Page 25 - HISPANIC MARKET OVERVIEW - 2018-complete

2018 HISPANIC MARKET OVERVIEW, presented by López Negrete Communications
When it comes to media spend, Los Angeles, Miami, New York, Houston and Dallas commanded close to 60% of the investment in 2017. But, in line with smaller markets experiencing significant population growth, the markets that saw the most significant media growth versus 2016 were Hartford, Salt Lake City, Oklahoma and Raleigh.
When comparing that growth to the last five years, Fernández finds that Boston, Salt Lake City, San Diego and Orlando experienced the largest growth.
Asked about categories that are particularly strong, or weak, Fernández says the situation on a regional level isn’t much different to that on a national level.
“At the local level the same categories dominate, such as Automotive, Wireless, Beer and QSR,” he says. “The one category that stands out from a media perspective at the local level is the Cable industry – leading the investment at the local level. Those lagging in the market continue to be the same categories: Pharmaceutical, Financial, and Technology.”
ARE YOU EXPERIENTIAL?
Has experiential marketing slowed down, or is it still as important as it was in the late 2000s and into 2009?
“Experiential marketing has taken a different shape in today’s landscape,” Fernández says. “If we narrow it to the more traditional Hispanic events like festivals and parades, from our experience, it continues to play a role for many brands that have been engaged long-term in the market. Back in the 2000s there were more grassroots local events, primarily driven by the local media, particularly radio. Today, clients want to create more unique and ownable events to resonate with their audience. While grassroots events are still important to connect on a local level, these have evolved today to take on a larger platform.”
At d expósito & Partners, Fernández sees experiential marketing – in its broadest sense – as “an important engagement tool, with a bright future.”
He says, “It continues to be a way to differentiate and delight a captive audience that today is more and more elusive when it comes to messages and retaining information from so many sources. If you can capture audiences via activations (albeit in smaller numbers compared to a more ‘traditional” larger media reach) and they turn around and amplify that message - as a brand you will cut through the clutter.”
Brand experiences are also evolving and becoming more and more interactive. Through storytelling, unrestricted by time or medium, a CMO can work with a shop to help build even more memorable moments for a brand that is trying to closely connect with consumers. Along with all of this comes data capturing, which in turn delivers the appropriate measurable ROI marketers need.
Of course, the “value” of a one-on-one impression is bigger than any measurement can provide, and that’s why Fernández believes there will always be a place in the marketing