Follow the dynamic changes within the U.S. Hispanic audience, especially language
Paul Suskey, founder and co-CEO of Media8, a digital agency focused on the U.S. Hispanic and LatAm markets, says, "Executing and maintaining budgets that cover English/bilingual segments is a considerable challenge. Traditional and digital Hispanic shops may find it difficult within the language limitations set forth by the client and/or limitations available within media outlets that effectively reach these groups in mass. It's quite easy for a general market shop or client to think 'these sites and/or placements index well with Hispanics, no need for more.'"
In addition, Suskey says, "The increasing investment by brands seeking to reach the U.S. Hispanic market has applied pressure to media entry costs that, at times, restrict our ability to deliver and drive results comparable to a digital spend in the U.S. Reaching Hispanics under these circumstances, while maintaining comparable ROI and profitably goals, is an ongoing challenge.
"A tactic that has permitted us to overcome this inventory challenge is IP targeting (geotargeting), which has expanded our DR and brand placement opportunities exponentially. Isolating U.S.-based traffic on Latin American publishers has allowed us to combat increasing CPM levels from U.S.-based publishers who absorb the majority of the digital investment."
Do not wait!
Mark Lopez, COO of Terra Networks U.S.A, says, "You have to start leveraging the online engagement to communicate your offer and brand attributes today. Many clients delay marketing efforts 'waiting' for the next version of their in-language consumer site. Each day that clients are not engaging with this audience online is a lost opportunity to understand your single largest source of U.S. growth for the next 10-20 years.
"The biggest barrier today does not come from technology but our risk aversion as an industry to start learning about this audience. You have to commit resources and agree that it's OK to make mistakes if they help you learn to position your brand online."
Resources
Ad Age Hispanic Fact Pact (60-page PDF)
Association for Hispanic Advertising Agencies
Center for Hispanic Marketing Communication at Florida State University
The Online U.S. Hispanic: First and Second Generation Insights (7th link down)
U.S. Census Bureau Data on the Hispanic Population of the U.S.
Joe Kutchera is the interactive sales director at Time Inc. Mexico (Grupo Editorial Expansion) and blogs at TheDailyJoe.net.