Ignore the Hispanic Consumer at Your Peril, Says Glenda Villanueva-Marchetta

quota4 Advertising is the national audiencedriven multiscreen ad division for parent company Altice USA one of the largest broadband communications and video services providers in the United States with operations in over 20 statesquot VillanuevaMarchetta explainedOver the past few years Altice has also purchased several data companies which in addition to the granular data provided by its footprint enables a4 to offer advertisers hypertargeting opportunities on a national level as well quotOur super power is our proprietary ISPauthenticated IP targeting technology which is unique to usquot she continued This enables a4 Advertising toamp160quotmarry our IP addressability with multicultural audiencesquotChanges in the Media MarketplaceIn assessing the state of the current marketplace with all of these seismic society changes and pandemic challenges VillanuevaMarchetta is introspective quotThere have been so many changesquot she reflected quotFrom a personal standpoint working from home has changed everything with screen time in place of persontoperson meetings Telling a Latino to social distance it just goes against our social beingquot Not surprisingly major adjustments occurred in the corporate landscape as well quotIn terms of business our clients39 needs have changed so internally we are addressing those needsquot she said quotCOVID19 and the social movements and PII regulations and need for flexibility have refocused the way we serve our clientsquotGenuine connection to multicultural consumers is more important than ever and the social movement has given us a voicequot VillanuevaMarchetta continued This change is not only growing it is forming new alliances quotSomething that I find exciting is that all of the different groups are aligning and allying with each otherquot she stated quotOur customers brands and ad agencies are looking to connect to multicultural consumers in an authentic way I also think they are acknowledging that they need more flexibility than ever to address changing timesquotPriorities for 2021In looking ahead to next year VillanuevaMarchetta sees a new type of media marketplace quotMaybe Upfront buys will change in the futurequot she notedamp160quotYou have to be able to pivot plans Pivoting without penalties is critical and pivoting your budgets and creative we realize that we have to be nimbler than in the pastquotamp160The future also brings more of what we are seeing during the pandemic such as quotdevice proliferationquot she explained quotWe are using more screens than ever to watch content so we need a strategy for reaching consumers on all platforms There is greater competition for consumer attentionquot Sheamp160added that it was important to reach consumers in the language that they are speaking in and where and when they are consuming contentquotIndustry regulations are changingquot she continued quotWe have to refocus our thirdparty cookie campaigns That39s going to be a priority also for 2021 Digital campaigns now need to place an emphasis on using firstparty data There are a bunch of things coming together at once at the end of this year and moving forward into 2021quotFor VillanuevaMarchetta quotdata driven advertising because it is addressable is efficient So when you are looking to do more with less this is the best way It is an audiencedriven play ISP IP addressability will definitely play a bigger role going forwardquotThe Hispanic Market ExplainedIf there is one ethnic group that advertisers cannot afford to ignore it is Hispanics There are about 64 million Hispanics in the US representing around 20 of the population It is one of the fastest growing segments and represents about 2 trillion in buying power quotTo put it into context the US Hispanic population is larger than Canadaquot VillanuevaMarchetta noted quotIf it were a separate Latin American country we would be the second largest and wealthiest in the worldquot In the next five years the nonHispanic white population of the US is set to decline while the Hispanic population is poised to grow quotNegative 13 million versus positive 66 millionquot she saidamp160quotThis growth isn39t stopping The growth has and will continue to be from birth rates not from immigration One in every three in the Alpha generation is HispanicquotSeventy percent of the Hispanic population is bilingual and even among the younger generations the language is not lost quotThere is a misconception that if you are born in this country that you are not using Spanish anymorequot she said quotThat39s not the case We hold our culture very dear to us Speaking Spanish at home especially to your elders is a sign of respect It is also a competitive advantage to speak the two most widely spoken languages in the US and It39s easier to mingle when you are bilingualquotHispanics account for 63 of all US home ownership fueling purchasing behavior in all of the consumer products and services that go with that lifestyle Further quotwe represent 81 of the labor force growthquot VillanuevaMarchetta shared And Hispanics are influencing the overall culture as we saw at the Super Bowl this yearWhy Target Hispanic ConsumersWhen I asked VillanuevaMarchetta this question she explained quotAs a brand as an advertiser it is crazy to continue to advertise only to a segment of the population that is declining and not advertise to a segment of the population that is growing We are not only growing in size we are growing in wealth and in influence Thirtytwo million of us will be eligible to vote Look at the numbers Look at the buying power Look at the money that is there If you are a company looking at your fiveyear plan and you are not considering multicultural how will you grow your businessquotI don39t see howquot she concludedClick the social buttons to share this story with colleagues and friendsThe opinions expressed here are the author39s views and do not necessarily represent the views of MediaVillagecomMyersBizNet

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Ignore the Hispanic Consumer at Your Peril, Says Glenda Villanueva-Marchetta

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Ignore the Hispanic Consumer at Your Peril, Says Glenda Villanueva-Marchetta

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