Advertisers Are Still Significantly Under-Investing in the Hispanic Audience, Despite ‘Latin Boom’

  Rassegna Stampa, Social
image_pdfimage_print

Brands who fail to future-proof their bottom line by connecting to the cultural nuances of Latino communities with authentic insights; and those who fail to make Hispanic spend integral vs. ancillary to their core growth strategies, will find themselves hitting a brick wall with this powerful consumer constituency.

As two of today’s biggest Latina artists, Shakira and Karol G said in their hit collaboration “TGQ,” the Hispanic consumer will tell brands: “I don’t have time for something that doesn’t do anything for me.”

Right audience, wrong impressions

Going into the 2024 upfront season, marketers, agencies and media partners can address this core impediment to increased Hispanic-targeted ad spend by asking four simple questions.

Is the data capturing consumption nuances?

With Hispanics still leading consumption in over-the-air-broadcast (141 index), big data sets must consider all viewing data. This notion was reinforced by a Nielsen report which concluded that Return-Path-Data-capable homes undercounted Hispanics by 33% and Spanish-language dominant Hispanics by 49%.

Additionally, according to a Pew Research Center survey, a quarter of Hispanics are “smartphone-only” internet users, indicating that they own a smartphone but lack traditional home broadband services. By comparison, 12% of non-Hispanic white adults fall into this category.

Does the data capture in-language consumption?

The Spanish language is the common thread among Hispanics. Research tools must be able to collect data in language, to ensure that the Spanish-dominant segment of this group (close to 50% of total) is represented.

How are Hispanic data sets being validated?

Last year, data validation firm Truthset unveiled research detailing how the overall data industry includes just 58% of Hispanic audiences in the U.S. Not only were 42% of Hispanics missing in third-party datasets, but findings also revealed that 70% of targeted Hispanic impressions were not delivered to the designated audience.

How are you building in first-party brand data?

Some media companies such as TelevisaUnivision are establishing their own identity-based data graphs, built by using a mix of its first-party account logins, IP addresses and set-top box data to resolve its user IDs at the household level. It recently joined forces with Omnicom Media Group to match its advertiser first-party IDs within a data clean room environment, validate audience overlaps and target those audiences in scaled programmatic channels.

For years, the Hispanic audience has been chronically underrepresented in audience metrics, and therefore under-addressed. Meaningful investment growth demands an accurate representation of both numbers and behaviors.

https://www.adweek.com/convergent-tv/advertisers-are-still-significantly-under-investing-in-the-hispanic-audience-despite-latin-boom/

Pagine: 1 2