Hispanic digital media spend will surpass print and radio, as in the general market. Digital media spend in the Hispanic market will continue to remain far behind TV, radio and print (approximately 5% in 2011). With all the talk about increased spending on Hispanic digital by agencies and marketers alike, we will look back on 2012 and see digital spend stayed well below double digit territory and is nowhere near surpassing radio or print (as we saw in the general market in 2011).

Hispanic ad spend will stay flat in 2012. If there is one prediction you can take to the bank, it’s this one – Hispanic media ad spend will grow in 2012 (compared to 2011). While there is still concern over a double-dip recession in 2012 (particularly as things unravel in Europe), the 2012 elections and the juggernaut that is Univision will assure growth in the market. Portada recently released a report projecting 4-5% media growth in the Hispanic market based on a survey of Hispanic marketing professionals. I think this is conservative.

Marketers will increase their budget allocations to the Hispanic market. Although the previous prediction would logically lead most to believe that marketers will increase their Hispanic budget allocations (the percentage of their overall marketing budgets directed at the U.S. Hispanic market), the sad reality is that things will remain status quo when it comes to the approach most marketers take to allocating budgets to the Hispanic market. Most of the growth in Hispanic ad spend in 2012 will be driven by new entrants into the space – led by political advertising (not just candidates – but the also super PACs – all of whom are finally paying attention to Hispanic voters). Existing Hispanic advertisers will continue to maintain their Hispanic spend in the same range as in 2010.

Mainstream digital publishers will stop launching English-language “Latino” Websites. The last 2 years have seen major media companies jump into the Hispanic digital space – targeting the oft discussed bicultural and English dominant Latino, including FoxNewsLatino.com. NBCLatino.com, and The Huffington Post Latino Voices. Some might assume the space is now crowded, or that competing with media powerhouses like News Corp, AOL and NBC Universal is futile. Well, I see more of these “Latino” extensions coming in 2012. Why? The barrier to entry is so low. With digital, unlike the offline world of broadcast or print, there is very little capital costs (if any) associated with launching a new publication. Sure, a good Website infrastructure is not cheap, and producing quality content is not easy (or inexpensive), but compared to the printing and infrastructure costs of launching a new Spanish-language daily or the licensing fees associated with launching a new Spanish-language radio station, the costs are marginal and worth the risk. One interesting ramification of this new media growth will be that there will be many more options to reach English-speaking Latinos than ever before.

Mobile will finally become a key part of the Hispanic marketing mix for most advertisers. “2012 will be the year of Hispanic mobile marketing.” I’m sure you’ve heard or read this somewhere. With all the data on Hispanics’ heavy use of mobile and major growth in general market mobile marketing, it stands to reason that Hispanic mobile will come of age in 2012. Unfortunately, this is a major case of all bark and no bite. I see a couple of problems with these naïve predictions. # 1: Where will the money come from? With most mobile media programs funded out of digital media buckets, and Hispanic digital media spending in the 5-6% range, mobile marketing programs will be hard pressed to find funding in an already dry well. #2 With so much of the growth in mobile activity being driven by mobile Web browsing and tablet use, I do not anticipate significant investment on the part of marketers into Hispanic mobile- and tablet-optimized sites (when most hardly keep up their browser-based Hispanic Web and microsites) #3 Hispanic mobile and social media are inextricably intertwined, and Hispanic social media is still in its infancy (see below).

Clients will continue moving their Hispanic advertising to general market shops. As the economy slowly starts improving in 2012 (I’m an optimist), I expect there will be less pressure on marketers to consolidate their general market and Hispanic advertising programs in one ad shop. Equally important, many veteran Hispanic marketers who consolidated will likely miss the attention to detail and specialized resources they got from Hispanic ad agencies compared to the Hispanic divisions of general market shops. Finally, I think general market shops are less excited about investing in Hispanic capabilities and divisions after experiencing how little budget is actually allocated to these programs. 5% of a client’s marketing budget is not too exciting when you already have 95% of it.

Hispanic social media will become a major force in the industry. Again – lots of buzz, but very little substance to back it up. While 2010 and 2011 have seen a lot attention placed on engaging Hispanics in social media, with the establishment of two rival Hispanic social media organizations and countless blog networks touting thousands of influential Hispanic bloggers, the space is still in its infancy and will take a while to catch up to the general market in scale and sophistication. While I applaud the efforts of organizations like LATISM, Hispanicize, and Latina Bloggers Connect among others, large reach and national marketer scale is still missing from the space. Specifically, as more and more Latinos start blogging and building large networks on Facebook, Twitter, and Linkedin, there is a key missing ingredient –an audience of millions of Latinos consuming their content. Until that happens, Hispanic social media will be a niche within a niche.

