Latina Marketing - Segment, Localize and Specialize.....or FAIL!
TANZINA VEGA’s (@tanzinavega)December 8th article in the New York Times, Marketers, and Media Companies, Set Their Sights on Latin Women is a call-to-action to CPG companies in the US who continue to blindly churn-out ineffective marketing campaigns aimed at the mainstream public . The last Census count put US Latina women at 25 million!
Maybe print isn't dead after all
But, the print media world is ahead of the curve as they have been investing for several years in this consumer segment and they are now reaping the benefits.
Spearheading the attack is Cosmopolitan Latina; publishing begins in May and will be aimed at bicultural and bilingual Latinas in Texas, California, Florida and New York.
“A lot of marketers understand that they need to invest with the Latino market,” said Donna Kalajian Lagani, the senior vice president and publishing director at Cosmopolitan. But many Latinos, she added, “are digesting their information in English—she’s very Latina, but she’s also very American. You can’t separate the two,”
In addition to launching the new publication, Cosmopolitan will add content and advertising dedicated to Latino women in 750,000 copies of its regular issue and the Cosmopolitan Web site will have a separate tab for Latino-focused content and will additionally offer Web-only articles written by Latina bloggers.
The primary competitor to Cosmopolitan Latina is Latina magazine, published by Latina Media Ventures. They recently celebrated their 15th anniversary issue by putting 15 Latino women, including the actresses Salma Hayek, Rosario Dawson and America Ferrera, on the cover.
One of the hallmarks of Latina magazine is its use of “Spanglish,” or the occasional use of Spanish words in otherwise English text. Michelle Herrera Mulligan, the editor of Cosmopolitan Latina, said the new publication would use Spanish words if it felt “natural within a story.”
Ms. Herrera Mulligan said the magazine would focus on issues like entertaining, beauty and how Latinas related to their families. The overall voice of the publication, she said, will be one that asks readers, “What makes you more confident, what makes you bolder?”
Ad revenue for Cosmopolitan increased nearly 4.6 percent, to $292.5 million, for the first three quarters of 2011 compared with the same period a year before.
At Siempre Mujer, a Spanish-language magazine published by Meredith, ad revenue for the first three quarters of 2011 also increased significantly. Finally, People en Español, the Spanish-language version of People magazine published by Time Inc., had a 35 percent increase in ad revenue to $44 million, and an increase of ad pages of close to 30 percent!
But what does this have to do with export?
There are a variety of reasons why it is important for companies to export. Many are obvious - revenue for example - but others are less commonly discussed. Exporting creates an awareness of issues, like marketing localization, which are directly applicable to the domestic market.
In a recent "Tradeology" blog post from the ITA (International Trade Administration) I read a great question and answer
[bquote]Doug Barry, senior international trade specialist in the Trade Information Center: "Has exporting changed your approach to business? Has it had an effect on you as a person who’s taken a company international?"[/bquote]
[bquote]Richard Brenner, the chief executive officer of Amarr Garage Doors: "Yes, definitely. Being an exporter has made us a better company domestically. By understanding what’s done internationally, I think that we’ve become better listeners to the needs of our domestic customers. And our international dealers have taught us things about what they see in their market that we’ve translated back into our domestic market. So it’s definitely broadened our scope."[/bquote]
Through international business development in Latin America, US based companies can develop the nuanced understanding of different demographic segments which will be critical to their success in addressing the needs of this fast growing segment of US population.
Consilium's vertically integrated model which integrates various disciplines, including marketing localization, is uniquely situated to help companies both succeed in their export efforts, but develop the skills to apply lessons and accrue domestic benefits.
Contact us to discuss how we can help your company.