Add an 'H' to Your BRIC Strategy by Chiqui Cartagena During the past couple years, as the economy and marketing budgets in the U.S. went into a tailspin, global brands have depended on growth in the so-called BRIC (Brazil, Russia, India and China) countries to help prop up their bottom line. And although long-term growth for any global brand will no doubt have to be infused by a strong BRIC strategy, I'd like to remind marketers not to forget about the markets at home that have the potential to become new weapons for domestic growth.

New Roots - Must See TV on PBS. by Chiqui Cartagena Last week I tuned into the debut of Dr. Henry Louis Gates, Jr.'s new PBS series, Faces of America that traces the roots of a dozen Americans in an effort to answer the questions: What made America? What makes us?

Business Told: Think 'Latino' by Timothy C. Barmann PROVIDENCE — Companies that fail to capitalize on the fast-growing Latino population in Rhode Island and the rest of New England are missing on a huge opportunity.

"Booming Hispanic Market Opens Business Opportunities The rapidly growing Hispanic population will have a profound effect on the landscape of the small business community, said marketing expert Chiqui Cartagena, who also noted that Latino women now make up the fastest growing segment of entrepreneurs in the United States. Latinos accounted for about 15 percent of the total U.S. population in July 2007 with a spending power of $850 billion. Projections show that figure is likely to exceed $1 trillion by 2010, according to Cartagena, who is the author of Latino Boom! Everything You Need to Know to Grow Your Business in the Hispanic Market. Cartagena spoke to an attentive audience in the packed National Press Club ballroom Thursday morning where a half-day conference, Latino Buying Power, was hosted by the Greater Washington Board of Trade. She said 53 percent of Hispanics owned homes in 2006 and will make up 40 percent of new home buyers over the next 20 years, opening business and marketing opportunities for banks, home furnishing stores and other companies catering to home ownership. But Hispanic buying power is not limited to real estate. According to data from Geoscape that Cartagena cited, Hispanics tend to spend more on groceries, phone services, furniture, gasoline, children's clothing and footwear. Her data show that Mexicans make up 67 percent of Hispanics in the United States, Central and South Americans make up 14 percent, followed by Puerto Ricans at 9 percent, Cubans with 4 percent and "other" Hispanics at 6 percent. Thirty-five percent of all Hispanics in the United States are under the age of 18 and 50 percent are under 34. While Hispanic communities in the United States traditionally have been located in states such as California, New York and Texas, there's been explosive growth in areas like Raleigh and Greensboro, N.C., and Atlanta, Ga. Virginia and Delaware are also high-growth states. Hispanic babies made up about a quarter of all U.S. births in 2006, generating Hispanic demand for baby and mom-centric products and creating marketing opportunities for businesses in those areas. Sixty-two percent of new business owners in the United States are Latino women, according to government data. The number of Latina entrepreneurs is growing, Cartagena said in an interview with the Small Business Blog, because entrepreneurship is part of the Latin American tradition. "It's not seen as risky," she said. A lot of these women have found success through direct sales companies like Avon, Mary Kay and Tupperware, she said. "And those women are encouraging their children to start their own business," whether it's a day care center or a food stand. "Right beyond the baby boomers [what] we always hear about is our boom," said Cartagena, who was born in Madrid, and is now the managing director of Hispanic ventures with publishing house Meredith. "We are literally the economic backbone of this country...If you want your company to grow, you better market to Latinos or you're missing the boat." In the Washington metropolitan area, Hispanics make up just over 11 percent of the population. African-Americans make up about 25 percent and Asian-Americans account for 8.5 percent. "Businesses should note that in the D.C. area over 40 percent of your potential buyers are not white," Cartagena said. In 2006, Hispanics of Mexican origin surged ahead of Salvadoreans and now are the largest group of Hispanics living in the D.C. metro area, which boasts the highest median household income - at about $60,000 - in the Hispanic market."

—Sharon McLoone
Reporter

"Book Review: "The Latino Boom" by Chiqui Cartagena

In her introduction Ms. Cartagena refers to herself as a "Hispanic media war veteran." She deserves that appellation, having worked at Univision, The Miami Herald ("El Nuevo Herald"), People en español, Advertising Age and now Meredith. She has a deep pedigree in the sector.

The growth of the Hispanic market is very much under discussion these days. The recent Census Report was unequivocal regarding growth in the market and has fueled speculation about how the market will grow, segment, and mature and how is should be served.

Chiqui Cartagena understands that demographics and raw numbers tell only half the story, if that much. Admittedly the Census Bureau probably undercounted the number of Hispanics in the US. Nonetheless, with that number fast rising to 40 million, marketers have to take notice.

