eMarketer recently featured some data from HispaniTelligence and TNS Media that indicates that marketing spending online for Hispanics is an underdeveloped market. Here are the numbers:
As a huge proponent of spending toward Hispanics and African Americans, I am disappointed that so few companies have recognized the need to connect with this market online. While Hispanic online penetration is still a scosh lower than Anglo, it is still high enough to support a heckuvalot larger share of total spend.
Why is it that so few people look at this market, which, just to remind us all:
1. Is the largest US minority group
2. Offers trillions in buying power
3. Is the fastest growing populaiton group online
4. Is by far the most brand loyal market segment in the US
and ignore it? I am reminded of a moment early in my career when the CEO of a client said, "We need to grow our business with regular people. Why do I want to spend money advertising to my gardener?"
I wanted to get him deposed. Happily the board took care of that less than a year later, though for a different reason.
Anyway. Get buying, people! I have worked on perhaps 25 Hispanic marketing programs in the last couple decades. EVERY ONE paid out. El Poder Latino. Wish I could say the same for campaigns to the "regular" people.
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