We won’t see any new Hispanic advertising agencies open their doors in 2012. No matter how challenging or competitive the Hispanic ad industry gets, it always amazes me that new Hispanic ad agencies, PR shops, and other marketing agencies are launched every year. I don’t have an official count, but I know of at least a dozen or so shops launched between 2009 and 2011 (in arguably the most challenging 3 years the industry has faced). It’s quite a testament to the resilience and constant innovation within the industry that optimistic entrepreneurs see opportunities to make a better mousetrap in our business.

I think 2012 will be a good year for our industry – filled it’s fair share of challenges, but more importantly, opportunities to grow and prosper, as Hispanics become a bigger and more integral element of the American corporate and cultural life.

(an edited version of this article originally ran on MediaPost’s Engage Hispanic blog on January 5, 2012)

Hispanic social media continues to be one of the hottest topics in the business of Hispanic marketing. More and more data comes out every week about Hispanics and how they use social media. A steady flow of conferences, panel discussions, and interest on the part of marketers and their agencies has kept the subject top of mind for the last 18 months. I wonder if all this excitement is missing the mark because we’re still looking at the opportunity from the lens of Hispanic marketing circa 1990?

It’s helpful to take a step back and think about why the Hispanic marketing industry exists. Hispanic marketing exists primarily for 3 reasons: Language, Population size, and Culture.

The Spanish language was the original nexus for this industry, and even today, most Hispanic advertising is in Spanish and runs in Spanish language media. The size of the Hispanic population has elevated it above other ethnic groups in a country of immigrants – its population growth continues unabated into 2011. Cultural (behavior and beliefs) differences between Hispanics and mainstream Americans have created challenges for all series of organizations looking to tap into the opportunity of this perpetually emerging market.

However, when we look at social media, do these distinctions between Hispanics and the rest of the U.S. apply? Starting with population size, the market opportunity in social media does appear to be as compelling as in the analog world. Large percentages of Hispanics are online and using social media – so there is scale to justify the attention. And there is a lot of data pointing to the fact that Hispanics tend to have more friends, followers, connections, etc. – a direct translation of their larger offline social networks. But size alone does not make a market – a large group of people with Latin surnames using Facebook, Twitter or YouTube is not in itself a marketing opportunity

So we turn to language. Most online Hispanics are comfortable reading and writing in English. We know half of all U.S. Hispanics were born in the U.S., and with a large youth population, we can infer that more and more Hispanics will be able to navigate their digital lives in English. Moreover, since social media is in essence an amalgamation of content created by consumers, there are no Spanish-language versions of social networks, micromedia, or video sharing sites. There is no channel 34 of social media.

Lastly, are there cultural – behavioral and belief – differences between Hispanics and the mainstream market that result in different social behavior? Can we say that large swaths of 20-30 million Hispanic who are online exhibit some distinct social media behavior that would create an opportunity to connect with them? Do they update their status differently on Facebook or create different tweets? Do they join different groups on LinkedIn or not enjoy watching kitten videos on YouTube as much as everybody else? Do Hispanics view social media differently- Do they read or write blogs for different reasons?

I wonder if these mostly demographic distinctions, which were the basis for the modern Hispanic marketing industry that started in the 1960s, are the right way to approach Hispanic social media? In an environment that empowers consumers to create content and connect with others who share common interests, passions, and experiences – maybe we need to reframe the discussion?

Are we missing the boat by focusing on Hispanic demographic and behavioral distinctions? Is Hispanic social media really all about psychographics – and tapping into digital psychographic communities?

Let’s look at what is distinct about Hispanics in social media? An easy one is that Hispanics are organically part of Hispanic communities online. Stated another way, if you’re Hispanic and using social media, you’re more likely to have friends, connections, followers, etc. that are Hispanic. So what? Well, there is a network and amplifier effect – reaching a Hispanic in this environment has the potential to virally reach other Hispanics who are connected to each other.

