One of the things I truly enjoy at my agency (besides leading a great team) is speaking at different conferences. It gives me the opportunity to talk with executives and discuss how companies are growing their businesses by including Hispanics as part of their marketing efforts.
Throughout the years, I have found that marketing executives fall into two basic categories of thought on this topic: 1) They really understand the significance of the Hispanic market and realize the importance of seeking the right help to secure their company’s growth. 2) They think that this opportunity translates into more work for them, so the timing never seems right or it is simply not their priority.
These two different business mindsets are making the difference between success and failure.
All the statistics and studies deliver irrefutable proof that Hispanic consumers already have a powerful influence on our economy. And that power is multiplying fast.
Sometimes, it only takes the vision of one person in a company to make executives change their way of thinking. I remember working with a marketing director for an international brand. At the time, their sales were down. She was convinced that the company needed to do something to set them apart from the competition and recover the sales loss from the general market. Her current CMO felt that reaching out to Hispanics was a waste of time and money. He made it clear that he was not going to support the effort. If she wanted to do something, she was on her own.
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She turned to my agency to help prove what this market could do for her company. We helped her implement an initiative in two testing markets. The following year this initiative became a national effort. The results were staggering. Not only were sales up, but she also received the President’s Award for her performance and innovation. This is the type of team player and open-mindedness you need in your organization to make a difference.
For any business to thrive, you need an innovative team that is constantly on your side, bringing new ideas, understanding market trends, and pushing themselves from their comfort zone. This will give you an edge as a company and set you apart from the competition. Apple is a vivid example of how a company can revolutionize the market.
If you really want to grow your company, these are the type of mindsets your marketing team needs to have towards your Hispanic marketing efforts:
Be committed: Your Hispanic marketing initiative should be part of your overall marketing efforts. Allocate a budget. Create a culturally relevant strategy. Keep a steady presence throughout the year. Only then you will achieve results and obtain higher ROI. Whether you are a pioneer or not in the Hispanic market, the key is to build a long and lasting impression that will set you apart from your competition and secure steady growth. Embrace the Hispanic market and you will see surprising results. Make it a companywide mindset. From corporate executives all the way down to entry-level employees—every person in your organization has to be on board to assure a successful outcome.
No Excuses: Sometimes marketing executives feel that the Hispanic market is too complex and the timing is not right. The Hispanic market is complex but is no more complex than the other 260 million people that live in different regions of the US who have different cultural influencers, dialect, and accents. We manage them just fine. The good news is that the Hispanic market is no different. Whether you use English or Spanish, they respond to marketing efforts that speak to their needs just like everyone else. The thing to keep in mind is that their needs and values are distinct from the general market.
Please Read This: 5 Ways to improve ROI with Hispanics
Optimize your time: You are busy with many initiatives at the same time. I can understand why you wouldn’t want to take on more. But not including Hispanics in your efforts will limit your company’s growth. Ask yourself: If all your initiatives reached their intended audience and engaged them more effectively and efficiently, how high could you boost sales? How many more consumers could you activate? The right approach, utilizing culturally relevant messaging, will help you optimize your initiatives and maximize your results.
The consumer market is constantly changing and evolving. In order to secure steady growth and success in your organization, it is to your ultimate benefit to change with them or better yet, get ahead of the curve.
