Don't Overlook This

..segment of the population.

It is the fastest growing minority in the United States and has been unfairly ignored. I'm talking about the Hispanic or Latino population.

Recently I added another advertising option for my clients and potential clients to consider along with the radio station options that I've been offering for the past 6 years. Here's how it began:

One of my radio stations was an AM News/Talk station that aired a Spanish Language music program, "Radio Latino" on Saturday & Sunday nights from 10pm to midnight.

Due to the success of that brokered time, the hosts wanted to expand and they ended up with 21 hours a week from 9pm to midnight, 7 nights a week. Then, the owners of the station, dropped the news/talk format and went to what is called an Adult Standards format and with the switch, the Hispanic radio show was also dropped.

A few years later another group of investors started a Hispanic radio station in Fort Wayne, but it has been plagued with problems and I caution folks from using it. Instead, there is another way that businesses can effectively reach the Hispanic communiity in our area and that is with the monthly newspaper that is celebrating 15 years of steady growth this month.

El Mexicano is published by the same man who used to host Radio Latino on our radio stations, which is how I first met him and was introduced to this pulication.

Each week, I continue to see more and more reasons why a business should consider advertising to this community and now you can by contacting me at Scott@ScLoHo.net . In the meantime, look at this from Mediapost:

According to custom week-by-week data from Experian Simmons, reported by Univision Communications, 34% of Hispanics are optimistic about their finances in the coming year vs. 25% of non-Hispanics, and 29% of Hispanics are more positive about the U.S. economy in the coming 12 months vs. 21% of non-Hispanics. The report reveals consumers' reaction to today's economic climate from a total market and Hispanic consumer perspective.

Ceril Shagrin, executive vice president, Corporate Research, Univision Communications, observes that "The volatility of the current recessionary economy has created a need for more current week-by-week data... (to) capture changes in consumer behavior and purchasing patterns... " allowing marketers to take an in-depth look at real-time information... for a better understanding of the impact on consumers.

The results from the past 65 weeks, says the report, indicate that while the overall consumer mindset is increasingly negative, Hispanics are more optimistic in the period following the "meltdown," versus prior to September 29th, 2008:

• 29% of Hispanics are more positive about the U.S. economy in the coming 12 months vs. 21% of non-Hispanics
• Hispanics average consumer confidence rating is 11% higher than non-Hispanics, and has remained constant since 2005, while non-Hispanics confidence rating has declined

Study results show contributing factors to why Hispanics are less affected by today's economic climate:

• Only 45% of Hispanics have/use credit cards vs. 71% of non-Hispanics
• Hispanics are 44% more likely to use cash to pay bills than non-Hispanics (Index 156 to 91)
• Hispanics are almost 2x as likely to rent their home as non-Hispanics (44% vs 23%), and are less likely to be impacted by the high percent of mortgage foreclosures

The findings highlight Hispanics as a key target consumer for advertisers, says the report:

• Hispanics are consistently more frequent shoppers than non-Hispanics (34% vs 29%)
• Twice as many Hispanics are willing to pay for branded prescriptions as non-Hispanics (31% vs 15%)
• Hispanics are 38% more likely to buy from an advertiser than non-Hispanics (Index 131 to 95)

And Mediaweek writes that not only do Hispanics have a more positive attitude (about the economy) than non-Hispanics, but they go shopping more frequently compared to non-Hispanics and Hispanics are more willing to pay for branded prescriptions than non-Hispanics.

Continuing, Mediaweek says that advertising carries a lot of weight with Hispanics, who enjoy TV spots and remember touted products when shopping. Hispanics are 38 percent more likely to buy from an advertiser than non-Hispanics, seeing it as a source of information, not a nuisance. Univision notes that one casual dining space advertiser saw a sales lift of 23% by targeting Hispanics.

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