Digging deeper, there is something even more distinct and powerful about Hispanic social media use – the ability to connect with others who share similar life experiences and interests. What is the quintessential shared experience among all Hispanics? I would argue that it’s the fact that we live in two worlds – our ethnic world defined by either our or our parents/grandparents’ home country and our mainstream, American world. This cuts across the Hispanic acculturation spectrum. If you believe that we are the sum of our life experiences, then there is a potentially powerful connection among tens of millions of Hispanics living in the U.S. that social media has the potential to tap into.

Lastly, social media has provided Hispanics with the ability to find and create content that matters to them – highly niche content beyond the cookie-cutter “Hispanic” content created by Hispanic TV, radio, magazines, and newspapers that was designed to be all things for all Hispanics. Remember, Hispanics are a highly diverse group in the U.S., from 22 different nationalities, who now live across this varied country, who speak differently, eat different foods, and have very different passions. The long-tail world of social media content has created a conduit for these hundreds of Hispanic sub-groups to connect with each other digitally.

So how can marketers and brands successfully utilize social media to reach Hispanics? I will delve into that subject through new research on our Hispanic Personas project. I am going to be unveiling this groundbreaking Hispanic Persona project that will delve into the psychographics of social Hispanics at the Hispanicize 2011 Conference in Los Angeles on April 7.

My next MediaPost article will introduce some toplines of that research, but the full research will only be available at Hispanicize 2011.

I made the bold prediction almost a year ago today that Hispanic marketing was in for big changes in 2011. I have to admit I think I will be proven wrong.

I think 2011 will result in even more changes than I boldly forecast last year. In fact, I think by the time 2012 rolls around, we’re barely going to recognize the Hispanic marketing space that has seen tremendous growth (more people, more media companies, and more agencies) but changed very little since 2000. Here are my revised, emboldened predictions for Hispanic marketing in 2011:

Prediction #1 – The death of the Hispanic advertising agency
2010 was most definitely the year of the full-on assault on Hispanic advertising agencies (starting with the Home Depot controversy in April, Crispin Porter’s absorption of Burger King Hispanic in August, and the ANA Multicultural Conference controversy in September). 2011 will no doubt see a continued push by general market agencies into the Hispanic market. Not only will they continue this push by staffing up on Hispanic advertising talent, but also through acquisitions (I have firsthand knowledge of at least a few such acquisitions plans from some big ad agency players). Moreover, marketers, particularly those in “minority-majority” markets such as Los Angeles, will begin to follow El Pollo Loco’s lead and consolidate their Hispanic and General Market advertising accounts. Add in the fact that Hispanic ad agencies have been painfully slow in building digital capabilities (they’ve made a valiant “too little, too late” effort during the last 12-18 months), and the writing is on the wall – the start of a slow death for the Hispanic advertising agency model as we now know it.

Prediction #2 – Hispanic PR officially becomes Hispanic Social Media
2010 was also the year that Hispanic PR agencies took the plunge and fully embraced social media as the future of their industry. The success of the inaugural Hispanic PR & Social Media Conference and the LATISM Latino2 tour highlighted the coming of age of Hispanic social media. Hispanic bloggers and social media influencers are establishing themselves as the key centers of influence in the Hispanic community. This was coupled with the continued decline in Spanish print media (magazines and newspapers), which has started to feel the decline in readership resulting from consumer’s shift online and the recession. Looking ahead at 2011, I see a continued decline in Hispanic print coupled with an equally sharp rise in niche and “long-tail” Hispanic digital publishers (whether they are bloggers, Facebook influencers, or small Websites) – with what were formerly “Hispanic PR” agencies and professionals positioning themselves as the expert guides of this growing and increasingly prominent Hispanic social media space.

Prediction #3 – Digital leap-frogs “Hispanic”
During the boom years of Hispanic digital (2005-2008), the Hispanic digital media market looked a lot like the Hispanic traditional media landscape – a handful of prominent Spanish-language portals / mega-publishers that owned the market (e.g. Batanga.com, Univision.com, Terra.com, and Starmedia.com), surrounded by a lots of smaller upstart ad networks (e.g. Gorilla Nation, HispanoClick, Consorte Media) and a handful of general market publisher extensions into the Hispanic market (e.g. ESPNDeportes.com, CNNEspanol.com, etc.) that got the scraps. During the last 12-18 months, the Hispanic digital media market has fragmented, led by technology such as behavioral targeting, demand side platforms (DSPs) and ad networks with immense scale and reach. While the Univision.com’s and Terra.com’s of the Hispanic digital media market will not be going away anytime soon, their days as “market makers” are numbered. Looking ahead, as Hispanic digital media consumption becomes more social (Facebook) and personal (mobile), and mirrored Spanish Websites /microsites become a relic of the past (recent AOL research and Best Buy’s well chronicled experience shows that Hispanic consumers have come to view Spanish sites as inherently inferior to “main” English language sites), the Hispanic digital marketing space will be unlike anything veteran Hispanic marketers have grown accustomed to seeing in their analog Hispanic world.

