Inadequate Marketing Focus
In the recent article, Advertisers seek inroads into growing Latino consumer base by Julio Morales a Staff Writer for a western paper, US based CPG companies are criticized harshly for spending too little (1% of their advertising budget) on the Latino market despite a 68% of population on-line figure. Moreover, Morales falls short of calling them shortsighted in light of a 48 % growth in Latino consumer spending (vs. mainstream growth of only 27.5%), expected to reach 1.6 Trillion by 2016!
He adds that while mainstream marketing campaigns reach Latino audiences, by not tailoring the message directly at them, advertisers run the risk of missing segments such as Spanish-dominant or young Latino consumers.
Mexican Marketing - Cracking the US Code
He points out successful campaigns such as Tapatio’s in which Mexicans are shown putting its hot sauce on Doritos because it “strikes a chord with the consumer”. This is an example of using good intel about what US Latinos are eating and putting it to use. Doritos are not a Latino food, but do stem from a US notion of what Latino food is. Tapatio, however is Mexican and our new Latinos in the US are consuming both together—a hybrid food for a hybrid people! Authenticity is not important—only discovering the new trends and leveraging them is!
Morales article also praises companies like General Mills, who targets the Latino mother through clever campaigns which focus on providing information regarding the wellness of her family. Their vehicle is a Spanish-language initiative called: Que Rica Vida which provides Latinas with culturally relevant lifestyle information.
Focused and Effective
Other consumer focused giants like General Motors, Google, T-Mobile and Kraft Foods are propped-up as model companies for focusing purposefully on the Latino consumer and developing in-house, Latino Marketing teams. These elite firms are noteworthy contributors in the over $5 Billion spent on annual advertising to the US Latino population!
I say, shame on the multi-nationals who are failing to use their overseas, in-country experiences to develop successful marketing campaigns here in their home markets! We still have a long way to go…
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