Growth Insights for CEOs

Latino Marketing 101: “Niche” Rhymes with “Rich”

Wed, Nov 28, 2012 — Latinos Made a Difference Election night, as the race was called for Obama, the analysts for each network credited the Latino vote as the most nationally-decisive block. Subsequent data revealed a 70+ to 23 margin that voted with a clear preference for the platform and party that actually considered the wants and needs of Hispanics and reflected them. And like the Republicans, many brands in this country continue to either eschew or sub-optimize effective marketing aimed at the so-called “niche” of 50+ million Hispanics voting every day in America with their wallets. Usually I have found that my clients were either ill-informed about the marketing potential of this segment (comprising 16.7% of the U.S. population), or they felt that they could get by dabbling in it or just doing just a little Spanish language advertising, even though they were superficially spending at levels far below what was commensurate with the size of the segment and the reality of the opportunity. Most clients that I have introduced to effective Hispanic marketing have had a very quick epiphany as they moved from initially testing the waters to subsequently investing aggressively and stealing market share hand over foot over lazy, condescending or less savvy competitors. Then they are delighted as they learn that Hispanic customers tend to be far more brand loyal and difficult to dislodge than general market consumers, once brand preferences are developed. Do the Research