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demystifying the hispanic consumer: myth #6

demystifying the hispanic consumer: myth #6

The following post is part 6 of a 7 part series

Myth #6

Launching a Hispanic Marketing Program Will be too Difficult to Support Financially, Especially When I’m Having a Hard Time in the current environment

Truth

When brands are budget-constrained and fighting for market share is EXACTLY when they should explore the Hispanic market. This is because the efficiencies associated with targeting this segment are unmatchable in the general market. For example, 60% of the population is clustered in top 10 markets, which allows for a targeted approach. Also, because Hispanic media vehicles are more concentrated, advertisers are often able to reach 90% of any given Hispanic ADI at about 1/10th the cost of doing the same in the general market. What was once unaffordable now becomes the most cost-efficient means of generating sales and loyalty.