Why Choose an CMC Member?
According to Sir Martin Sorrell, CEO of WPP, “Hispanics are the new mainstream. In fact, all U.S. clients say their growth will come from the U.S. Hispanic market.” In other words, Hispanic America represents enormous opportunity and possibility for growth:
- According to a 2017 Nielsen report, Hispanic buying power reached $1.4 trillion in 2016 and is expected to reach $1.8 trillion by 2021.
- A 2011 study revealed a connection between consistent and significant investment allocations of more than 14.2 percent in Hispanic marketing yielded topline revenue growth. In fact, companies that allocated one quarter of its ad spend to Hispanic media over five years would generate annual revenue growth of 6.7 percent. But this is not a one-size-fits-all market.
- A 2014 study found that Upscale Latinos (defined as household income of $50-$100K) account for 40 percent of Hispanic buying power – what’s more, they are pursuing luxury and fueling growth in mid-market department stores, prestige cosmetics and casual dining . However, they have different purchase motivators and turn-offs than their upscale counterparts – as do Hispanic Millennials, with their voracious appetite for mobile technology.
Marketers are faced with new challenges and need to take greater measures to understand cultural nuances… and get their messages right.
That’s why it is critical to have the right culture marketing specialists that understand the cultural DNA of Hispanic consumers to help you attract, engage and achieve ROI. CMC’s members are the leaders, influencers, trendsetters and creative forces of the Hispanic industry – they are trusted experts vetted by CMC’s Board of Directors.
1 AHAA 2011 Budget Alignment
2 AHAA/Nielsen 2014. Upscale Latinos 2.0: A Renewed Outlook for High-End Marketers