Prediction #4 – The multicultural mainstream becomes a reality
Multicultural consumers already make up 35% of the entire U.S. population. Guess what will happen to that percentage when the 2010 Census numbers come out this spring? Welcome to the new “multicultural mainstream” – a new America where close to 40% of the overall population is multicultural (Hispanic, Black, Asian and multi-racial). DMA’s like Los Angeles, Dallas, Houston, Miami, Atlanta, and Washington, DC are already “minority majority” markets (Hispanics, Blacks and Asians combined make up more than 50% of the total population) – expect cities like New York and Chicago to join the list in 2011. This will only put more pressure on advertisers, particularly regional ones, to re-assess how they allocate marketing resources to ethnic groups like Hispanics. My theory is more of the “El Pollo Loco” phenomenon from Prediction #1 – as advertisers consolidate their Hispanic (and other multicultural marketing efforts) with their general market ad agencies.

Prediction #5 – The birth of the Hispanic Youth Market
The last few years have seen a steady increase in dialogue, events and attention among marketers about the Hispanic youth market (Hispanics under the age of 24). The statistics are already mind-boggling:
• In 13 years, 50% of Americans under 18 will be minorities (Source: U.S. Census Bureau)
• 80% are US-born (Source: University of California, San Francisco)

I predict that the 2010 Census figures regarding Hispanic Youth will be the most unexpected… and growing. Yet the Hispanic youth market represents a conundrum for Hispanic marketers – a growing market that increasingly identifies and shows pride in its Hispanic heritage but consumes very little Spanish-language media and sees the world through color-blind lenses. This will be the toughest nut to crack for marketers and advertising professionals of all stripes – general market, Hispanic, digital, direct response, social media and everything in between. Yet I see Hispanic youth as the biggest marketing opportunity to come out of 2011.

Think of 2011 as the year of creative destruction in Hispanic marketing – some things will die, a lot will change, and brand new opportunities will sprout from the ashes.

As digital continues to turn the advertising world on its head, you’ve no doubt heard digital marketing evangelists talk about the need to “lead with digital.” What they are typically referring to is 180 degree change away from the common marketing approach of starting with traditional marketing programs and then extending them to digital channels. The argument being that as digital media (including Web, social and mobile) takes a larger piece of consumers’ media consumption pie and fundamentally changes how they interact with advertising that advertisers must fundamentally change their marketing strategies to align with new digital realities.

There are countless and growing examples of marketers embracing this philosophy – including extreme cases where marketers have completely forgone traditional channels in favor of digital or brands have hired digital agencies as their lead (or only) agency of record. Less extreme examples can be seen in trend towards traditional creative (TV and out-of-home for example) that looks and feels increasingly like online banner / rich media ads or the trend towards driving to the Web or mobile as the primary call-to-action on direct response offline campaigns.

What if a rebellious brand led their Hispanic marketing efforts with digital? The prevailing wisdom in the Hispanic marketing world has always been that digital is important, but not that important, what with a majority of Hispanics still digitally divided or lacking tech sophistication. What would be the fate of such an anti-establishment brand? What would “leading with digital” even look like in the Hispanic market? Let’s deconstruct a Hispanic ad campaign and see some examples of what a digital-driven approach might look like:

Campaign Planning

Campaign Objectives – During the “Mad Men” era of advertising (which I would argue continues to this day in Hispanic advertising), campaign objectives were always a “one-way street” – with objectives like increasing awareness or same-store sales. Digital made advertising a two-way game, and as such, effective advertising has to do so much more. Yet most Hispanic advertising objectives are still about being the loudest megaphone. If a Hispanic campaign started with digital, objectives such as interactivity, engagement, utility and word of mouth would inevitably take center stage (this is not the case for most Hispanic advertising today.) This new set of digitally-relevant marketing objectives lends themselves well to marketing frameworks, such as marketing funnels or consumer journeys, with corresponding metrics and the ability to establish pre-launch campaign projections.

