platforms and mobile devices is exploding, and for millions of consumers there’s no doubt that this digital revolution is here to stay. With the understanding that this new path to purchase offers up a unique engagement opportunity, retailers are taking over the social scene, and shoppers are reaping the benefits. In this new modern retail environment, the shopping experience has never been quicker, easier or more interactive.
