We have received numerous calls over the last couple of weeks asking our opinion about the Industry at large and how we see 2009 and 2010.
After 25+ years in the business, I have come to one realization.
I appreciate being consider an expert, but …….
I am still a student with more questions than answers.
One thing is for sure, it is going to be a tough year, where we are going to have to tighten our belts and do more with less.
A couple of suggestions:
- Encourage your clients to spend, Hispanic consumers are buying and you better be talking to them.
- Ad Agencies will need to better understand how to work new compensation models and assignments. Along with delivering more efficient and effective behavioral targeting models with distinctly different media alternatives.
- Media companies cannot rest on their mass approach. They will be required to offer unique media opportunities that deliver more efficient and effective behavioral targeted media alternatives at a lower cost.
- Take a look at geo & behavioral targeting and local approaches. A road map to increasing ROI and increasing your importance as an expert for clients.
- Language and culture are defining parameters for a very complex Consumer segment. Do not over simplify and sacrifice ROI for your clients.
- Only because we understand language and culture does not ensure our survivability in a new era of technological advancements and alternative media consumption by US Hispanic Consumers. Understand, consumer and integrate new media alternatives.
- Bringing the agencies, the media and the professionals up to speed for today’s environment and ensure we continue to lead clients through the maze we call The US Hispanic Market. A ‘skillset’ that requires training and comes at a cost. Don’t be cheap on training.
Back to the original question on clarity for 2009 & 2010.
I hope for a new dawn.
Your feedback is appreciated.