AdvertisingAge has a good post from Tommy Thompson
regarding why in a tough economy it makes financial sense to target Latinos.
The main point he makes is that if the "ultimate goal for all brand advertising is to reach the maximum number of eyeballs" then the Hispanic media only makes perfect sense since it can deliver the lowest cost per point than general market media. In other words, more bang for the buck.
The one point not addressed is that for many organizations not currently marketing to Latinos, it's possible to invest int the Hispanic market without increasing their budgets. An important consideration in a down economy. How? By really looking smartly at your general market buys and eliminating any redundancy or waste and instead investing those dollars into the Hispanic market.
I've seen many cases where companies who offer products/services perfectly suited for the Hispanic market are buying 3 general TV stations in the same market and running spots at the same time, and not spending a single dollar in the Spanish-language media.
2009 is the year of ROI. General market organizations need to be really prudent with their dollars and deliver a return. It's time to not only recognize the importance of the Hispanic market, but know that there are cost-effective ways to reach us.
Labels: Hispanic media, Hispanic media spending