• by Erik Sass  @eriksass1, April 16, 2014

Six big media companies are joining forces to tout the desirability of the U.S. Hispanic market and the effectiveness of multiplatform Hispanic media for marketers and advertisers targeting this audience.

The consortium aims to develop recommendations for best practices regarding ad strategy and measurement for brands trying to reach U.S. Hispanics via digital and traditional channels. It is recruiting brand advertisers and marketers from now through June.
 
The consortium includes IRI, a market research and analysis firm whose Hispanic marketing-mix modeling platform underpins the initiative; Latinum Network, an advisory company working for brands in the multicultural marketplace; Hispanic broadcasters Univision and Telemundo; IPG media agency Universal McCann; and Rentrak, a video audience measurement and analysis firm, whose ITVX branded entertainment measurement service will also provide insights for the initiative.
 
Among other goals, the Hispanic media consortium hopes to develop a scorecard of brand performance and help members maximize ad impact by building brand strategies and a “total market” approach balancing the general and multicultural markets. A “Hispanic Marketer’s Playbook” will provide guidelines for efficient reach generation strategies, engagement through social and mobile media, and research and metrics. The consortium aims to have results for brands who choose to participate in August.
 
This is the latest in a series of industry initiatives to promote Hispanic media as a key part of any ad strategy targeting the burgeoning U.S. Hispanic population.
 
Last November a new industry organization, The National Hispanic Media Alliance, launched with a mission to promote Hispanic print media as a key channel for reaching the growing U.S. Hispanic market. The NHMA said it will focus on highlighting the “hyper-local” and cultural relevance of community-based Hispanic publications, while also encouraging standard measurement and verification procedures to demonstrate accountability and attract advertisers, as well as adoption of new technology to reach an audience with evolving media consumption patterns.
 
As part of this mission, the NHMA will provide members with tutorials, templates and guidebooks on industry standards, sales and technology.

"Young woman reading a magazine" photo from Shutterstock.

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