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Erickson Research Blog

All posts in Relationships

Why Target Should Be Your Role Model for Hispanic Marketing Strategy

Have you seen Target’s latest ad, Summer Prep?

With a catchy jingle by Argentinian musical duo, Illya Kuryaki & The Valderramas, it seamlessly integrates different ethnicities with Latin flare — and lots of summer season whimsy.   It’s also the second of Target’s multicultural ad campaigns for 2013.  The first, Clap Your Hands, aired earlier this year and was the retailer’s first bilingual baby campaign.

These ads are part of Target’s current strategy aimed at winning Hispanic consumer loyalty.  So far, Latina Magazine’s response has been favorable. And Target’s approach makes sense given the spending power of this fast growing demographic.

More and more marketers are focusing on Hispanics and how to reach them.  In fact, a recent Nielsen and AHAA study, identified an emerging segment within the Hispanic population that accounts for 37% of their spending powerUpscale Latinos.  They’re young, urban, sophisticated, and believed to become as lucrative to marketers as Boomers.

The future buying power of Hispanics was also discussed at the Marketing to Women Conference in Chicago, this past April.  Conill (part of Saatchi & Saatchi) spoke about the importance of marketing to Latinas.   These young, well-educated, affluent women are transforming their homes by redefining spousal roles, delaying motherhood, and prioritizing indulgences over household duties.  As a result, marketing tactics must evolve to meet their needs.

So it seems that Target’s strategy for Hispanic shoppers is right on track. And it’s likely they’ve gotten there with the help of rigorous, in-depth researchone-on-one conversations, observations, and quantitative measurement — to really get to know this demographic inside and out.

For marketers, this knowledge is crucial to success — which is why Shopper Insights Research is invaluable.  The fact is, engaging Hispanics goes beyond simply using their language.  To truly ‘speak’ to them, you must understand what they care about and how it affects their buying decisions.  And most importantly (based on these insights), how your brand fits (or can fit) into their lives.

Our New (Free) E-book is Now Available for Download: What Do B2B Buyers Really Care About?

B2B Buyers
A lot of time, money, and effort goes into your sales and marketing campaigns aimed at B2B buyers. But are you saying and doing the right things to close the sale?

From thousands of in-depth interviews with senior B2B decision-makers, we’ve identified five things that really matter to B2B buyers. These are issues that we’ve seen in every sector from office products to network infrastructure – and from the purchasing department to the C-Suite.

Download the full report here.

So what things do B2B buyers care about?  Here’s one of them…

“Just tell me what it actually does.” B2B buyers aren’t impressed with product descriptions that are loaded with fluffy language and jargon. It doesn’t help them with their purchase decision. Instead, it mostly just causes confusion and makes them question the knowledge and integrity of the seller.

Download the full report for more on this topic (and four others you need to know). We’ll also share steps you can take to increase the effectiveness of your sales and marketing efforts.

It’s a Small World

While meeting with a potential client the other day, I was reminded yet again of what a small world we live in .

Our conversation, a mix of business opportunities and war stories, stumbled upon a number of familiar names.  Now, this is someone whom I had only met once before this meeting.  Yet, here we are finding person after person that we had each worked with, worked for, or personally knew in some context.  In all, a 30 minute conversation turned up no less than a half dozen common links, and we weren’t even trying!

This certainly wasn’t the first time I’ve had this experience.  Old clients from different companies who have moved to new jobs have landed in the same departments at new companies several times. A former employee, from several years back, is now a client. Two other former clients now work together at another research firm; one works for the other.  A colleague and I have been crossing paths in various capacities for 10 years.  First as competitors in a very small niche market, then as colleagues at a research firm, now as collaborators each running our own firm.  And on and on.

The lesson is that this business, really all business, is about relationships.  If you plan to be in a profession for any length of time, the relationships and reputation you develop (or don’t) will make or break you in the end.

Is this an earth-shattering revelation?  For most people, no.

Is it something that most of us need to pay more attention to?  Yes.

A quick trip to Amazon or any bookstore will confirm that one could fill a library with books about how to network and how to build better relationships.  In my opinion, one of the best reads in this genre, both in style and substance, is Never Eat Alone by Keith Ferrazzi.

Haven’t read it yet? Get it and read it.