LIONS DAILY NEWS MONDAY / JUNE 17 / 2019
FOCUS ON US HISPANIC
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THE PURCHASING POWER OF US HISPANIC CONSUMERS IS INCREASINGLY DETERMINING THE GROWTH OF THE COUNTRY’S GNP. SO WHY ISN’T THIS BEING REFLECTED IN BRANDS’ INVESTMENT IN THIS MARKET SEGMENT, ASKS LIZ UNAMO, EDITOR HISPANIC AND MEDIA ADVERTISING AT PRODU
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ISPANICS are forecast to
represent 28% of the US population by the year 2060. But although this group is on its way to becoming the second largest in the US — followed by Asians — the investment of the biggest brands in the Hispanic market is not growing at the same pace. “Not all advertisers understand the financial value that this segment offers their business. Some keep trying to ‘optimise’ their efforts by adapting their general-market messages and the results aren’t always that effective,” says Aldo Quevedo, principal and creative director at Richards/Lerma. But multicultural markets, especially Hispanics, will continue to evolve. “They are a vital growth area for almost all business categories and remain underleveraged by a majority of marketers,” says Diego Yurkievich, chief
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creative officer of Conill. “Groups like the ANA’s Alliance for Inclusive and Multicultural Marketing [AIMM] illustrate how leading marketers are carefully examining best practices to realise the fullest potential of multicultural markets.” Although the panorama has changed, new challenges arise. “Brands now face the challenge to their growth of doing more with less. This represents our biggest opportunity — showing brands that we can help them meet that challenge. It seems to me that agencies specialising in the Hispanic market are positioned to help achieve both goals: we’ve always had to do more with less and our consumers represent growth in the US,” says John Gallegos, CEO of United Collective. Counting on expansion continues to be the name of the game for Hispanic executives. “We are seeing more brands
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10 1 Richard/ Lerma’s Aldo Quevedo 2 Conill’s Diego Yurkievich 3 Ogilvy Miami’s Tanya De Poli 4 DDB Americas’ Juan Carlos Ortiz 5 Orci’s Marina Filippelli 6 Dieste’s Ciro Sarmiento 7 Alma’s Isaac Mizrahi 8 Zubi’s Ivan Calle 9 Juan Jose Quintana 10 United Collective’s John Gallegos 11 We Believers’ Gustavo Lauria 12 Alma’s Luis Miguel Messianu 13 Casanova/ McCann’s Elias Weinstock
interested in investing in the segment and some brands that have been historically reducing their Hispanic marketing investments are reversing this trend. Why? Because a one-sizefits-all message translated to Spanish, managed by their GM [general market] agencies, doesn’t work,” says Isaac Mizrahi, co-president and chief operating officer of Alma. There are many agencies trying to expand their business to include Hispanics, but few do it with any real knowledge of this market. “There’s a huge cultural opportunity that needs to be properly addressed. Our team is composed of a diverse group of Hispanics living in the US. We know the target because we are the target,” says Tanya De Poli, general manager of Ogilvy Miami. This interlinked social fabric has no limits: the diversity card is not just a
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