Research – Every good ad campaign, regardless of target audience, starts with sound research. Yet most Hispanic ad campaigns start with analog research (traditional focus groups, consumer research panels, etc). Are their purely digital alternatives? I would argue that there is an incredibly powerful insight “fountain” currently available using social monitoring tools like Radian6 to listen to Hispanic consumers online. Think of it as the world’s largest focus group, except completely organic. With Hispanics heavily engaging in social media, there is a real opportunity to uncover powerful and actionable Hispanic insights. Unfortunately, it’s more work that just hiring a research firm to recruit participants for 4 focus groups or subscribing to a research tool. Taking it one step further, if you can build an online community of Hispanics tied to your brand that you nurture over time, you have the potential to continually tap into a new kind of focus group indefinitely (at a much lower cost)

Concept & Copy Testing – One of the biggest benefits of leading with digital is the ability to make quick and inexpensive mistakes. This is particularly important for brands or companies that are new to or have been out of the Hispanic market for some time (and will need to fine-tune their initial Hispanic programs). While copy testing is anything but new, utilizing text-based ads targeted to Hispanics (by market if appropriate) on Google, Bing and Facebook can provide quick and cheap feedback on concepts, copy and keywords that will resonate with Hispanics. Taking this approach further, creative testing using multiple iterations of banners can provide art direction feedback from a real-life “lab” of online Hispanics. If focus groups are a must, online versions provide valuable qualitative results at a fraction of the time and expense.

Campaign Development

Content Development – A sound digitally-driven Hispanic marketing campaign with objectives such as engagement, utility or word of mouth activity requires a different approach to creative development. A perfectly executed .30 second TV spot combined with a series of radio, print, and out-of-home ads will not be enough to achieve such interactive goals. Instead, creative production must be replaced with content development – a different approach that emphasizes multi-form creative that can live in various formats and lengths that tells a longer story. The content development approach emphasizes producing all forms of content (video, imagery, textual) that can deepen Website experiences, drive social engagements and spur viral communication – all while still providing for TV, radio and print ads. This nuanced, by significant change in approach, is akin to brands thinking like publishers and media companies.

Campaign Launch

Changes in how brands and companies launch and manage Hispanic ad campaigns represent the biggest opportunities in this digitally-led approach.

Digital Pre-launches – Most Hispanic advertising starts offline and then migrates online. Why not do the opposite? Digital creative typically takes less time to produce and digital media can be quickly planned, bought and trafficked, so why not launch pilot campaigns online before extending offline to more expensive, time-consuming and inflexible channels like TV, radio and out-of-home?

Digital pre-launching not only provides an opportunity to test concepts and copy as noted above (including all important questions of language – Spanish, English or both?), but can also provide invaluable data that can inform Hispanic campaign objectives, market selection, and media plans, both offline and online! Pre-launches can be run from a few weeks to a few months, but the benefits can be significant.

Digital Measurement – Most Hispanic marketing programs are evaluated post-mortem: “that network TV buy performed well in Phoenix” or “that print ad failed to drive call-center activity.” Taking a digital-driven approach means prioritizing real-time measurement tools such as third-party ad serving, Web analytics, and social media tracking tools to impact and influence campaign decisions mid-stream. This approach yields info on which top performing digital creative that can influence creative placements and rotations. Web analytics data on campaign microsites and landing pages can provide important geo-market results that can impact media weighting offline.

Hopefully you can see from this quick analysis that leading with digital in the Hispanic market is not about irrationally abandoning traditional media channels. Instead, it’s about drastically changing how Hispanic campaigns are planned, developed and managed. Keeping in mind that a large number of Hispanics are still not online, a thoughtfully executed digitally-driven approach to Hispanic advertising can bear significant fruit and take our industry to the next level.

B2B advertising has seen increased attention during the last few years, primarily resulting from the growth in digital marketing. Digital media, and specifically search engine marketing, have provided companies that sell products and services to businesses and professionals the opportunity to target their messages and offers to the right audience (usually the decision-maker or buyer) in the right industry (or companies) with a high level of precision.

With the growth in B2B advertising, one segment of the B2B market has been noticeably absent from the discussion: advertising to Hispanic-owned businesses (which I will refer to as simply Hispanic businesses). The topic of Hispanic businesses usually results in more questions than answers:

• Are there really that many Hispanic-owned businesses?
• Are there really that many Hispanic-owned businesses?
• Aren’t most Hispanic businesses small “mom and pop” sole proprietorships like single-location restaurants or dry cleaning businesses?
• Do Hispanic businesses even represent a viable market for my product or service (e.g. we sell CRM software to mid-sized companies)?
• Don’t my existing B2B programs reach Hispanic businesses?
• Even if I wanted to reach Hispanic businesses, aren’t they simply too niche to efficiently target with advertising?
• Do I need to advertise differently to Hispanic businesses?

