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A few years ago, the suggestion of using
the Internet or digital entertainment to
reach the Latino market would have been
met with laughs or even scoffs. But that
was before the enormous surge in the
number of Latinos going online, before
the boom in rich media content such as
streaming music, video and digital music
downloads, and before the full
realization that Latino youth are
quickly becoming the dominant force in
the U.S. marketplace.
It boils down to a numbers game and
Latino youth win hands down. Of the 45
million (and growing) Latinos living in
the United States, the U.S. Census
Bureau reports that over half are under
the age of 27 and one-third are under
the age of 18. And this is just the
beginning of the story. From July 2000
to July 2006, Latinos were by far the
fastest growing minority segment in the
United States, representing half the
nation’s entire population growth. And
the population surge shows no signs of
slowing down.
It only takes looking at trends such as
the skyrocketing popularity of the
Reggaeton music genre to recognize the
power Latino youth wield. Suddenly,
being Latino is "in", and everything
Latino is "hot"
–
from music, to dress,
to attitude. With the latest statistics
showing that 18 million Latinos are now
online, that they spend 9.2 hours online
per week, and that they are more likely
than their non-Latino counterparts to
download music and mobile content,
listen to streaming music and watch
streaming video, the message to
marketers is clear: Latinos are a force
to be reckoned with. If your company
wants to get a share of the $900 billion
pot of cash that represents the annual
disposal income for this market sector,
you better think music, think
technology, think Internet. What's more,
you better think fast
–
before someone
else beats you to the punch.
Read
More
PURETRACKS TO LAUNCH
LATIN MUSIC STORE:
Music Promotions Available through
Promotional Currency
Puretracks
is unveiling a comprehensive new Latin
music store this month to serve the
diverse, fast-growing U.S. Latino
market. And thanks to the exclusive U.S.
digital promotions partnership
Promotional Currency enjoys with
Puretracks, we are able to offer the new
music platform to brands and retailers
interested in using digital music
promot ions to reach out to the Latino
market.
The Puretracks Latin Music Store will
feature more than 100,000 top Latin
tracks. Genres include:
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Pop Latino
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Regional Mexicano
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Tropical
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Baladas y Boleros
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Rock Latino
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Hip Hop Latino
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Reggaeton
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Cristiana
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For more information, call
888-701-3873
In FOCUS:
Why Mobile Content Promotions Are the
Right Call
According to the CTIA-Wireless
Association, more than 256 million
Americans now subscribe to a
cellular-phone service, up from only 55
million subscribers in 1997. This puts
the current U.S. penetration rate at
nearly 85 percent. When it comes to
Latinos, over 80% now own mobile devices
and are even more likely than their
general population counterparts to
download mobile entertainment. Mobile
phones have become an integral
communication and entertainment tool –
making them an ideal medium for
marketers looking to instantly connect
with consumers.
Several factors have converged over the
past two years to make mobile content
promotions a powerful marketing solution
for brands and retailers.
-
All major carriers in the U.S. have
finally opened their gateways to
third-party mobile content providers
– enabling brands to deliver
mobile
content promotions to the masses.
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Digital technology and the handsets
that support them have advanced
considerably – enabling consumers to
enjoy a broad spectrum of portable
entertainment. Polyphonic ringtones
are now a thing of the past,
replaced by music tones and mobile
games.
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The mobile game sector is
skyrocketing. Recognizing the
immense market opportunity, game
developers are now concentrating on
the development of exciting,
interactive mobile games that match
the thrill of games played on a
computer or game device.
 PROMOTION
SPOTLIGHT:
RBC(R)Uses Promotional Risk Coverage to
Offer Customers Chance at Big Cash
Prizes
Canadians may be ensuring that they
receive a mortgage loan if they stop by
a RBC(R) Royal Bank of Canada branch
location this spring and talk with a
mortgage specialist. It’s also the
chance to win $250,000 toward a dream
home that is motivating many of them to
act.
For the second year in a row, RBC is
running the RBC Gold Key Giveaway
promotion that offers consumers a chance
to win big cash towards the purchase of
a home. To play for the $250,000 grand
prize and 100 $2,500 prizes, consumers
need only to stop by one of 1,100
locations throughout Canada or talk with
a mortgage specialist. In exchange,
consumers receive a Gold Key game code.
To find out if they are a winner, game
code holders just log on to the online
game site, fill out a short survey and
then enter their game code. If the code
matches one of the 101 predetermined
codes, the consumer is a winner.
To offer the big money prizes while
working within the bank’s budget
constraints, Kaksha Mehta, Head of
Marketing Channels and Transformation
for RBC, obtained
promotional risk
coverage through Promotional Currency.
With promotional risk coverage,
Promotional Currency calculates the odds
of the promotion and then underwrites
the promotional risk with its risk
coverage partners– enabling businesses
like RBC to offer a big money prize for
much less than the actual prize value.
“With a booming housing market in
Canada, competition is fierce. We knew
the prize had to be compelling to
motivate consumers to come to RBC
instead of our competitors,” notes
Mehta. “The underwriting was critical
because it allowed us to offer a much
bigger prize than we could have
otherwise, while enabling us to cap our
costs.”
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