Wednesday, August 24, 2011 | Edited by Daniel Moores
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Building Trust With Hispanic Consumers Takes Authenticity As the retail industry navigates the marketing waters to reach Hispanic consumers, it is important to remember to "keep it real." That was just one piece of advice Pitbull, a rapper, singer-songwriter and record producer, told attendees at the recent Hispanic Retail 360 Summit in San Diego. "Remember the Taco Bell commercial with the little dog?" he asked. "That is not real." Pitbull, whose real name is Armando Perez, is a first-generation Cuban American who grew up in Miami. Empowering the Hispanic community is an important part of who he is, he explained. "Hispanics, Latinos, whatever you call us; I call us human beings," he said. "We are hard workers who appreciate freedom and appreciate coming to a country that allows us to provide for our families." Tapping into that community needs to be strategic and not by force, he stressed. "You can try to invade, but it's not a culture you invade. It's a culture that lets you in." He further explained that the retail industry needs to combine the community's traditions, culture and an understanding of the struggles of people who stay true to their roots. "The culture is amazing and its buying power is through the roof, but I think it's about more than the buying power. It's about the real people," Pitbull added. His advice was echoed by Jose Luis Prado, president, Quaker Foods and Snacks North America, PepsiCo. He said tapping into the Hispanic market and building brand loyalty among the consumers in that market starts with being authentic. Companies, he explained, need to be open to diversity, understand the Hispanic identity, become part of the community and, in the end, have a mutual respect for the community. "When we combine all that, we will win the trust of the Hispanic consumer; win loyalty," he said. In today's economic rollercoaster, capturing the Hispanic market just makes good business sense. "This is an area that can be the engine for growth that is so badly needed these days," said Prado. Specifically, PepsiCo tackles four points of action to reach the Hispanic consumer. The beverage and snack giant applies product innovation (bringing products from the consumer's former home to the new home); connects mainstream brands with the Hispanic consumer; uses its PepsiCo reach and strengths at the point of service; and becomes part of the community -- not just a company that wants to sell to the community. Industry insiders also have to realize not all Hispanic consumers are the same. You have different nationalities as well as different professions within the market. For example, the blue-collar Hispanic worker is loyal to brands and receptive to advertising, according to Kevin Kilpatrick, founder and publisher of Constru-Guia al dia. But retailers and merchandisers need to keep in mind this particular segment prefers to communicate in their own language. As for Home Depot's experience, the company strives to connect with the Hispanic blue-collar worker through key passion points, said Alejandra Barron, senior manager of multicultural marketing for The Home Depot. For example, the home improvement and construction retailer works to market to this particular consumer in a relevant way, makes shopping easier and comfortable, and constantly and consistently engages the customers. "We really want to develop a relationship with them," Barron said. "We want to engage in a conversation with them, ideally." Regardless if you are targeting the Hispanic population as a whole or a specific subset, the industry needs to remain focused on its audience, and it's never too early to get into the game. "Early adopters have the strategic advantage," said Mary Beth McCabe, owner of Sun Marketing. (Source: Convenience Store News, 08/15/11) |
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Allstate Links With Radio Personality Tom Joyner Allstate hopes to double the contribution its "Quotes for Education" program makes to college-bound students via its partnership with The Tom Joyner Foundation. The Northbrook, Ill.-based insurance company will donate $10 to the foundation for every insurance quote (auto, renters, homeowners and more), up to $200,000, received through Dec. 31. Consumers can ask for quotes online at a dedicated Web site by phone or via an agent. The program continues Allstate's history of investing in initiatives that strengthen Historically Black Colleges and Universities (HBCUs). This is the third time Allstate has linked with nationally syndicated radio personality Tom Joyner for the effort. Allstate also is linked with Joyner to sponsor the Allstate Tom Joyner Family Reunion. Although the deadline for entries for a contest to get tickets to the event has passed, that Web site includes Grammy and Oscar Winner Jennifer Hudson, Brian McKnight, Kenny "BabyFace" Edmonds and Keith Sweat. The Labor Day event takes place at the Gaylord Palms Resort in Orlando, Fla. "In addition to supporting a trusted community partner like The Tom Joyner Foundation, we're also pleased that this program engages families and communities as part of the solution," said Kimberly Turner, marketing manager for Allstate, in a release. The program is part of Allstate's "Beyond February" initiative, which strives to engage African-American consumers year-round, not just during Black History Month. The foundation's primary mission is helping to keep students enrolled in Historically Black Colleges & Universities (HBCUs). Since 1998, it has raised more than $60 million to help keep students enrolled in black colleges, has assisted more than 14,000 students and worked with more than 100 HBCUs. Throughout the week, the foundation announces scholarship winners on Joyner's nationally syndicated radio show. State Farm is also a sponsor of Joyner's radio show, with ads featured prominently on that web site. (Source: Marketing Daily, 08/17/2011) |
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Asian Americans Are Highest Earners Asian Americans who work full-time are 49% more likely than employed Americans overall to earn $100,000 a year or more, according to U.S. Census Bureau figures as calculated by Research Alert. Asians are three times as likely as Hispanics or Blacks to earn six-figure salaries. Nearly two in 10 working Asians (17%) earn $100,000 or more per year, compared to 12% of Whites and 4% each of Blacks and Hispanics. Almost half (49%) of Asians earn $50,000 or more annually, compared to 45% of Whites, 27% of Blacks, and 21% of Hispanics. Men who work full-time earn significantly more than their female counterparts; this holds true for all racial/ethnic groups. The male/female wage gap is smallest among Asians; Asian men are 29% more likely than Asian women to earn $50,000 or more per year. Black and Hispanic men are 50% more likely than their female counterparts to earn $50,000 or more per year, and White men are 64% more likely than White women to earn that much. (Source: Research Alert, 08/19/11) |
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