If a brand wanted to reach out to the increasingly important Latino consumer, there were always a variety of traditional tools to grab -- traditional being the key term. Historically, little importance had been placed on Web-based marketing. But those days are over.
TNS Media Intelligence reports that during the first 10 months of 2008, Hispanic online display advertising pulled in almost $212 million, up from about $165 million for full-year 2007. That $212 million represents slightly more than 4 percent of all Hispanic media ad spend during the same January to October 2008 period.
Why now? Hispanic online space has been gathering momentum for some time, but "it's been topical in 2008," says Bruce Eatroff, a partner in Halyard Capital, a private equity fund whose holdings include the Hispanic news and information company ImpreMedia.
Far more immediate forces may be at work, too -- specifically, the recession. The budgetary constrictions caused by the economic climate have apparently compelled many brands to look at online marketing strategies because of their cost effectiveness.
There's still another -- and far more basic -- reason why brands are taking a closer look at Latinos online these days: There are simply more of them online.Overall, 48 percent of all Hispanics in the U.S. have broadband online connections. Sure, that's nine percentage points less than the population as a whole (57 percent), according to a January 2008 survey conducted by Horowitz Associates for its "State of Broadband Urban Markets 2008" research report. But the survey's data also show that 68 percent of Hispanics with a preference for the English language (predominantly younger ones, who are a key demo target to start with) have broadband access.
Increasingly, streaming media is another direct plug-in to more of the Latino population. On Yahoo! Telemundo video streams were up 67 percent in October 2008 versus the same month in 2007. Unique users were up 103 percent during the same period.
Still, brands that shift attention to Hispanic-geared online efforts face a number of hurdles.
(This article is quoted from AdAge, January 12, 2009, Janet Stilson)
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