“Hear ye, hear ye, my name is Adam R Jacobson
And I present “Hispanic Market Overview 2023.”
Heed not the rabble who scream revolution
They have not your interests at heart
Oh my God, tear this dude apart
Chaos and bloodshed are not a solution
Don’t let them lead you astray
Total Market does not speak for me.”
With apologies to Lin-Manuel Miranda and Thayne Jasperson, we proudly and boldly present our 14th annual state-of-the-industry Hispanic Market Overview report — designed to offer newly crowned Hispanic and multicultural marketing experts and long-time veterans alike a fresh and unfiltered look at the U.S. Hispanic advertising industry.
There’s a lot we love. There’s much we question. There are a few things we don’t like. We are not alone. After 14 years of sharing valuable insights, observations and advice, there remain brand managers that have yet to do any Hispanic marketing of any substance. Some have pulled back. Many believe reaching all Hispanics through general market advertising is suffice.
When will it end? Ana Ceppi, the veteran senior global marketer and public relations executive wonders if 2023 will be the year “the Hispanic market will finally be right-sized in non-English.” It’s a question that has ignited many in the industry to argue that yes, it’s time. Others scoff that there will never be a time when it occurs, as it remains a question after so many years. We explore the topic, along with other key discussion points that could transform how brands respond to U.S. Hispanics once and for all … or not.
Turn on the TV today, and Diversity, Equity and Inclusion initiatives, or “DEI,” has done much in terms of casting. On a Saturday evening ahead of Easter Sunday, a viewing of the premiere episode of Paramount+’s “Grease: Rise of the Pink Ladies” yielded a surprising amount of insights … even if the plot of the show was absolute rubbish, unless you’re a Grease fanatic like my wife or a 15-year-old girl with a love for nostalgia.
Playing the lead role of Jane is Nashville-raised Marisa Davila, an up-and-coming Latina actress. Her character is half Puerto Rican and half Italian. Other characters freely speak Spanish across the premiere episode, with English subtitles.
One could argue that this is DEI run amok — with a multicultural cast and a LGBTQ+ character on full display at a Los Angeles-area high school in the 1954-55 school year. That’s just four months after the landmark Brown v. Board of Education school desegregation ruling from the U.S. Supreme Court, but is it realistic of Southern California of that era?
That’s besides the point. Our question is how the U.S. Hispanic advertising and marketing industry defines this program. Why? It represents the very conundrum of how Latinos have become integrated, but perhaps not fully appreciated, into the fabric of the multicultural America of 2023. Is this a “nod” to Latinos or a program that is more for Hispanics? Is Paramount+ now a competitor to ViX? Are these viewers more desirable than others when it comes to Hispanic market growth? Are these questions utter nonsense and need to ceased immediately?
Sadly, we fear these are exactly the types of questions being asked everyday by media planners, brand managers and creative leaders when U.S. Hispanic market experts fail to have a seat at the table from the start.
The longtime mantra “Saber es Poder” matters more than ever. Isabella Sanchez makes that point in a poignant pre-2023 HMC Annual Summit conversation in which she laments the phrase “we are reaching them already” is something uttered now more than ever.
Tony Ruiz, the veteran U.S. Hispanic marketing and advertising leader, takes the conversation deeper by questioning if “Spanish-language media” has been unfairly equated with lesser affluent and, thus, “lesser priority customers.”
Such faulty market interpretations could make life incredibly difficult for René Alegría and his team at MundoNOW. The online news source with uniquely produced English-language and Spanish-language content depends on all Hispanics, and seeks growth. What’s the best path with all of the misinformation out there?
That’s not an easy question to answer. And, just when you thought you knew it all, your insights may simply be outdated. In preparation for Hispanic Market Overview 2023, we glanced at our first-ever social media marketing and advertising report from 2010. The insights in this report are, for the most part, no longer valid.
That’s why longtime U.S. Hispanic advertising executive Alex López Negrete is now being joined by his Millennial-aged son in a quest of continuing education — and squashing all of the myths and misconceptions that have arisen in the last decade. Luis Miguel Messianu also has much to offer on the subject of how evolución is necessary — sin revolución. We do not need, or want, a “George Floyd moment” to accomplish what the African American community has in three short years. But it is time to get aggressive, united and decisive when it comes to an action plan. This includes selecting ROI over engagement, going beyond culture to include language and insights, and even getting bold with bilingual advertising like that seen from Hyundai.
Together, we can ensure that people know what they need to know. That alone is an achievement yet to be fully realized.
CLICK HERE FOR YOUR COMPLIMENTARY HISPANIC MARKET OVERVIEW 2023