UMG’s latest whitepaper leverages data on where the US Hispanic Market spends time to derive meaningful and actionable insight for marketers that are either new to the Hispanic Market opportunity or are looking to enhance their current efforts. This latest publication from the agency comes at a time when many brands are no longer relying exclusively on demographic information and are leaning harder into their understanding of the behavioral. By knowing who your customer is and what they are doing with and outside of your brand, you’ll be positioned to deliver the most relevant messaging, products, and services.
Among the key learnings in our latest work are:
- The US Hispanic consumer is not afraid but rather embraces the opportunity to merge their traditions and culture with that of the American experience. Brands that recognize and celebrate this reality can be posed to effectively connect and convert this audience.
- Social experiences are important. Usually, Hispanic families are larger and multi-generational. Anything that allows them to enjoy quality time together will be appreciated.
- Value is actively sought. With larger household sizes, being able to have quality goods and experiences at a great price is important. That said, price, while important, is not the only factor in the value equation.
Additionally, we have seen several of our clients not only embrace these trends, but we are also working with them on better leveraging behavioral data into marketing and media decisions to drive higher returns on ad spend and business results. Fewer of the buys UMG makes on behalf of our clients today are focused purely on Hispanics and/or Spanish speakers, but more on Hispanics within a defined geographic space that exhibit specific behaviors.
As an example, a client that would once attempt to connect with “Hispanics that are homeowners” can now layer on added context through location data to arrive at audiences like “Hispanics that are homeowners and just started visiting a hardware store.” This target would be prime for a home improvement loan. This type of specificity allows for a more focused and efficient media buy, and better, more relevant messaging. It’s a win for the customer viewing the ad and the brand delivering that impression.
Similar logic may apply to a car dealership: if they were to target “Hispanics that have increased their visits to mechanics or auto part stores,” it may suggest an audience that is looking for a new vehicle. This is a better target than anything you can achieve with pure demographic points like age, gender, household income, etc.
If you’re reading this, you likely don’t need to be persuaded into the importance of the Hispanic Market in the US economy and as a must-win audience for any growing business. You likely also know that there is an opportunity to better leverage data in order to understand consumer behavior and ultimately deliver increased brand relevance by targeting the right customer with the right message at the right time. Looking at a segment of your customer base solely through factors like age and ethnicity will only get you so far. It’s important to layer on real behavioral data on top of that to really understand how your customers spend their time and by extension, when is the best time to talk to them. Only then can you begin to deliver real value to your Hispanic Marketing efforts (or any targeted plan) and see increased business performance stemming from your work.
Click here to access “Leveraging Location Insights to Offer Relevance to the US Hispanic Consumer.”