Marketing

Despite a pace of economic decline that will produce the worst economy since the Great Depression, the ad market might end up falling by little more than we saw 2001. It will certainly be better than in 2008 during the fallout of the global financial crisis.

A decade of media evolution has taken place in a few short months. Our latest report assesses which audience behaviours and industry dynamics will stick into 2021

Covid-19 has shattered the demand forecasts that guide retailers and suppliers of consumer goods and services in figuring out how much to order or manufacture, where to stock inventory, and how much to advertise or discount. Early on during the pandemic, sudden lockdowns and a shift to working from home caused panic buying of many food items and household goods. Some items sold out while others languished on shelves.

The COVID-19 crisis had a quick impact on advertisers’ media budgets. Those in sectors such as travel and cinema, where consumer spending plummeted, slashed budgets. Those in other sectors, such as consumer packaged goods (CPG), digital retail, and healthcare, rushed to increase and redirect their budgets, hoping to gain market share as consumers flocked online—though some then pulled back, unable to keep up with consumer demand.

I am not very encourage when writing this article for HispanicAd, to see efforts to help Minority Broadcasters and Consumers that are not inclusive of at least the majority of the groups that encompass the Multicultural Marketing Bucket.  By Gene Bryan / CEO – HispanicAd

After the release of our first article “When Black is LOUDER than Brown – Part 1” on Tuesday, we have been involved in a flurry of emails, texts and calls with executives regarding the purposeful announcement by the Dentsu Network of their media-buying program (Project Booker) designed to create “Inclusion with Exclusion”. 

The COVID pandemic, as it has with nearly every other business around the world, has completely upended the way we perceive the limitations on ways business can be conducted, and the way marketers can interact with their audiences. The use of virtual sales channels and other digital transformation strategies have undergone remarkable acceleration.

How many marketers does it take to build a brand?

Mattel, P&G, and other major brands take a much more inclusive approach to gender

Consumers across generations and geographies are flocking to digital self-service channels when engaging with brands, yet many get frustrated when their needs aren’t met. This frustration has led to 73% of consumers questioning why they’re doing business with the brand.

This report from ANA’s Alliance for Inclusive and Multicultural Marketing (AIMM), based on three separate studies among ANA members, concludes that women overwhelmingly comprise the bulk of the marketing industry’s workforce and at the senior leadership level, female representation is now likely at an all-time high. However, ethnic diversity continues to be poor, especially for African-American/Black and Hispanic/Latino.

With the nation’s leading multicultural marketing executives logged on to participate in the virtual 2020 ANA Multicultural Marketing & Diversity Conference, which began Tuesday with strong sessions from Procter & Gamble Chief Brand Officer Marc Pritchard and Nestlé U.S. CMO Alicia Enciso, the ANA released a new diversity report that paints a sober picture of just how lacking diversity remains in the U.S. marketing industry.  By Adam R Jacobson / Radio + TV Business Report

GROWTH. If there is one word that best describes the imperative nature of marketing and the priority shared by all CMOs in these unprecedented times, this is it. Growth has never been a greater priority than it is today. This is not a new idea of course. The industry and CMO community have rallied around the importance of marketing as a growth vehicle in prior years.

Nine of 10 chief executives, advertising, promotions, sales & marketing managers are non-Hispanic white. Without breaking  internal marketing “culture bubbles” to put cultural fluency and insights at the core of every brand strategy, brands risk a break up with Gen Zers and their parents.

In 1970, the United States Census Bureau coined the term “Hispanic” to reflect the growing population from Spanish-speaking countries. While many identify with the term, others prefer to call themselves “Latino” or “Latina,” reflecting their origin from a Latin-American country. But there’s a new contender on the scene: Latinx. By Jennifer Dellapina / Conill Advertising

During 2020 we’ve published seven category-specific media effectiveness investigations covering Food & Drink, Tech & Telco, Alcohol, Finance, Personal Care & Beauty, Automotive and Retail. Through this process we’ve discovered that each of these category doors has its own media effectiveness keys, but there are also a few master keys which unlock impact and effectiveness across all categories.

Without skilled people and the right processes, marketing technology will waste money rather than gain customers.

The crisis has widened consumer appetite for choice and introduced unexpected shifts in consumer behavior—this year’s holiday shopping is up for grabs.

Organizations have been pressuring marketers to holistically measure and validate their efforts for years, but COVID-19 has certainly amplified the urgency. With advertising and budgets off track this year, marketers and CMOs have more at stake because there’s literally no room for waste or inefficiency.

For many of us, our ideals and attitudes about who we are as individuals are shaped by our heritage and cultural experiences. As consumers, our affinity for certain brands pass through these filters resulting in purchase behaviors that tie back to our beliefs and how we see ourselves. Among multicultural audiences, this presents a unique challenge for marketers. There is no one size fits all solution to gaining buy-in from this diverse group. U.S. Hispanics hail from over 20 countries of origin, and Asian Americans, 40 countries. Understanding the importance of identity to multicultural audiences is essential to mitigating cultural bias in your marketing campaign strategy and delivering culturally relevant advertising.