So should B2B marketers pay more attention to Hispanic businesses? I would argue yes. Let’s start with answers to those common questions, or barriers, about Hispanic businesses.

Are there really that many Hispanic-owned businesses? – There are approximately 2 million Hispanic-owned businesses in the U.S. that generate almost $300 billion in annual gross receipts. By the end of this year, there will be 3.2 million Hispanic firms generating $465 billion (Sources: SBA, HispanicTelligence®). That number is expected to balloon to 4.3 million by 2012. In fact, as of 2007, 1 out of every 10 small businesses in the U.S. is Hispanic-owned (Hispanic Trends).

Aren’t most Hispanic business small “mom and pop” sole proprietorships – More than 50% of Hispanic businesses have 25 or more employees (U.S. Census Survey of Business Owners, 2002).

Do Hispanic businesses even represent a viable market for my product / service? – Hispanic businesses are in a variety of industries and range from the start-ups to large public companies, and therefore consume every imaginable business product or service. However, Hispanic businesses are concentrated in the following industries:

Don’t my existing B2B programs reach Hispanic businesses? – The short answer is yes. The successful Hispanic is bilingual (> 75% of Hispanic business owners / decision makers speak excellent English), and existing general market B2B advertising programs no doubt reach them. The question is do they effectively impact and engage them in meaningful way. I would argue no, and as there is an opportunity to tap into the unique experiences, challenges, perspectives and attitudes of Hispanic businesses with advertising built around unique Hispanic business insights. To put it another way, 44% of Hispanic businesses are owned by individuals of Mexican origin – do you think their experience as a business owner is different from their Anglo counterparts?

Aren’t Hispanic businesses simply too niche to efficiently target with advertising? – There has historically been a very real issue around the lack of viable traditional paid media properties that reach a mass audience of Hispanic businesses. I would argue that there are only 1 or 2 viable traditional publications that effectively reach large numbers of Hispanic businesses (Hispanic Business and Poder/Hispanic). However, digital media, including search engines, display media, performance and behavior platforms and social media have created new ways to effectively reach Hispanic Businesses.

Do I need to advertise differently to Hispanic businesses? – As I mentioned earlier, Hispanic businesses can be reached with general market B2B advertising, but not addressing the unique experiences, perspectives, attitudes, and challenges of decision-makers at these companies is really missing out on an opportunity to engage them in a meaningful way. The last question really gets at the heart of the untapped opportunity to market to Hispanic businesses.

To illustrate this, I’ve put together the following Hispanic business pyramid:

There is generally a direct correlation between the size of a Hispanic-business, who runs them, what their immigrant status, and what their acculturation level is.
So what is a B2B marketer to do? I would suggest the following approach:

1. Do some market research and try to figure out whether Hispanic businesses represent 10% or more of your market? (Some simple Census data will do the trick, especially with the “2010 Census Survey of Business Owners – Hispanic Business Owners” coming out in September). If yes, move on to step 2.
2. Figure out what segment of the Hispanic business pyramid you are targeting
3. Delve deeper into your segment and identify key insights among those Hispanic business decision-makers vis-à-vis your products/services
4. Consider customizing your products / services to address the Hispanic insights you have identified
5. Launch digitally driven, integrated advertising programs that allow you to cost-effectively reach and engage Hispanic businesses.

Unfortunately, most companies that have attempted to enter the Hispanic business market (banks, insurance/benefit providers, software companies, etc.) have done little else than simple extensions of their general B2B marketing in the form of sponsorships of local Hispanic chambers/professional/trade organizations and B2B networking events. I’ve seen firsthand the benefits and first-mover advantage reaped by health insurance providers and banks that have followed this approach and truly invested in the Hispanic business market.

If you’re looking for a nice overview and intro to the LGBT market, please check out their “Pink is the New Green” post.

As advertising continues to shift away from mass marketing focused on reach and frequency on broad reach platforms like TV that no longer reach everyone, to targeted, niche-driven marketing focused on engagement, it stands to reason that appeal of niches like the LGBT market will increase.

