Wednesday, December 8, 2010

Targeted Approach to Reaching Hispanics Key

Multicultural America provides opportunities for targeted marketing

Marketers need to tailor their strategies to reflect the cultural diversity of the United States rather than adopting a ‘one size fits all’ approach, according to the Association of Hispanic Advertising Agencies.

Market research organization Nielsen predicts that more than half the US population will be non-white by 2050. Currently, the African-American, Hispanic and Asian populations in the United States are responsible for about $299bn of CPG (consumer packaged goods) spending, and Nielsen estimates that this could rise by as much as 25 percent over the next 10 years, to $373bn in today’s money.

The Association of Hispanic Advertising Agencies (AHAA) said that savvy marketers, including the likes of General Mills and McDonald’s, understand the value of targeted marketing for different cultural groups.

AHAA chair and COO of Bromley Communications Jessica Pantanini said: "Trying to be all things to all consumers not only waters down the communication but also waters down the results. The population is definitely more multicultural but that only reinforces the need for customized, one-to-one communication.”

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