Understanding Your Evolving Markets
Understanding Your Evolving Markets
Their research "revealed that Hispanic adults in the United States are just as likely, and in some cases more likely, to use technology as are non-Hispanic adults." Technology adoption does, however, vary based on different traits, such as whether the consumer speaks only Spanish, which country they or their ancestors came from and how long they've been in the country.
But, overall, the research shows that Hispanics are using the Internet; they are text messaging like the rest of the world and are no strangers to instant messaging.
What this pointed out to us, especially considering the amount of ethnic data that is currently embedded in several of our clients' customer segmentation systems, is that we need to constantly be aware of evolving markets. We need to constantly be thinking of how to best maximize our knowledge of the segments.
This study tells me that we should probably re-evaluate channel strategies for the Hispanic market. Interactive marketing may now be a good fit. Further, it highlights the need to seek a deeper understanding. Do we understand their language preferences? Do we know how long an individual prospect or customer has been in the country? All of these nuances within the overall Hispanic segment are very important, and this Vertis research proves that one more time.
Be on the look-out for behavior changes in your core customer groups. By understanding your segments, you can continually tweak messages, offers and channel strategies in order to better-serve your customers. And, of course, in the end, if you're doing it right, ultimately you'll reap the highest possible profit from each customer.
Understanding Your Evolving Markets - To learn more about this author, visit Nancy Arter's Website.
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I found this interesting piece of research from Vertis Communications, a leading marketing agency: HISPANICS ARE TECH-SAVVY CONSUMERS.
Their research "revealed that Hispanic adults in the United States are just as likely, and in some cases more likely, to use technology as are non-Hispanic adults." Technology adoption does, however, vary based on different traits, such as whether the consumer speaks only Spanish, which country they or their ancestors came from and how long they've been in the country.
But, overall, the research shows that Hispanics are using the Internet; they are text messaging like the rest of the world and are no strangers to instant messaging.
What this pointed out to us, especially considering the amount of ethnic data that is currently embedded in several of our clients' customer segmentation systems, is that we need to constantly be aware of evolving markets. We need to constantly be thinking of how to best maximize our knowledge of the segments.
This study tells me that we should probably re-evaluate channel strategies for the Hispanic market. Interactive marketing may now be a good fit. Further, it highlights the need to seek a deeper understanding. Do we understand their language preferences? Do we know how long an individual prospect or customer has been in the country? All of these nuances within the overall Hispanic segment are very important, and this Vertis research proves that one more time.
Be on the look-out for behavior changes in your core customer groups. By understanding your segments, you can continually tweak messages, offers and channel strategies in order to better-serve your customers. And, of course, in the end, if you're doing it right, ultimately you'll reap the highest possible profit from each customer.
Understanding Your Evolving Markets - To learn more about this author, visit Nancy Arter's Website.
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John BrennanJohn Brennan Ed.D. Dr. Brennan is President of Interpersonal Development, LLC, a training and development firm. Interpersonal Development has provided sales training and coaching to more than 3,000 sales reps from over 100 companies. A native of Australia, Dr. Brennan received his doctorate from the University of Rochester. His dissertation researched the effectiveness of Behavioral Modeling Technology in training people in interpersonal skills. While he has spent most of his career designing or delivering training, he was also a Vice-President of Sales of a training and development franchise with operations in 25 markets. Dr. Brennan has designed and delivered sales training in North America, Asia, Europe, Australia and the Middle East. He has been a guest speaker at numerous national and regional professional conferences. When Microsoft wanted Best Practices articles on sales for their web site, they called Dr. Brennan. The results are at http://office.microsoft.com/en-us/FX011387391033.aspx His firm’s clients have included Volvo, The Prudential, Merrill Lynch, Eastman Kodak, Gannett, Equifax Europe, the Economist Group and countless small businesses. - Visit John Brennan's Website |
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Dave KurlanDave Kurlan is the founder and CEO of Objective Management Group, Inc., the industry leader in sales assessments and sales force evaluations, and the CEO of David Kurlan & Associates, Inc., a consulting firm specializing in sales force development. Dave has been a top rated speaker at Inc. Magazine's Conference on Growing the Company, the Sales & Marketing Management Conference and the Gazelles Sales & Marketing Summit. He has been featured on radio and TV, including World Business Review with General Norman Schwarzkopf, in Inc. Magazine, Selling Power Magazine, Sales & Marketing Management Magazine and Incentive Magazine. He is the author of Mindless Selling and Baseline Selling – How to Become a Sales Superstar by Using What You Already Know about the Game of Baseball. He created and wrote STAR, a proprietary recruiting process for hiring great salespeople, and he writes Understanding the Sales Force, a popular business Blog and is a contributing author to The Death of 20th Century Selling and 101 Great Ways to Improve Your Life, Volume 2. - Visit Dave Kurlan's Website |
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Stephanie RobeyStephanie Robey is President and CoFounder of Pivot Positive, LLC - an Internet marketing business focused on helping people start work at home ventures. Previously, she was employed at The Search Agency with over 20 years experience in graphic design and 10 years experience in online marketing. She was responsible for launching the Conversion Path Optimization (CPO) unit where she and her team have conducted hundreds of optimization tests for online companies across multiple verticals. She is a successful entrepreneur having started and sold 2 companies and remains on the board of directors of the third, PhotoSpin.com Stephanie began her career in the direct marketing realm creating and producing direct mail for many of the major cable television companies and directly attributes her understanding of Internet marketing to those early offline experiences. Stephanie is a graduate of San Diego State University with a BFA in Graphic Arts and also holds an Executive MBA from the Graziadio School of Business and Management at Pepperdine University. Read Steph's Blog Meet Steph and Dave Sign up for our Free 7-Day BootCamp: Self Employed & Rich - Visit Stephanie Robey's Website |
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