The Latino Boom is very good and disciplined with the numbers and demographics. The book is worth reading to get a clear understanding of who lives where. But the strength of the book is in its subtlety and disciplined considerations of the Hispanic phenomenon.

Her discussion of the cultural differences between Hispanic and Latino are instructive, especially for those new to the sector. An advertising pro, Cartagena is rich in case studies and marketing insights. The discussion of language preference and differences between and among isolated, acculturated, and assimilated Hispanics is persuasive. The author brings some sanity and level-headedness to this area of dispute.

A centerpiece of The Latino Boom is that the Hispanic market is large, somewhat misunderstood and certainly underserved. The author offers considerable data about the buying power of Hispanics who tend to be demanding and brand conscious. How to reach and convert the Hispanic consumer is a subject of much debate. This book can make that task easier.

Cartagena puts to rest many myths, including the one that suggests Hispanic don't read. She is quick to point out, however, that the US Hispanic market is not fully appreciated by marketers. The US is a subscription market and Latinos are not accustomed to this means of purchase. But circulation in a problem as it the relatively low ad spend for magazines (between 3-4%) (MPA will address this issue at a Hispanic Summit October 15 in Puerto Rico).

The Latino Boom closes with a list of 10 mistakes you should avoid when entering the Hispanic market.

Read this book and your task will be made easier."

—Charles McCullagh
VP International
Magazine Publishers of America

"A must read for those looking to seriously understand the dynamics of the US Hispanic market. Ms. Cartagena approach to relating real work experience with her own cultural insights provides an excellent foundation for senior management to grasp the opportunities inherent in this important consumer segment."

—Sonia Maria Green
Director, Diversity Marketing and Sales
General Motors Corporation

"As more and more general market clients and agencies turn their focus on the mega-growth US Hispanic Market, this book has become a must read. Chiqui Cartegena serves as the ideal guide peppering hard facts with personal anecdotes that truly bring the US Hispanic Market to life. Her unbiased, media agnostic approach to the Latino Boom! fully reflects mosiac of Hispanic indenties that make up this market. Bravo Chiqui!"

—Peter E. Blacker
VP Multicultural & International
AOL Media Networks

"Chiqui Cartagena's Latino Boom! is a book that every marketer in the United States should read. It is not only a must for those who know little about the Hispanic consumer, but it is an invaluable encyclopedia of readily available information for those of us who are developing communications strategies to reach those Hispanics. For me, Latino Boom! has become my desk side reference book. Every time I need to access a morsel of accurate information, I go to Ms. Cartagena's comprehensive yet succinct Latino Boom! I think every multicultural ad agency should give this book as a gift to its clients, and have their own account and media executives in training read it."

—Manuel E. Machado
CEO/Co-Chairman
Machado/Garcia-Serra, LLC

Chairman, AHAA, 2004-2005

"Like Chiqui, I also consider myself to be one of the 'respected' pioneers in Hispanic marketing. I've been working in this industry for the past 17 years. Consequently, I am very particular about the books that I recommend to those who are just entering the Hispanic market for the first time. I have a very short list of must-reads and Latino Boom is now the newest and best "bible" on Hispanic marketing. It has everything one needs to know about the market in one place. Most importantly, it doesn't just have the facts but it has reliable 'lessons learned.' In addition, Latino Boom is also quick read; it offers fresh perspectives on market segmentation; it provides a historical backdrop that provides a deeper understanding on why there are differences among Latinos. Finally, Chiqui exposes issues that all marketers should consider such as the fact that most marketing and research that's available is funded by Spanish media and consequently skews the findings!"

I will gladly recommend the book to all Senior Management at MTV Networks!"

—Lucia Ballas-Traynor
SVP, General Manager
MTV Español & VHUno

"The U.S. Hispanic Market has evolved over the last 20 years, from a niche market to becoming the back bone of the mainstream market in USA. Understanding how the market has grown, its importance, the nuance and how to effectively reach Hispanic Consumers is the foundation for Chiqui's book. Bravo! for helping those interested in the Latino Boom."

—Eugenio (Gene) Bryan
CEO
HispanicAd.com

"Chiqui Cartagena has blended data and real life experience in a very readable, enjoyable manner. The '10 mistakes to avoid' are a great 'cheat sheet' and could serve as a quick executive presentation on how to start an Hispanic marketing campaign. The case studies are solid. You've hit your mark in creating a 1 day/1 plane ride primer that de-mystifies some of the areas that prevent companies from launching into Hispanic marketing. If I didn't have 15 years of experience, I would certainly find this a great tool for organizing my strategy and developing my execution plan."

—Ed Miller
Director
Verizon Communications