Lack of diversity in marketing teams may lead to missed opportunities.
This article cites a finding from eMarketer stating that the total US ad spend may touch $111 billion in 2019. However, the article adds that the Hispanic ad dollars comprise only 6% of the total US ad spend, even though the Hispanic population stands at 19%.
The author argues that the reason for this underspending is because advertisers have “overgeneralised an emphasis on Spanish-only”. Hispanics may speak in Spanish but search in English. The diversity in this segment is overlooked by the “country of origin, acculturation level and word choice”.
Further, marketers may not be capturing all Hispanics through Spanish-language broadcast media as this segment is digitally-savvy and migrating to streaming services. Advertisers who do not account for bilingual Hispanics could be losing out.
[2 minute read]