The IAB’s Multicultural Council kicked off Clicko-De-Mayo, it’s first-ever U.S. Hispanic Marketing Agency Day, on May 5, 2011. The standing-room-only event took place at KPMG’s offices in New York where over 174 marketers and media outlets gathered to talk about the growth of the Hispanic online market. The event was sponsored by Telemundo, Terra, impreMedia and Univision. Representatives from each company presented their insights and findings on the growing U.S. Hispanic market.
Seneca Mudd, IAB’s Director of Industry Initiatives, welcomed attendees and delved right into the theme of the day – how one just can’t afford to ignore the Hispanic market. He also reminded the council to submit their top notch creative to the IAB MIXX Awards.
Charlie Echeverry, Univision, focused his talk on acculturation. Acculturation is the process of adopting cultural traits and patterns of another group. He stated that acculturation is more than just speaking Spanish; it is about learning a culture’s values, tradition, music and food. Hispanic culture is affected by geography, time spent in their country, where they were born, education, income level and whether they are married. Spanish media satisfies the Hispanic cultural appetite whether it be by music or videos. Companies have a unique opportunity to make their content bilingual and fit the needs that Hispanics have an appetite for.
Liz Saracheck Blacker, Terra, dissected the 2010 Census by revealing some interesting key takeaways to prove the need to be in the Hispanic market: 1) Hispanics are 43% of the total population 2) Nine states doubled in hispanic growth in 2010 with Texas having the most growth coming in at 4.3 million people, 65% being Hispanic. 2.791 million Hispanics made up the growth in Texas, which means Hispanics comprise 37.6% of Texas 3) One in four births are Hispanic. Hispanics registered the largest increase in children at 4.8 million 4) Political implications: In 2010 more than 6.6 million Hispanics voted, while there were 2.9 million fewer white votes.
Luis Romero, Telemundo, started his presentation with an online video from “Mun2,” where Hispanics are seen talking in Spanish and English fluidly. He pointed out that Hispanics love to be in their community, but they are definitely living in two worlds, embracing others as well. Young Hispanics, ages 18-24, are an “always connected” generation. 87% of Hispanics love streaming video on the internet. This is a very high percentage which is why Telemundo creates web content first and then TV. Hispanics are over-indexing on digital media consumption: 94% have access to the internet at home and 87% own a mobile phone. With regard to social media: 54% of Hispanics are on Facebook vs. 49% of the rest of the marketplace. 11.4% are on Twitter vs. 10%. And 45.5% are on YouTube vs. 38%. In general, U.S. Hispanics are more digital savvy and social beings than the general market. Honing in on mobile—Hispanics are more receptive to mobile advertisement than non- Hispanic groups, and they are more likely to own smartphones.
Mary Zerafa, impreMedia, went behind the numbers to dispel the myths. She talked about the changing demographics. The Hispanic market is growing and the general market is shrinking. Additionally, Hispanic culture is more prevalent today than it ever was. 84% agree that culture is being instilled into their children and they are proud to be Hispanic. Hispanics are influencing food, music, sports, products and what we buy. According to eMarketer, Hispanics texted, video- gamed, and downloaded music and photos more than Caucasians and African-Americans. Mobile phones are their preferred way to connect to the internet, with 30% of women texting vs. 21% by men. Lastly, Hispanics are most likely to use Netflix, YouTube, and iTunes.
Panelists concluded that out of the total estimated $25 billion spent on online advertising in 2010, barely $300 million was spent on Hispanic initiatives. With Hispanics accounting for one-in-six residents, over-indexing for digital media consumption, and remaining aggressive early adopters and experimenters, this needs to change. Co-Chairs of the IAB Multicultural Council, Borja Perez, Telemundo and Mark Lopez, Google, closed out the event by emphasizing the need for advertisers to take advantage of this growing market. Hispanics are unique. When launching new technologies, one must include the Hispanic market as well or risk being left out.
After the conference, guests made their way to a sumptuous networking reception at the Sea Grill, in the heart of Rockefeller Center, where they enjoyed food, music and great company.