Brands Hit the Jackpot on Growth by Unlocking the Power of the Hispanic Dollar

At Univision39s recent Leading the Change conference chief executive officer Vince Sadusky and Steve Mandala president of advertising sales and marketing reminded the audience just how critical the Hispanic segment is for the future growth of brands Where generalmarketonly strategies may have worked in the past today cultural relevance is essential This is clear even in how terminology is beginning to evolve from Hispanic to the allinclusive Latinx Power of Collaboration Content and CultureSeveral global brands from Oreo to Audible took the stage and shared their blueprint for success in connecting with this multilingual and bicultural audience amp8212 one that is constantly craving compelling storytelling that elegantly oscillates between Hispanic traditions and the vagaries of a modern fastpaced lifeUnlocking the full potential of this burgeoning consumer segment requires a deep dive into both the quotart and science of marketingquot according to Jennifer Mennes North America media director at Oreo parent company Mondelamp275z InternationalShe firmly believes in the power of consumer insights as the critical building block to any campaignThe insight Mondelamp275z used in its recent quotVive al Ritmo de Tu Antojoquot translated to quotLive to the Beat of Your Desirequot campaign was focused on the joy of snacking amp8212 firmly grounded at the intersection of food entertainment and culture In partnership with Univision39s Brand Labs and Mondelamp275z39s creative media agency Spark Foundry the team launched a multisnack platform including Belvita Chips Ahoy Oreo Ritz Sour Patch Kids and Trident with a potential 230 million net revenue upsideA centerpiece of the campaign featured Colombian pop singer Sebastiamp225n Yatra an upandcoming Latin Grammy Award nominee According to Mennes inviting Yatra to be a spokesperson was a strategic decision based on three factors quothis zest for life his love for the company39s snack foods and the ability to transcend his musical talent across audiencesquotYatra has a passionate fanbase particularly among Gen Zers with his music videos racking up hundreds of millions of views on YouTube The Gen Z demographic is 74 million strong today with onequarter of the cohort being Hispanic consumers who are increasingly playing the important role of culture curator for their generationquotHispanic culture is influencing mainstream culture todayquot Mennes said quotIn the past it was siloedquot There is no better place to see this phenomenon play out than in the music industry where the success of hits like Despacito and the increase of music consumption via streaming is attributed to the rise of predominantly Spanishlanguage songs appearing on the Billboard Hot 100Reflecting on the success of the campaign Mennes pointed to the quotsophistication of Univision39s national and local offering and access to deep audience insightsquot The partnership with its Brand Labs featured a number of media execution elements including social content inshow integrations radio and retail experiential activationsThe Consumer quotPinballquot JourneyThe consumer journey closely resembles a pinball game with flippers and bumpers propelling consumers as they make countless digital and nondigital purchase decisions according to Stacie de Armas vice president strategic initiatives and consumer engagement at Nielsen This is most evident with Hispanic consumers who are especially vocal in expressing their opinions and constantly reacting to changing market dynamics amp8212 overindexing on the likelihood of sharing opinions about products and services online 39 percent with a 125 indexIn fact Hispanic consumers believe that social media is the best forum to rate and review products with 22 percent of Hispanics doing so at a 126 index When it comes to winning the content wars Univision has struck gold recently with the TV specials Premio lo Nuestro and Premios Juventud which became the two most shared TV shows on Instagram amp8212 beating all other networksStrength in Numbers The ROI EngineEarlier this year EDO a data measurement and insights company partnered with Univision to track the results of a leading automaker39s firstever Spanish language TV campaign The objective of the case study was to measure what EDO calls Search Engagement Volume SEV and Search Engagement Rate SER which together show the likelihood that a consumer took action online after viewing an ad drawing insights from a lift in search trafficThe results were notable and showcased the strength of speaking to Hispanic consumers in language and in culture Looking across all dayparts the automaker39s audience engagement the SER Index increased from a baseline of 100 in Englishlanguage airings to 134 during Spanishlanguage spots Meanwhile in reviewing the allimportant primetime daypart the movement was from a 107 Englishlanguage SER to 131 for Spanishlanguage TV Overall the brand saw a clearcut 30 percent increase in search engagement with its Spanishlanguage spotsAbout twothirds of brands currently active in English language TV are not yet active in engaging with Hispanic consumers via Spanishlanguage TV Given that Roberto Ruiz executive vice president research insights and analytics at Univision pointed out during the conference quotthe importance of helping brands overcome fear of the new and providing them the tools and education to understand how critical Hispanic audiences are for their future growthquotProgressive and growthobsessed brands are cleverly staking their claim on the US culture map developing depth and authenticity in their relationships with their influential Hispanic consumers Their ability to skillfully balance brand marketing imperatives with shortterm performance deliverables is a testament to their capabilities in digging deep into consumer behavior and identifying the connective thread that pushes a brand to hit the jackpot on both market share growth and brand purposeWorking with Univision and betting on the Hispanic segment may end up being the best ace up your sleeve in the highstakes world of everexpanding customer segmentation choicesClick the social buttons to share this story with your friends and colleaguesThe opinions and points of view expressed in this content are exclusively the views of the author andor subjects and do not necessarily represent the views of MediaVillagecomMyersBizNet Inc management or associated writers

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Brands Hit the Jackpot on Growth by Unlocking the Power of the Hispanic Dollar

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Raquelle Zuzarte

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Brands Hit the Jackpot on Growth by Unlocking the Power of the Hispanic Dollar

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Raquelle Zuzarte

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