Listen to Your GPS-Reconfigure Your Total Market Strategy

Don’t Miscalculate A Total Market Strategy

  1. Latina GPS Driver Seat Total Market Strategy Blog Redbean Society

Ever been on the road driving from one point to another, thinking of all your to-do’s and you miss the exit? @#^!! On perfect cue, your GPS immediately rises to the challenge and makes the ominous statement “Reconfiguring route”.

This also happens in real life more often than we’d like. We all have an internal GPS. It’s that little voice inside your head that tells you that you’re better off taking route B as opposed to A. It’s that voice which we sometimes choose to ignore and then we eventually end at a different destination than we expect.

Marketers live and breathe similar types of situations every day. So immersed in their long list of items to complete, they miscalculate or don’t take the right action at the right time.

Leverage The Full Potential Of A Total Market Strategy

Over the last 15 years, US marketers have been hearing that in 20 years the US will be predominantly multicultural and that Hispanics will be driving market share growth in America. A few actually heard the news and began taking action by testing new markets in Spanish; by restructuring their teams to be inclusive of diverse ethnicities; and, conducting substantive consumer research to validate their observations. These marketers are now leading the pack in their respective categories. Like McDonalds, General Mills and Procter & Gamble, to name a few.

You can’t afford to wait. On the last count, the US Hispanic market was 52 Million strong and its buying power grown to $1.5 Trillion in 2015[1]. Unlike their immigrant predecessors of the past 50 years, they have no intention of assimilating or morphing into mainstream America. Bilingual, bi-cultural Hispanic Millennials continue to engage through their origin-culture and language[2]. And, Hispanic Moms have every intention of raising their own 2nd or 3rd generation Hispanic children to be bicultural, bilingual Americans whose value set will continue to be a combination of two or perhaps more cultures[3], as racial and ethnic family integrations continue to rise as well.

The good news is that if you haven’t activated your brands in the multicultural space already, you can still catch the wave by learning and immersion.

Listen to your GPS. Take action. You are not leveraging the full potential of the total market unless you do.

[1] State of the Hispanic Consumer-Nielsen, 2012

[2] Viacom Millennial Study, 2013

[3] Fusionistas, AlmaDDB-2014

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Jackie Bird is CEO & Chief Strategy Officer at Redbean Society, a marketing and strategic consulting firm in New York. Grounded on her 25 years of marketing and advertising experience with blue chip companies in the US Hispanic market, Latin America and Puerto Rico, she founded Redbean Society in 2009. Redbean Society helps marketers and ad agencies harness the total potential of a Cross-Cultural America. Specialized on Hispanic marketing, Redbean Society provides services in Total Market Strategy, Integration and Consumer Insights.
Contact: jackie@redbeansociety.com. T: 646-561-8494.