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Invest in Your Internal Brand

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Once you have budget to invest in your brand, you may be wondering if it is best spent on a local television commercial or an ad on YouTube. Instead, we encourage you to consider investing in your people!

Google, for example, has spent little on advertising and more on its employer brand. Its main focus is on getting and retaining the best employees, knowing customers will follow. Google invests in its people and its “People” team by paying some of the highest salaries, giving out the best perks and having the most stringent hiring process. As a result, its team morale improves, workers are engaged and there is less turnover. In addition, Google employees brag about the investment, which is organic marketing at its finest.

AETNA, the health insurance company, offers another great example of a company investing in its employees. On April 30th, AETNA announced a raise to its lowest-paid workers to $16 an hour.  Mark Bertolini, CEO of AETNA, believes the raise could pay for itself by causing workers to be more productive. Approximately 5,700 employees will be affected by this pay raise, including people who have made ends meet by seeking public assistance such as food stamps or Medicaid for their children. Although some people are skeptical about this tactic, Bertolini stays firm in his belief that it is the right thing to do and many people agree.

A few weeks before AETNA’s announcement, Gravity Payments’ CEO Dan Price also gave his employees a pay raise.  He cut about 90% from his salary, nearly $1 million, and gave it to his employees. Not only is he getting widespread media attention for the pay raise and his sacrifice, but he is developing a stronger company culture.

LVM hopes that you find these stories inspiring! Investing in your internal brand is a new way to think about branding and a great way to improve the lives of your employees. For more information about branding, contact us at info@lavozmarketing.com.

A Smart Investment: Tapping into the Hispanic Market

Blog - Auto

It’s not a surprise that the Hispanic market is rapidly growing. So what is the #1 tip when targeting US Hispanics?

Develop strong culturally relevant messages.

Many companies have made the mistake of simply translating their English content into Spanish without considering the consistency of the message.  Seasoned PR and marketing experts within the Hispanic market will tell you that it’s not enough. A “one-size fits all” approach will not work. Spanish is only a small part of a marketing strategy for the Hispanic market, of course, only if your audience prefers Spanish.

Current studies show that Hispanics dislike being viewed as a consumer segment. Instead, Hispanics prefer companies and organizations that make an effort to understand their culture and their needs. Through that process, Hispanics seek to build loyalty with brands that properly represent their voices and unique identity or with brands that empower their heritage by embracing their cultural characteristics.

Let’s take a look at the automobile industry.

eMarketer’s study in 2013 on the new-vehicle sales growth showed the US Hispanic automobile shopper is more likely to buy a car than the general market. Sarah Hasson, Senior Vice President (Automotive) in Univision’s Strategy & Insights Group, conducted a study revealing 20% of all new vehicle sales growth in 2013 were Hispanics.

Clearly, targeting the Hispanic market is a good investment for an automobile company, but what are those companies doing to achieve success?

Univision’s report reveals “leading brands all have awareness in the range of 60% to 71%, which is no surprise, given how active these brands are in Spanish-language media, and the consistent and culturally relevant messaging they’ve employed over the last 20+ years.”

Toyota has been the top-selling brand to Hispanics for over 10 years, due to effective marketing, public relations, community relations and stakeholder and influencer engagement. Toyota is also involved with several Hispanic events and conferences throughout the year to engage with the Latino community and to thank them for their business. “We strive to remain close to the market in order to understand each unique culture and be able to speak about the opportunities that Toyota vehicles provide in the most relevant and respectful way,” said Javier Moreno, manager of external affairs and communications for Toyota Motor North America Inc.

According to Pew Research, Hispanics are the most active group on social media in the United States.  Toyota has used that to their advantage to also engage with Hispanics on social media, using hashtags that are culturally relevant to Hispanics.  Honda, another automobile company successfully reaching the Hispanic market, also used social media to deepen engagement and build relationships with Hispanics by @HondaLatino Twitter account.

Honda and La Agencia have established a four-tier approach to market to U.S. Latinos, which includes cultural enrichment, community support, sports marketing, and product advertising. As a result, Honda’s Civic Sedan and Accord Sedan have been the #1 and #2 selling models to Hispanics for the past 8 years.

If you are seeking to develop culturally relevant programs for the Hispanic market, La Voz Marketing can help!  Click here to read a few case studies about how we helped our clients strengthen their relationship with US Latinos. For more information, contact us at info@lavozmarketing.com.