5/21/07-The buzzword these days is “Hispanic marketing”. But measuring the success of this marketing is not easy, especially when modern marketing/measuring/analytic tools over the past 20-30 years have been honed to the general market population, not the Hispanic market.
Hispanic television and print advertising captures only 3.2% of total corporate advertising budgets according to TNS Media Intelligence Figures. Their study also showed- of the nation’s top 250 advertisers, 100, did not market at all in Spanish. And even those that do, many spend less than 1% of their advertising budget on Hispanics.
New tools:
In a brief search, we found many firms are quickly coming to market with new tools to measure Hispanic marketing. The following were just the results from 1 search page-
Data-mining has started tracking things as varied as Hispanic paydays to major Hispanic holidays. At the same time Nielsen has started a new method of tracking Hispanic consumer spending, while other companies. Portada has a new tool to measure Hispanic print advertising spending.
Will all these new tools work?
I think they’ll work better, than previous general market tools, but likely until Hispanic marketing budgets increase… tools will still have a ways to go.
In the meantime, to ensure effective Hispanic marketing campaigns: research, research, and learn the market. As one Univision station general manager said, Arlene Urias, "Not feeling welcome is the main reason Hispanics walk away."
-La Marketer