Transcript an effective hispanic marketing strategy

Promotion Vs.
Marketing Strategy
March 2016
Preview
• Discuss the cons of a promotion-only Hispanic
marketing strategy
• Review the components of an effective
Hispanic marketing strategy
• Provide examples
• Share available resources
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THE CONS OF PROMOTION-ONLY
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The Coopera Approach
1. The right organizational mentality
– Philosophy
– Investment
2. Adapt to the market
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Personnel
Products
Processes
Promotion/Marketing
A Promotion-Only Strategy…
Translations of
English Marketing Materials
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The Downside
• Lack of integration with:
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Hispanic growth strategic goals
Hispanic target market segmentation
Product/service relevancy for consumers
Culture
Other marketing needs such as online, social media, public
relations, advertising, direct mail, etc
• Consumer awareness and action wane
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Hispanic Consumers May Not…
• See that you care
• Understand the CU difference
• Know how your services can help better their financial
lives as a whole
• Distinguish your CU from other FIs and other CUs
• Be prepared to join
• Tell their family and friends
• Use other products and services
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AN EFFECTIVE HISPANIC
MARKETING STRATEGY
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An Effective Hispanic Marketing
Strategy…
 Starts with your Hispanic Target Market
 Defines specific, measurable goals that integrate with
your CU’s Hispanic growth strategy
 Conveys consistent, culturally relevant messaging
 Incorporates integrated marketing tactics including
promotional materials
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Resources: Coopera Marketing Consulting Services
Develop a Relevant Brand Identity
Relevant identity and positioning message(s):
Family
Financial Services
Accessibility
Financial Future…
Have a slogan for your
Hispanic target market(s).
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Resources: Coopera Marketing Consulting Services
Spend Time Building Awareness
• Easy to jump to products first
• Define and talk about what makes you different
• Is it…
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Your bilingual, bicultural staff
Your community partners
Your members
Your commitment to the community
Your mission
Or, all of the
above?
Resources: Coopera Marketing Consulting Services
Create Spanish
Concepts/Messages From Scratch
Multiculturalism
Social Media
Dual Identity
Millennials
Spanglish
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AT&T #BetweenTwoWorldsCampaign
Create Materials People will Use
• Informational product/promotional flyers to be used at
community events
• Recruitment materials
• Referral program information
• Event-specific information inviting the community to
your events
• Member service brochures that staff hand out
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When was the
last time
someone
grabbed a
brochure from
the rack?
Avoid Starting with a Spanish
Website First.
• It’s a lot more than just translation
• Considerations:
– What Spanish financial terms will you use?
– How will you ensure consistency in terms from the website to
other materials?
– How will you brand, your branded product terms?
– How will you convey important, culturally relevant messages
that aren’t available on your English site?
– How will you keep it fresh? How/who will make updates based
on new info?
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However, Don’t Forget Mobile and
Online.
• Social media messages – Facebook, Snapchat, Instagram
and Twitter
• Ensure you have staff who can provide follow-up in
Spanish
• Engage your audience on social media
• Be prepared to education on usage of apps and online
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Involve your Community Partners
& Tout Personnel Growth
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Talk about your community partners
Market to the community together (co-market)
Tout your Hispanic advisory groups
Write press releases in Spanish and send to Spanish
media
• Let the community know about new hires and new
leadership
Consider
Juntos
Avanzamos
Designation
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RESOURCES
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Coopera Consulting Services &
Resource Library
• Meeting topic(s)
• Templates in resource library
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The Digital Lives of
Hispanic Consumers
White Paper
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http://www.cooperaconsulting.com/hispanic-expertise.cfm?ID=C2AD7E80-BFCDAEBB-FAE3-F31E9E28E3AA
Hispanic Growth Resources
• Coopera Resource Library
• White Papers
http://www.cooperaconsulting.com/hispanic-expertise.cfm
• Hispanic Outreach Insights Monthly E-newsletter
http://www.cooperaconsulting.com/
• Hispanic Outreach Connection LinkedIn Group (CCHOC)
http://www.linkedin.com/groupInvitation?groupID=2148195&
sharedKey=5F7335401508
• Coopera Blog http://blog.cooperaconsulting.com/
• Coopera on Twitter Follow Coopera @_Coopera
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QUESTIONS?
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Contact Coopera
1500 NW 118th Street
Des Moines, Iowa 50325
866.518.0214
cooperaconsulting.com
blog.cooperaconsulting.com
[email protected]
© 2016 Coopera. Original information contained within this presentation is copyrighted and
cannot be used without expressed written consent from Coopera.