Out-of-Work CMOs Crash Cannes Events  – Claim They Lost Their Jobs Due to Hispanic Marketing Negligence

Out-of-work CMOs crashed the steps at the Palais, a Forbes CMO luncheon, an Advertising Week rooftop gathering and all along La Croisette. They were dressed in business casual suits, some carrying boxes with their office belongings, others with signs saying, “Available CMO after sleeping on the $3.4 trillion Hispanic marketing opportunity.” This was all part of the scene throughout the Cannes Lions International Festival of Creativity, where the Hispanic Marketing Council (HMC) made a bold statement for marketers to prioritize the U.S. Hispanic Market as part of its #STOPLATINOCOATING campaign.

The CMOs interacted with attendees and partygoers at the Gutter Bar with tales of how they woefully botched and under-prioritized Hispanic marketing, while handing out business cards with QR codes linked to the 25^th edition of the HMC Hispanic Market Guide, a free downloadable resource with comprehensive market intelligence as well as a directory of trusted experts with Hispanic marketing expertise. The market guide explains “Latino Coating”—as a superficial marketing approach coating products, campaigns, media or entertainment with Latino elements for the appearance of diversity without genuine understanding or respecting Latino culture—and outlines ways to authentically connect with U.S. Latinos.

These out-of-work CMOs also served as a focal point during a presentation given by Luis Miguel Messianu, Founder, President & Chief Creative Officer of MEL, and Marco Vega, Co-Founder & Chief Strategy Officer for Creyentes, as part of the first Latino U.S. Day, hosted by Advertising Week powered by PRODU, which aimed to celebrate and amplify the influence of the Hispanic advertising community within the marketing and communications industry.

“Enough is enough!” said Messianu, who not only served as a Cannes judge but is the creative director of the #STOPLATINOCOATING campaign, “How is it possible that U.S. Latinos command $3.2 trillion in GDP, ranking fifth globally¹, and yet brands barely scratch the surface by investing less than four percent of their advertising dollars? ² This is why we knew we had to spread the #STOPLATINOCOATING message at Cannes.”

Prior to Thursday’s activation, Messianu and Vega were featured speakers during a session hosted by NBC on Monday. Moderated by Gilbert Davila, Co-CEO of DMI-Consulting, and Co-Founder of the Association of National Advertisers’ Alliance for Inclusive and Multicultural Marketing (AIMM), “Moving from Coating to Connection: Navigating Latino Audience Engagement” served as a fireside chat and turned a cautionary tale into action items for marketers.

“The gap between the power of 1 in 5 consumers being Latino and less than 5% of marketing dollars supporting that immense opportunity poses an enormous threat to the business of growing brands,” said Vega. “We want to make sure marketers are armed with the stats on why authentic Hispanic marketing is good for business.”

Consider the following:

• More than a third of Latinos are dissatisfied with current products or value propositions being offered—there is a potential $600 billion in the future if brands apply the right Hispanic marketing practices.³
• 37% of Latino consumers who own a vehicle or are planning to buy one in the next three years believe automotive brands don’t understand their ethnic/racial background.⁴
• Latino healthcare spending has increased by 162% from 2012 to 2022, more than double the increase in total healthcare spending.⁵
• Latino households spend an average of…
  • 16% more than non-Latinos for health & beauty aid products for men and 4% more for products for women in an average year.⁶
  • 6% more than non-Latinos at food stores in an average week. ⁶
  • 16% more on apparel than the average household.⁷
  • 18% more than non-Hispanics on smartphones and 8% more on video games. ⁶
• 50% of Latinos indicated they purchased a luxury product/service in the last two years versus 42% of non-Latinos—high-spend categories include accessories (purses, scarves), prestige beauty/personal care, watches and jewelry.⁸

The disconnect between the opportunity and the investment is just one of the pillars of “Latino Coating” that HMC is helping brands course correct. “Marketers have failed to prioritize the U.S. Hispanic market as a global powerhouse. We are the third-fastest growing economy in the world behind China and India,¹ and we even outpace the U.S. economy as a whole,” explained HMC Chair Isabella Sanchez, VP of Media Integration at Zubi. “CMOs who continue to treat the Hispanic market as niche, translate a campaign into Spanish or cast brown faces without organic storylines are grossly missing the mark for brand growth and risking their careers.”

For more information on Latino Coating and to download the HMC 2024 Hispanic Market Guide, visit hispanicmarketingcouncil.org. For more information, visit hispanicmarketingcouncil.org and follow the HMC on Facebook, Instagram, and Twitter at @hmchispanic. Join the conversation using the hashtag #STOPLATINOCOATING.