Quit Defunding Your Hispanic Marketing
At a moment when brands are reflecting on their relationships with multicultural consumers, it’s a great time to talk about something that’s been happening in multicultural marketing for the last decade or so: it’s time to quit defunding your multicultural marketing. What we’ve seen in the Hispanic market, specifically, is that brands have moved to reduce spending under the guise of the Total Market Approach. Granted, we’re all being asked to do more with less. And budget cuts are a part of our reality. But I’m here to show you how to grow your market share and spend your ad dollars more effectively by committing to the Hispanic market. By Pete Lerma, CEO & Co-Founder LERMA
Gonzalo Del Fa, president of Group M Multicultural and chairman of the Culture Marketing Council (CMC), delivered the opening address at the 18th annual Hispanic Television Summit on Tuesday (Sept. 22), declaring that “total market is totally dead.” By Joe Schramm, Schramm Marketing Group
The terms Hispanics in the United States use to describe themselves can provide a direct look at how they view their identity and how the strength of immigrant ties influences the ways they see themselves.
I often get asked whether brands should use Español or English to reach U.S. Hispanic consumers. The answer is both or a mix, but it’s more complex than just language. Latinos are one of the most diverse minority groups in this country — the market includes some 20 national identities. While we enjoy similar values and traditions, understanding cultural nuances affords brands an authentic connection to us, regardless of language. By Jorge A. Plasencia
2020 is the year when the majority of all Americans under seventeen years old will be from a minority background, a process that will culminate with a so-called “minority-majority” population by the mid-2040s. These demographic changes will bring about a significant transformation to Corporate America, and during the next few months, I will discuss some of these consequences, in each article targeting one specific area of our business environment. By Isaac Mizrahi – Co-President of ALMA
Covid-19 has changed the developed markets of Europe and the US more quickly and more dramatically than what would have been imaginable during the early weeks of 2020. It has changed how and where people spend their time, what they think and feel, and it has spurred massive shifts in what people buy and how they buy it.
Every night, as 5 full time virtual students/workers get ready to take their car out for a spin, I think the auto industry is really missing the growth of the Hispanic consumer. I did say 5 adults… 4 cars… one house… and during COVID our cars are our escape strategy. By Ana Ceppi
While this year’s Emmy Awards had a 33% increase in Black nominees, there were still many groups who were underrepresented or not recognized at all. To mark the importance of such recognition moving forward, ANA’s Alliance for Inclusive and Multicultural Marketing – AIMM – partnered with Billy Porter, Lin-Manuel Miranda, Daniel Dae Kim, Isis King, Jamie Chung and Nicole Scherzinger to create a PSA challenging the entertainment industry to increase diverse and accurate cultural representation in programming and advertising. An extension of AIMM’s #SeeALL movement, television viewers are being driven to participate through a dedicated social campaign.
As the leading organizations representing global brand marketers and the digital media and advertising industry, we welcome your decision to delay the proposed policy changes for Apple’s Identifier for Advertisers (IDFA) for iOS 14 until next year, and we request an urgent meeting to ensure we use that additional time to launch a collaborative process to address widespread questions and concerns around those upcoming changes.
In the second quarter of 2020, based on MAGNA’s analysis of media owners financials, advertising revenues dropped by -17% to $46bn.
Hispanics represent 18.5 percent of the population in this country, but just 4 percent of the executive ranks.
In this research brief, Stanford Latino Entrepreneurship Initiative’s research highlights the ongoing impact of COVID-19 on Latino-owned businesses. We followed up with the same group of Latino-owned businesses that took our survey in March and also surveyed a larger sample of 7,000 Latino and white business owners.
As if three simultaneous pandemics (a health-related, the social tension of racism and inequality and the global economic recession) weren’t enough, over the last ten years or so, our industry has gone through a “pandemic“ of its own. This “virus” has affected mainly multicultural marketing and branding, and ultimately, companies who have suffered from sales, their share of the market, and other KPI’s declines. It is known as “Total Market” and it’s both dangerous and damaging! The main symptoms are indifference, lethargy, laziness, shortsightedness or even blurry vision, which results in overall brand weakness and connection fatigue. By Luis Miguel Messianu Founder-Creative Chairman-CEO at Alma
Business must now decide how to manage three intertwined issues: Covid-19 and the ensuing economic downturn; the necessity of action on diversity, equality, and inclusion; and the election, which is prompting deep partisan divides.
In 2019, the poverty rate for the United States was 10.5%, the lowest since estimates were first released for 1959.
The Chief Marketing Officer (CMO) Council, produced in partnership with Cision, published a new report – Bridging the Gap for Comms & Marketing: Building Cohesion in the Age of Customer Disruption. The new report details the best practices and technologies for overcoming the challenges that brand leaders face when aligning marketing and comms teams.
The legacy award of the annual Hispanic Television Summit is the Award for Outstanding Achievement in Hispanic Television, presented by Broadcasting & Cable and Multichannel News. This year’s recipient is Diego Luna, an actor, director and producer for theater, film, and television. Since 2018, he has starred as drug cartel leader Miguel Angel Felix Gallardo in the wildly popular Netflix hit TV series, Narcos: Mexico. The Mexican born Luna is also known to audiences for his major film roles including that of Cassian Andor in 2016’s Rogue One: A Star Wars Story. By Joe Schramm, President, Schramm Marketing Group and Producer, Hispanic Television Summit
