The rich traditions of Spanish language and culture have always attracted me as a student. Now, as an intern, the concept and growth of Hispanic marketing in this industry has perfectly married my educational and professional interests. In past decades, the Hispanic population has been considered a minority group in the U.S.; now it has become one of the fastest growing groups, accounting for almost 46.9 million residents (as of 2008). With such a drastic demographic shift in the U.S., not only geographically, but socially and culturally, a new form of marketing is surfacing: Hispanic niche marketing.

Although the Spanish language is the binding characteristic of Hispanics, they cannot be considered a homogeneous group, because of the regions and cultures in which they include. Thus, targeting a person becomes more important than targeting an ethnicity, as a whole. Not only knowing the statistics of this group is critical, but also knowing how to effectively communicate, market and advertise to our fellow consumers. After researching Hispanic advertising agencies, I ran across some staggering statistics from the Olé Advertising Agency in New York City. I read that the average U.S. Hispanic spends 20% more time online, with the majority of the sites visited in Spanish.  They also use the internet more than 17 hours a week, making the use of the internet greater than the use of television.

Many U.S. companies have created separate entities, such as Tapestry, the Multicultural Division of Starcom MediaVest Group, in order to effectively target this rapidly growing group. One of the best examples of multicultural, Hispanic marketing comes from a research study conducted by the Yaris sector of Toyota, which was used to promote their vehicle to this new market. Their task began with one-on-one interviews in the homes of young Hispanics, asking questions particular to their culture, heritage and lifestyles, avoiding the conversation of cars. As a result of this study, Toyota researchers and marketers determined that Hispanics are attempting to break free from the mold and stereotypes assumingly established in this country. In the end, Toyota introduced the “Mundo Yaris” (roughly translated to Yaris World), so that the Hispanic population can be portrayed as “trendsetters” in the U.S., thus leading to the Yaris becoming the most recognized sub-compact vehicle among Hispanics.

As I transition from the school environment to the grown-up adult world, I cannot even begin to count how many job postings I have scoured online.  And although I do have a minor in Spanish and consider myself a fairly good conversationalist, many of these jobs will only accept applicants who are fluent in Spanish. This new employment requirement serves to magnify the concept and importance of targeting these affluent individuals in our country.

To me, it is an exciting thought that the industry I am jumping into is radically changing not only its methods of marketing and advertising, but also in the people in which they are targeting. I think we could all benefit from learning about cultures different from our own.  Plus, it’s important to stay ahead of the game, because we never know what’s coming around the corner, or in this case, around the world.

Do you know specifically what the reputation of your company is worth?  A silly question, perhaps, but Toyota is in the midst of finding out what the answer is for them.  The automaker’s “unintended acceleration” nightmare is costing the company an enormous amount of money not only in lost sales and undermined customer loyalty, but also the hard, tangible costs of everything from replacement parts and dealer installation time to extensive advertising and public relations counsel.

 Eventually, the company will be able to look back and tally up a grand total of everything spent directly on the gas-pedal problem.  It will be a very large number.  And they will consider every nickel a good investment toward repairing their reputation.

 Beyond money, however, two other factors are critical for Toyota to regain its credibility: great customer service, and time.

 With millions of Toyota owners descending upon local dealerships for their replacement accelerator assemblies, each encounter is an opportunity for Toyota to shine – or to stumble.  If dealers can consistently make each customer feel as if he or she is the most important person they’ve seen during the recall, they will take giant strides toward reviving consumer confidence.  And as Doe-Anderson consistently preaches, turning those customers into engaged, vocal brand enthusiasts is the best investment a company can make.

 Still, it’s going to take time for Toyota to complete its recovery.  Clients often want a quick, effective public relations strategy to address a problem and emerge on the other side, none the worse for wear.  Doing and saying the right things quickly is, indeed, a critical part of the solution, but then the company must gradually earn back the trust of its audiences by remaining consistent, over time, in delivering on its promises.

In a sense, this crisis of reputation can be seen as a tremendous opportunity for Toyota.  If the company can get through a business catastrophe of this magnitude by responding honestly, quickly, effectively, and humbly – and avoid further problems for the foreseeable future – the company may ultimately win the public’s admiration and respect at an even more meaningful level than before.

Image by iboy_daniel via Flickr