Stage 4

We have been targeting Hispanics successfully for years and are looking for ways to optimize our success even further.

Companies in Stage 4 typically allocate significant resources to ensure their Hispanic initiative is coordinated and working hard to meet the company’s performance goals. They have a solid understanding of how Hispanics contribute to business performance. They have a firm eye on protecting their share of market and are always on the lookout for ways to maximize success. Some of these companies may have started through trial and error and persistency, but finally succeeded through a culture of constant improvement and of leveraging opportunities in a strategic manner no matter how different, unfamiliar or challenging.

However, as successful as Hispanic initiatives may be within these companies, critical management sponsor moves, reorganizations, mergers, and perhaps a slight drop in Hispanic performance are frequent threats that require revisiting and validation. Other times, as the company’s strategic focus changes so must the coordination and strategy optimization process be repeated to align implementation efforts. Other times, management recognizes the company’s Hispanic implementation has been on auto pilot and not necessarily in sync with the company’s strategic position.

If you are facing one of the scenarios above, consider yourself part of an elite group. Ask yourself the following questions and if you find yourself answering no to more than three, you may do well to re-assess and determine if your current strategies are optimally positioned to continue growing sales among Hispanics.

  1. Is your Hispanic initiative integrated into the company’s overall go to market approach?
       

  2. Does your company target Hispanics which are most like the company’s most profitable consumers?
       

  3. Does your company integrate Hispanics as an important component to market research efforts?
       

  4. When your company shares market insights and trends are Hispanics included in the findings and implications?
       

  5. When your company develops its strategies to meet the companies established direction and goals, do those strategies also consider Hispanic market insights?
       

  6. When your company innovates across its products and services do the insights which drive these innovations include Hispanic market insights?
       

  7. Do operational, procedural and infrastructure plans consider Hispanic market insights?
       

  8. Do marketing strategies and tactics consider Hispanic market insights and are communications plans developed and launched concurrently?
       

  9. Do metrics provide a read on Hispanics’ contribution to business goals across company growth priorities?