NEW YORK Latinum Network recently hosted a meeting to uncover standardized methodologies to assess overall performance and metrics in the U.S. Hispanic market.
With the Hispanic population becoming a major consumer force, brand marketers' need for comprehensive consumption and media measurement on this segment is essential, Latinum said. The business network recently brought together media experts from SymphonyIRI, Millward Brown, Integration-IMC, Bromley Communications, Lotame and Univision, along with marketing executives from 24 brands, including 7-Eleven, Clorox, DirectTV, Kraft Foods, PepsiCo and Subway Restaurants, to assess ways to make their presence in the Hispanic market strong.
According to David Wellisch, principal at Latinum Network, "A total market approach will ensure that you're investing each dollar where the return is highest, yet without sales tracking and comprehensive panel data, understanding the interactions and spillovers between the general market and the Hispanic market becomes very difficult."
Said SymphonyIRI SVP Lance Goodridge, "We are looking forward to working with Latinum to address these concerns in new ways – including options like increasing the size of our U.S. Hispanic panel."