If our Non-Traditional student campaign challenged us to use a wide array of tactics, this campaign tested our knowledge and access in a number of markets to develop a truly multicultural grassroots engagement strategy.
Hispanic buying power is expected to reach $1.7 trillion by 2020, a product of the demographic in the U.S, reaching its maturity. There’s no secret that the Latin consumer has evolved into one of U.S. marketers most coveted prizes. But just targeting Hispanics won’t necessarily make them buy your products or services. Understanding the actions that change buying behavior in mass or identifying trends is the art of marketing in its highest form. But Hispanic marketing trends are unpredictable. Instead of forecasting the trends, understanding what’s the driving force behind them is a more reliable barometer.
As digital media and stimuli increasingly lead the way in which ethnic buyers consume media, the role of the ethnic ad agency has dramatically shifted. As publishers that cater to a general market audience play catch-up, the fact is, the ethnic consumer has been elusive far longer. As such, the role of these agencies has been to provide the blue print for how to re-evaluate and strategize for a changing American consumer. Here are three ways changes in multicultural consumer behavior has afforded the ethnic ad agency best practices to paradigm shift the entire advertising industry.
Between 2010 and 163% the U.S. is expected to see a 163% increase in Hispanic population making up 30% of the population by July 1, 2050. From 2010 to 2015, Latino buying power rose to $1.5 trillion a 50% increase in just five years. Today, every one from the small business owner to Fortune 100 CMO's are looking to engage this audience. But if we had a crystal ball, what would we see? We can't assume behavior will stay the same. Here are 5 Hispanic Marketing Trends our research has indicated we will see moving forward.