Page 11 - HISPANIC MARKET OVERVIEW - 2018-complete

2018 HISPANIC MARKET OVERVIEW, presented by López Negrete Communications
where you have the opportunity to be laser-sharp focused, is more in line with how we have recalibrated what we go after.”
The result, Alex says, is an industry that is “a lot more faster and a lot more streamlined,” and one that is much better at collaboration than it was a decade ago.
Even so, “leaner, streamlined agencies” are causing “bigger players to play like smaller players” in the total market, resulting in across-the-board rethinking of just how to approach all consumers.
“You will see less big players, but the whole industry is going through this change,” Alex says. “Evolution is not just about the Hispanic market. I am still bullish on the Hispanic market, even as the whole Total Market conversation was one that was a very difficult conversation to have. Hispanic is about culture and not just about language, yet language still has a very important role.
“We’re coming out of the other side with a more empowered marketer,” he concludes. “This is complex. We happen to be specialists. We just happen to be specialists in culture.”
Is that enough for ultimate survival? The Hispanic and multicultural marketing and advertising industry has never been a bigger state of flux. Alex agrees wholeheartedly.
“We are experiencing evolution that is ridiculously fast and as unpredictable as it could be,” he says. “There are changes in data and changes in the media landscape – it is absolutely crazy. It is a brand-new day, four times a day every day.”
But, there’s a silver lining for the multicultural expert.
“Collectively, we are the answer for marketers to succeed or to fail,” Alex says. “Our value is unquestionable, but there is no more ‘one answers’ to come from us. Who we represent varies wildly from client to client. The days of ‘this is what LNC is’ are gone. With some clients we are clearly the strategy agency – it changes like crazy and the agencies that survive have the tolerance for that unpredictability.”
HMO
THE AHAA MOMENT ON CMC’S REBRANDING
“I struggled with the name change a great deal, and those on the inside will know when I kicked and screamed,” Alex López Negrete says of the rechristening of the Hispanic marketing and advertising’s main advocacy group as the Culture Marketing Council. “I thought we could not just keep it an association of agencies and expand it to media and research partners. But, I really did struggle with taking ‘Hispanic’ out of the name, and a lot of it had to do with the fact that I was there when it was born [as the Association of Hispanic Advertising Agencies]. I had a personal attachment that was quite, quite deep. There will always be a mainstream, but it is not equal to non-ethnic white. We are now on the main stage, and we have to bring it. Still, what defines us is our culture. We just really have to have a sharp grasp on our culture in America.”
As it has gone on, I have warmed to it and am glad it was changed because of my ME work.