Wednesday, November 23, 2011

Growth of Hispanic Markets

Post contributed by Richard Graves  (some expansion by Ben Bates) -

Companies currently marketing toward Hispanics are seeing revenues increase more than companies who are not.  A study by the Association of Hispanic Advertising Agencies suggests that those who include Hispanic-targeted marketing proportionally see significant benefits.  This information can be a boon to people who decide to start marketing to Hispanics:
  However, the study also showed that only 5% of total print, radio and TV marketing budgets are directed to Hispanic media outlets, while Hispanics account for 14% of adults in the U.S.  What's worse is that more than half of the top 500 agencies currently spend less than 1% of their budget on marketing to Hispanics.
  This suggests that there is a huge upside to the potential of Hispanic marketing in the U.S. It's an underutilized market that media with declining revenues could take advantage of.  And it's a market that is not likely to subside soon.

Source -  Increased Spending on Hispanic Ads Boosts Marketers' Revenue, AJAA Survey Says,

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