Stage 3

We have started to target Hispanics, but we’re facing challenges?

Companies in Stage 3 often find themselves in very frustrating situations. Their Hispanic market strategy is likely nothing more than a set of sporadic marketing tactics. Few, if any strategy stakeholders outside of marketing are aware of the initiative let alone vested or accountable for the results. This s because they don’t see the connection to the company’s or their own department goals, strategies, implementation plans and budgets.

Consequently, marketing is constantly justifying the value of marketing to Hispanics. Hispanic marketing budgets are allocated subjectively and arbitrarily and are often cut and even eliminated to be redirected to areas of broader strategic focus.

  1. Is your Hispanic initiative driven almost exclusively by marketing?
       

  2. Is it managed by a different and separate group or team such as the multicultural team?
       

  3. Is there little awareness and understanding of the Hispanic initiative across the company?
       

  4. Is there little connection between the Hispanic initiative and the company’s core go to market focus and strategy?
       

  5. Is the initiative often assigned to junior executives?
       

  6. Is your initiative mainly driven by an external agency?
       

  7. Do most dismiss it as an inconsequential below the line expense?
       

  8. Are budgets set and cut arbitrarily?