The “Pink is the New Green” piece also addresses how LGBT marketing is evolving from the old days of focusing primarily on events and local print to a more integrated approached leveraging increasingly sophisticated media vehicles like digital media.

I encourage to read the article by clicking here. The article includes some interesting statistics that I am sure will surprise you!

Some of Matthew’s key insights include:
- Teens don’t listen to the radio or read newspapers
- Almost all teenagers have access to the Internet, where they are heavy Facebook users and searchers (and they hate display ads)
- Music is a key part of their lives – they are always listening to it, but don’t like paying for it.
- All teens have mobile phones – which function more like a stereo and text-message machine to them

Shortly before hearing about Matthew’s manifesto, I had recently read an article on how to reach multicultural youth by Tru Pettigrew on Fast Company. According to Pettigrew, multicultural youth “online and mobile consumption and spending habits are outdistancing the general market … almost 2-to-1.”

I found an interesting intersection between Pettigrew’s comments and Matthew Robson’s report on the issue of “access and benefits.” According to Pettigrew access and benefits are the most important drivers of success in marketing to and driving brand engagement among multicultural youth. According to Robson, the key driver to teenage behavior is their lack of money. They want access to movies and music, but will go out of their way to find it cheap or for free. Any brand that is able to give them access to the content they demand cost-effectively, or free, will win their hearts.

One thing is for sure – digital technology is the great equalizer. It gives teens access to the content and information they desire on their terms, whether they are multicultural or not.

At least this blogger isn’t a journalist. I’m a guy who works in marketing and posts something on a blog every once in a while. I have no editor, no fact checkers, and no policies of any sort (my wife corrects my grammar sometimes). A few weeks ago I posted something I had heard from a reliable source. Turns out the source didn’t know the whole story and I made a couple of logical leaps in the wrong direction. By the time someone with all of the facts came around, my version had gotten out into the press. What I wrote wasn’t false or in any way malicious, I just didn’t have the whole story. What’s more, I didn’t have any responsibility to go looking for sources to verify my facts. I’m no journalist, I’m just a guy who works in marketing and has a blog.

George Parker is a marketing guy. He also has a blog. It has a lot of what might be considered unprofessional language in it and also reprints rumors about the advertising industry. He gets a pretty good amount of traffic and has semi-reliable informers. He’s also not a journalist, but he gets a lot of traffic so he may be a “blogger.”

Silicon Alley Insider is one of my favorite blogs. They have several writers and are part of a larger company that owns several blogs. They have editors and paid advertisers. They sometimes post industry rumors and often break out with opinions. They also do things like post little throwaway items that seem designed to just increase pageviews and therefore revenues (again, my opinion). So SAI is a business and it’s writers are definitely bloggers. However, it isn’t a newspaper and I would hesitate to call those guys journalists. Bloggers and writers – yes. Journalists – no.

The New York Times is a “newspaper of record.” It has editors and policies and fact checkers.* Everything it prints is reviewed and revised and fact-checked. It actually prints things (as opposed to just posting) because there is a print edition of the newspaper, for better or for worse. The people who work for the NYTimes are professional, trained journalists.

During his first presidential press conference, President Obama took a question from Sam Stein. Mr. Stein works for the Huffington Post, which is a blog. HP is one of the most popular blogs on the Internet. It has a lot of very smart people writing for it (as does SAI), and lots of paid writers and original content. It has editors. However, it is not on the same level as the New York Times or Washington Post. At least not yet. It seems to sit somewhere between the New York Times and Silicon Alley Insider.

As blogs accumulate writers and editors and advertisers and credibility, they begin to look more like newspapers. As newspapers add interactive features and video and comments, and cut back on their print editions, they begin to resemble blogs. Although the NYTimes and Washington Post and Wall Street Journal have been around for years and are considered newspapers “of record,” the line indicating whether they are more reliable or have better content is blurring. As more people get their news and information online, this line will become more blurry. Even President Obama can see this.

In a world where anyone with a computer has a voice (and a blog), it is important that we as consumers of news and information understand who it is we’re reading and how reliable, and worthwhile, the content is. By the same token, magazines, newspapers, blogs, and other sources of information will have to prove their reliability and credibility over time. As much as writers have a responsibility to be credible and get their facts straight, readers have a responsibility to understand what their source is and in what context any information comes from.

* Jayson Blair notwithstanding

How can advertisers really think that they are benefiting from this?

If print isn’t dead, it’s mortally wounded and won’t last long.