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HISPANIC MARKET OVERVIEW, presented by López Negrete Communications 2017 Edition
She says, “We have a better understanding of the multicultural nature of the market because we’re not the general market. We already see our world through multicultural lenses, and no one can take that expertise from us. And, the need for our expertise will only continue to grow.”
TAKING ‘AIMM’ AT SMARTER SPENDING
AHAA enjoys two seats on an executive board formed in October 2016 that’s designed to create a powerful, unified voice for the advancement of multicultural marketing.
With Association of National Advertisers (ANA) President/CEO Bob Liodice and Michael Lacorazza, EVP/Brand and Advertising-Integrated Marketing at Wells Fargo as co-chairs, the Alliance for Inclusive & Multicultural Marketing (AIMM) has taken head-on a key problem seen from the growth of total market initiatives.
Says Gonzalez, “There has been a decrease in spending in multicultural marketing seen in the last two years, including Asian-American and African-American ad dollars. The result is that ROI and consumer spending in these categories have dropped. Yet, total market shops don’t have the experience. They don’t have the research. Being ‘agency prepared’ ... that’s what AIMM is doing.”
Gonzalez sits on the AIMM committee for talent and education.
Total market
Education remains key ... more than eighteen years after Ricky Martin’s performance of “La Copa de la Vida” awakened the non-Latino world to the power of the U.S. Hispanic market. The continued need for marketer education also comes as “Despacito,” the global smash from Luis Fonsi featuring Daddy Yankee and (singing phonetically) Justin Bieber, has topped the charts in not only the U.S., but in such disparate countries as Austria and New Zealand.
What can U.S. Hispanic advertising shops do to not only keep their current clients, but also attract new advertisers and go beyond the key 13-14 brands that have been targeting Latinos for decades?
“The numbers will show that if they want to grow their brand, they have to get in,” Gonzalez says. “Then there is the question of how to do it, and who should be in charge of it.”
In her view, the Hispanic advertising sector suffers from a lack of multicultural talent on the brand side. “When there is that lack of knowledge, there’s a real lack of sense of what to do next. You need a partner that really understands that market, and we are that partner.”
‘PLEASE ALLOW ME TO INTRODUCE MYSELF’
shops don’t have the experience. They don’t have the research.
Linda Lane Gonzalez