Unchartered Territory and The Latino Effect

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“President Dwight D. Eisenhower established the National Aeronautics and Space Administration in 1958, partially in response to the Soviet Union’s launch of the first artificial satellite the previous year. NASA grew out of the National Advisory Committee on Aeronautics (NACA), which had been researching flight technology for more than 40 years.” (Nasa, 2013)

The rest is history. To boldly go where no man/woman has gone before is a journey in bravery, positive thinking, and dynamic vision. In the race for influence and engagement, today’s marketers and communication specialists are striving for new growth and impact. Cultivating fresh land of attention and interest combined with planting seeds of reach are but a few of the many responsibilities of today’s modern day farmer of resonance. Everyone from brands, political startups, new media outlets, massive open online course platforms, and various champions of innovation to students and leaders of academia are exploring unchartered territories across a wide array of industry. What these individuals and organizations have in common is a desire for the prolific and real growth. Sometimes, during these kinds of efforts, a big fat purple elephant lies smack in clear view begging for a little love.

Imagine an opportunity in plain sight where the possibilities are real. In fact, how about a $1.5 trillion dollar sized pie of real potential? There are a few brave brands that have explored this arena of national influence and importance while others forge on without a dose of reality that lies at the very heart of IMC.

Integrated Marketing Communications (IMC) can be defined as “The process of developing and implementing various forms of persuasive communications programs with customers and prospects over time. The goal of IMC is to influence or directly affect the behavior of the selected communications audience” (Wikipedia, 2013).

There is a group that was recently touted as the most important swing state in American politics. But guess what? The state we’re talking about is no state at all. In fact, if it were a state it would be the size of a small country. The 16th largest economy in the world to be exact. Ahead of Turkey, Australia, Argentina, Saudi Arabia, and South Africa. We’re talking about a population group that has more per capita spending than BRIC (Brazil, Russia, India, and China) countries at around $31,135.

Say hello to the burgeoning Latino market.

The U.S. Hispanic market is comprised of young individuals who embrace new technology and social media at a rate faster than that of non-Hispanics. 50,000 Hispanics turn eighteen every month. The number of Latinos in the U.S. now numbers over 50 million with approximately 32 million of them online. Furthermore, 21% of Millennials are Latino. Few of us would tend to argue the fact that Millennials are influencing major purchases of their younger and older counterparts. America is becoming increasingly diverse. Especially, when the average age of Latinos is approximately 27 making them one, if not, the youngest population segment in the United States.

Talk about a huge population segment with tremendous opportunity for real influence and growth.

But what are marketers doing? Allocating around 5% of their total ad budget. What would happen if marketers shifted their focus from business as usual to embracing opportunities for new growth via multicultural marketing? A few champions come to mind and include the likes of Tide, Pepsi, Best Buy, and Kraft. These are a few of the brands that are taking into real consideration the opportunity that is the U.S. Hispanic market.

Say “Si” to this massive and real opportunity for bottom line growth.

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