Photo: Nielsen Conference Shows Importance of Tapping into the Hispanic Market
At the annual Nielsen Conference last month, multicultural advertising was at the forefront of many speakers’ speeches.
The Nielsen Conference is an event that brings the top researchers, marketers, and media companies together to better understand the American consumer. This year, those in attendance learned just how important the Hispanic market is to advertising.
Previously, specific discussions on the Hispanic market had been reserved for less general conferences and covered in ones like the Hispanic Retail Conference and/or the Multicultural ANA.
At the Nielsen Conference, a panel to discuss the multicultural market was held, and it was covered on both the main stage and the smaller forums.
In the conferences closing remarks, Nielsen CEO told the nearly 1,500 attendees that it would benefit them to spend 65 percent of their time “figuring out their Hispanic opportunity” because it has proven to be the biggest source of growth for every company in the United States in both the long and short term outlooks.
For businesses like McDonald’s that have tapped into their demographics, applying an overall rule of how to market to their consumers has proven successful. The fast food chain using a “30-40-50 rule” said Ad Age writer Chiqui Cartagena wrote. This reminds the marketing and research team that 30 percent of their customers are multicultural, and they account for 40 percent of the company’s sales, and the 50 reminds them that 50 percent of the multicultural population is under 18.