NASCAR FUEL FOR BUSINESSnffb.nascar.com/Media/Files/Leveraging_NASCAR_to... · 1 HISPANIC MARKET...
Transcript of NASCAR FUEL FOR BUSINESSnffb.nascar.com/Media/Files/Leveraging_NASCAR_to... · 1 HISPANIC MARKET...
NASCAR FUEL FOR BUSINESS
Breakout Session 1: Leveraging NASCAR to Win the Hearts of Hispanic Consumers
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WHAT YOU MIGHT KNOW ABOUT U.S. HISPANICS
HISPANIC MARKET GROWTH
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HISPANIC MARKET INFLUENCE
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TOP 10 HISPANIC MARKETS
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Top Hispanic Markets in the US: 1. Los Angeles2. New York City3. Miami4. Houston5. Chicago6. Dallas/Ft. Worth7. SF/Oakland/San Jose8. San Antonio9. Phoenix10. Southern Texas
NASCAR Event Market
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HISPANIC MARKET EVOLUTIONEmerging Markets
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Fastest Growing Hispanic DMAs% Growth from 2000-2014
1. Charlotte - 168% 2. Raleigh - 139% 3. Atlanta - 127% 4. Orlando - 125% 5. Ft. Meyers - 123% 6. Oklahoma City - 119% 7. Tampa - 112% 8. W. Palm Beach - 111% 9. Seattle - 108%10. Washington D.C. - 108%11. Las Vegas – 103%12. Minneapolis – 98%13. Kansas City, MO – 97%14. Salt Lake City – 97%15. Austin – 85%
NASCAR Event Market
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NASCAR TIMELINE OF EVENTS
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Feb
ruar
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Mar
ch
Ap
ril
May
Jun
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July
• Pocono Raceway• Michigan International
Speedway• Sonoma Raceway
• Daytona International Speedway - Sprint Unlimited
• Daytona International Speedway - Daytona 500 Qualifying
• Daytona International Speedway - Duel
• Daytona 500• Atlanta Motor Speedway
• Martinsville Speedway• Texas Motor Speedway• Bristol Motor Speedway• Richmond International
Raceway
• Talladega Superspeedway• Kansas Speedway• Dover International
Speedway• Charlotte Motor
Speedway (NASCAR Sprint All-Star Race)
• Charlotte Motor Speedway
• Las Vegas Motor Speedway
• Phoenix International Raceway
• Auto Club Speedway
• Daytona International Speedway
• Kentucky Speedway• New Hampshire Motor
Speedway• Indianapolis Motor
Speedway• Pocono Raceway
Au
gu
st
Sep
tem
ber
Oct
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er
No
vem
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• Watkins Glen International
• Bristol Motor Speedway• Michigan International
Speedway
• Darlington Raceway• Richmond International
Raceway• Chicagoland Speedway• New Hampshire Motor
Speedway
• Dover International Speedway
• Charlotte Motor Speedway
• Kansas Speedway• Talladega
Superspeedway• Martinsville Speedway
• Texas Motor Speedway
• Phoenix International Raceway
• Homestead-Miami Speedway
• Semana Santa 3/20
• Hispanic Heritage Month 9/15 – 10/15
• Dia de la Raza 10/12
• Cinco de Mayo (Battle of Puebla)• Mother’s Day 5/8
• Mexican Independence
Day 9/16
• Father’s Day 6/19
• All Saints Day 11/1• Day of the Dead 11/2
• Back to School - July-August
Family, the Hispanic Cornerstone
Hispanics in general have a deep identification and attachment to their family, which is defined beyond the traditional American nuclear family of parents and children. Grandparents, aunts, uncles, great-aunts, great-uncles, cousins and even close family friends play a role as well, and it is not uncommon for Hispanics to live in multi-generational households. Ensuring the well-being of family – whether it is physical, material or emotional is also key, generally giving priority to the collective rather than the individual.
Xfinity did a good job of showcasing the Hispanic family in this commercial with Sofia Vergara, where the whole family is going out together – from the grandfather down to the nephew.
HISPANIC CULTURAL INSIGHTS
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Food - Hispanics Showcase Their Identity
For Hispanics, meals are more than just providing a healthy breakfast, lunch or dinner. Whether it’s tamales, ceviche, arepas, arroz con habichuelas, it’s a way to keep a vital part of our heritage and culture alive and enjoy time spent with family and friends. Mealtime is also a way to pass on culture and tradition to the next generation, which seems to be working since eight out of 10 adult Hispanic Millennials enjoy eating traditional Latin foods, and nearly half of them buy more Hispanic foods and products than American ones.
However, Hispanics are not the only ones enjoying these foods. Latin America’s staple dessert, dulce de leche, has become so popular in the U.S. that in 1997, the ice cream company Häagen-Dazs introduced a dulce de leche-flavored ice cream, and Starbucks began offering dulce de leche-flavored coffee products. In 2009, the Girl Scouts introduced cookies with dulce de leche-flavored cookies as part of their annual cookie sales program.
HISPANIC CULTURAL INSIGHTS
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Music – Reconnects to Heritage
It’s important for marketers to remember that music plays a very important role in shaping and maintaining the Hispanic identity in the U.S. Listening to music from our countries of origin is very nostalgic and part of family life, a quick and easy way to remain connected to our heritage. While Hispanic youth listen to American mainstream music, they are also very familiar with their native music and sounds.
One can easily look at the popularity of Hispanic artists: in 2011, Maná sold out the Los Angeles Staples Center 11 times over – more than any other artist, including Madonna.
HISPANIC CULTURAL INSIGHTS
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To reach Hispanics, the right language is essential!
