Absolutely nothing! Recently, I was preparing a joint case study presentation with a client and on one of our last work sessions, she said, my communications director believes that we ought to start the case study by saying that we market to Hispanics because we have a strong culture of diversity and inclusion.
I said, your company doesn’t have a strategy to growth share among Hispanics because you have a culture of diversity and inclusion any more than you have a strategy to grow share among women because you have a strategy of diversity and inclusion.
The reason your company or any company targets Hispanics or women or Hispanic women is because they spend money and you want to win and retain your fair share.
The reason companies have a culture of diversity and inclusion is because they don’t want to be sued for discrimination and they want to attract strong talent. It has nothing to do with growth strategies or targeting opportunity market segments.
There was dead silence on the line. Long story short, we did not start the case study this way.
I encourage anyone listening to this podcast or reading this post to think hard about how Hispanic marketing is positioned within your organization. I offer the following check list to help you assess whether Hispanic marketing is positioned to drive growth for your organization or whether it simply exists because your company feels it needs to be politically correct and so they’ve decided to do “something.”
- Is Hispanic marketing managed by someone in Diversity and Inclusion, Corporate Affairs, HR or Special Projects Group?
- Is Hispanic marketing managed by as a separate project?
- Are research, strategy, and tactics conducted separately from the overall research, planning, strategy and tactic development process?
If you answered yes, to even one of these questions, I would encourage you to challenge the status quo.
Targeting Hispanics to drive incremental growth for our companies must be an integrated process that includes your “sweet spot” Hispanic target in the entire research, strategy, tactical and implementation process from the beginning. It must be owned by those who are responsible for business growth and a P&L, just as they own responsibility for growth among any other opportunity consumer segments.
This is the only way to ensure targeting Hispanics makes strategic sense and is aligned with meeting organizational performance goals.