Page 15 - HISPANIC MARKET OVERVIEW - 2018-complete

2018 HISPANIC MARKET OVERVIEW, presented by López Negrete Communications
get market growth they aspired. They are once again investing in multicultural talent and are hiring experts and specialists to develop multicultural campaigns.”
While Mizrahi says it is the beginning of the process, he is “cautiously optimistic.”
“They swung the pendulum too far to the total market, abandoning the segment approach,” he continues.
STRENGTHS AND STRUGGLES
As the first half of 2018 winds down, Mizrahi notes that consumer packaged goods (CPGs) and financial services companies represent the strongest ad categories in the U.S. Hispanic market. On the flip side, he has some tough words for CMOs and the decision makers at the nation’s automotive brands and dealer associations. “Auto has been a segment that adopted the ‘total market’ [approach] and is starting to suffer the consequences,” Mizrahi says. “A lot of the brands are not seeing the growth they want because of this.”
Meanwhile, continued laggards in marketing to Latinos remain the health care and pharmaceutical categories.
Where are the advertising dollars going?
TV remains an integral component of the Hispanic media mix. But, more than ever, the traditional Upfront week full of puffery, promotion, crowing and cocktails is less essential for marketers and agency leaders. This year saw the full abandonment of a traditional Upfront presentation by all Hispanic media except Univision, which kept a theater event but as part of a two-day experiential experience. Further, Univision’s venue was far from Midtown, in an attempt to express its hipper-than-ever attitude toward the Hispanic market while fighting off negative press amid a major restructuring effort.
“The fact that some companies are not doing traditional presentations doesn’t mean advertisers aren’t getting first-hand one-on-one discussions,” Mizrahi says. In his role at Alma, he and his team were exposed to several upfront presentations over several weeks in April.
This will help clients determine how to mix broadcast and cable TV with social media and other opportunities to successfully connect with the Latino consumer.
Looking ahead to 2019, Mizrahi notes, “Video is still going to be extremely relevant, and even the linear television players in the U.S. Hispanic market have been beefing up their video outside of their linear strategy. As ahaa demonstrated in a Spanish-language ROI study delivered in Q1 2017, a combination of video, linear and nonlinear, social, radio and digital significantly allows marketers to open the door to the local retailers.”
As Hispanic media moves away from Upfront week events in New York, one may wonder if a Hispanic marketing and advertising-focused conference is still needed. One of the key