Immigrant Hispanics are most likely to be proficient in Spanish, but least likely to be proficient in English. In the second generation, use of Spanish falls as use of English rises. By the third generation, English use is dominant.
Even so, while English use among Hispanics is higher in later generations and Spanish use is lower, Spanish use persists among the third generation. In daily activities such as listening to music, watching television or even thinking, significant shares of third-generation Hispanics use Spanish.
According to a Pew survey, 87% of Hispanics believe Hispanic immigrants need to learn English to succeed in the U.S. But at the same time, nearly all (95%) Hispanic adults believe it is important for future generations of Hispanics in the U.S. to be able to speak Spanish.
HISPANIC CULTURAL INSIGHTS
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#1 #2 #3
USAGE AMONG HISPANICS
HISPANICS ARE
27% MORE LIKELY TO
SHARE CONTENT VS.
17% NON-HISPANICS
HISPANICS ARE
53% MORE LIKELY TO
USE SMARTPHONES TO
FOLLOW SPORTS VS. 43%
NON-HISPANICS
HISPANICS ARE
28% MORE LIKELY TO
USE SMART TVs TO
FOLLOW SPORTS VS. 19%
NON-HISPANICS
HISPANICS ARE LEADING IN DIGITAL USE
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ATTEND MORE SPEND MORE
23% OF HISPANICS ATTEND LIVE
EVENTS VS. 17% NON-HISPANICS
HISPANICS ARE MORE LIKELY TO
PURCHASE FOOD, DRINKS AND
SOUVENIRS AT LIVE EVENTS
HISPANICS ARE ATTRACTIVE CUSTOMERS
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HISPANICS TRUST SPONSORSHIPS
2x MORE LIKELY TO CONSIDER &
TRUST A BRAND THAT SPONSORS THEIR
FAVORITE SPORT, TEAM OR ATHLETE
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HISPANIC MARKETINGBest In Class Examples
A Hispanic market first: A Spanish language ad aired on an English-language broadcasting network during the 2012 NBA Finals between the Miami Heat and Oklahoma City Thunder--a move that signaled a significant change in advertising approaches toward Hispanics in the United States.
The 30 second telenovela-esque Ford Motor company advertisement for the 2013 Ford Escape played twice on ABC – once during Game 4 and another time during Game 5. It was a first for Ford, ABC, and for the NBA.
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UCLA 2015 DIGITAL WORKSHOP
Prior to the 2014 World Cup, J.C. Penney was looking to stand out by speaking to women in a typically male-dominated environment. According to a Nielsen study, more Hispanic women watch World Cup than non-Hispanic men, this was JCP’s "breakthrough moment."
The campaign included two 30-second spots that aired during each of the tournament's 56 games on TV, as well as online. There were also integrations with the Univision morning show "Despierta America," which began months prior to the start of the World Cup.
HISPANIC MARKETINGBest In Class Examples
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HISPANIC MARKETINGBest In Class Examples
As Toyota struggled to recover from a drop in sales and reputation due to safety concerns, the car maker's U.S. Hispanic shop, came up with a simple idea to link Latinos' pride in their heritage with pride in being a Toyota owner.Toyota’s multicultural agency crafted 99 different decals with the names of Latin American countries and major cities, and offered them for free on a Spanish-language Toyota Facebook page.The agency also sent street teams and cameras to places such as the parking lots of soccer stadiums or Home Depot, and approached Toyota owners there to offer stickers, showing them the different options on an iPad. As drivers picked their stickers and recounted their personal stories, often talking spontaneously about their Toyotas, they were filmed and the footage was edited into 15 spots, of which six ran on TV and the others online.
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WINNING WITH HISPANICS
1. Segment the consumer: Do not simply state that your target is Hispanics. This is a dynamic segment
tracing their heritage to 22 different countries and the majority of the population growth is coming from U.S. born Hispanics instead of immigration. Therefore, set aside marketing dollars to commission research to better understand this segment and define your target.
2. Think national but act local: When creating national campaigns, leverage the universal Hispanic
truths about the importance of family, food, culture, and optimism about the future. However, when creating events and activations in markets, dive deeper into the culture of the Hispanics in that market; Puerto Ricans and Dominicans in NYC, Mexicans in California and Texas, and Cubans in Miami.
3. Year-round exposure: Hispanics are consumers year round, not just during Hispanic Heritage Month or
Cinco de Mayo. In fact, these traditions are not even celebrated by all Hispanics. As previously discussed, much of the Hispanic segment is young meaning that many will be very active shoppers during Back to School, Halloween, and Christmas. Also, with the importance of family, Mother’s Day and Father’s Day will be exponentially more important than the anniversary of the Battle of Puebla (e.g., Cinco de Mayo).
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WINNING WITH HISPANICS
4. Be authentic: Marketing is not about language preference, but about human psychology. Simply taking
your general market English language campaign and translating it into Spanish is a potential recipe for disaster. For example, many Hispanics seamlessly live with a cultural duality. This duality is NOT mutually exclusive, but inclusive so they seek social solidarity and deep connection to their communities while holding close to their familial roots. In fact, 51% of Hispanic millennials believe that observing Hispanic traditions, customs, and holidays is extremely/very important.
5. Educate before selling: Ensure that your frontline team is able to have conversations with your target
consumer and engage them one-on-one. For a large portion of this segment, there is still a major information gap in matters such as health insurance, car insurance, and financial services. Make sure you have the staff and materials that can help bridge that gap.
6. Build a relationship: The ability to have one-on-one interactions is even more important for Hispanic
consumers. Hispanics rely heavily on referrals from family and friends, those they trust, before making a purchase decision. One-on-one time allows the frontline of your company to begin building a with the consumer, breaking down the above mentioned information gap, and most importantly develop trust.
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Q&A