It’s no secret that the advertising business is being revolutionized by data and technology. However, data is not just a matter of gathering information. The real opportunity is how you correlate, integrate, interpret, and most importantly, how you can use this intelligence to deliver relevant content to your desired audience.
There's a new relationship developing between brands and consumers. People are more engaged and informed, especially on mobile devices, where they spend over four hours every day — and this is especially true for the U.S. Hispanic community, which is spending more time online than ever before. Why is this important to your brand? It is the largest minority group in the United States so how can it not be? And with an annual buying power of over $1 trillion, it shouldn’t be surprising, then, that brands should explore Hispanics’ online content habits and understand their behaviors.
In a recent survey that we conducted with Ipsos, we found that Hispanics watch more online video and less traditional TV than the general American population. Almost all Spanish-dominant Hispanics (94%) use mobile devices to watch online video, and to take it one step further, the time Hispanics spend on mobile video increased by 53% between 2014 and 2015!
Online video consumption is high among Hispanics because of the content and convenience of being able to watch video whenever, and wherever they are. According to our study, two-thirds of Hispanics agreed that it’s more convenient to watch videos online, rather than traditional TV. Additionally, over 50% of Spanish-dominant Hispanics are more open to receiving traditional and native video advertising than English-dominant Hispanics. Overall, 64% of Hispanics said that they’re okay with receiving video ads if they are getting access to free content.
When used effectively, data can paint a more holistic picture of your consumer. And that means there's a chance to deliver a more relevant message. Let’s consider the “back to school” period as an example. A mom may search online for product suggestions and fall style trends for her kids. But what if you also knew that this mom was Spanish-dominant, belongs to a specific retailer loyalty program, and spends a significant number of hours a day watching videos on her mobile device? You’d then know she’s receptive to a particular type of ad, and could then tailor yours accordingly.
If you have access to data that gives you these types of insights, your ad would be smarter and more meaningful. Ultimately, it's far more likely to deliver the results you're looking for. We've seen that this kind of personalization of ads can drive a tenfold lift in engagement. Once you've turned a new understanding of your audience into an engaging ad experience, you have to know whether it delivered ROI. If data is the new currency for marketers, measurement is their most valuable investment.
Brands have to think about putting a new combination of data, content experiences and technology to work. Specifically, U.S. Hispanics, who are more likely to be bilingual or to consume content in both Spanish and English, have distinct online content consumption habits. By leveraging these great insights, such as understanding the apps your consumers use most, or their past purchasing behavior, you can reach this demographic in a more personal manner.
Understanding your audience better is the first step, but marketers have to to turn that data into a relevant, valuable and creative experience for their consumers in order to get a valuable return on their ad investments. For years, the industry just thought that was a matter of language barrier, but it takes a deep understanding of your target audience’s behaviors — through the support of data — to truly reach them.