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Social Media panel @LatinvisionCEOSummit

by Gus Razzetti on October 5, 2010

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Yesterday I attended the Latinvision CEO summit in NYC sponsored by IAB and NYC Latin Media & Entertainment Commission.
I had the pleasure of being part of the Social Media panel along with some smart colleagues: Borja Perez, VP Integrated Solutions & Digital Media at Telemundo, Mónica Talan, VP at Univision Communications and Giovanni Rodriguez, Chief Marketing Officer at Broadvision. Rick Marroquin, President at Identity, moderated.

Following are some of the insights and ideas I’ve shared during the panel.

1. Lack of in-culture, in-language content is driving Hispanic growth in social media #latinvisionCEOsummit
We all know that Latinos over-index in everything, especially in mobile / PDA usage which is facilitating social media growth among Hispanics. The important thing is to understand what’s driving that growth. Latinos are consciously seeking out a cultural connection, picking and choosing to connect to elements of culture as self-expression. Hispanics believe that brands are not providing relevant content and that’s what’s driving consumer generated content among Hispanics at a higher rate. We all know that most of the Spanish versions (in-language not in-culture) of brand websites are a reduced version of the mainstream one. Note: content is more than simply the content (programming) provided by Telemundo and/or Univision as was discussed during the panel.

2. Latinos in SM are more active & involved: creating platforms where their voices can be heard & express who they are #latinvisionCEOsummit
40% of Latinos are creators (333 Index vs General Market, according to Forrester). That means that they not only play an active role in social media but they also create their own content: publish a blog, publish their own website, upload videos/music created by them and/or write stories/ articles and publish them.
Still many companies don’t get it: 78% Percentage of U.S. companies said they had NOT used any social media to engage Hispanics and only 18% plan to increase their spending during the next year.

3. Biculturals in SM behave the way they live: Spanish and English, Latino and American #latinvisionCEOsummit
If you want to grow your brand among Hispanics, the Bi-cultural segment is the way to go. And this is more evident in social media. 70% of Latinos are Bicultural, they live in both worlds they switch from one culture to another, the same with language. And 75% of Bicultural Hispanics are online being the most active segment, influencing both mainstream consumers and less acculturated Hispanics. And they are so conscious about how influential they’ve become in social media, that many believed that they should be rewarded for promoting brands on Social Media networks.

4. No longer language but affinity. #latinvisionCEOsummit – Socialization of content gives the consumer the choice of language
This still one the most often questions we get from clients. And if you read Gene Bryan’s post, you’ll see that even seasoned journalists are still struggling to find a comprehensive solution. Truth to be told, there’s no magic solution and there’s no such a thing like a one size fits all approach.
In the case of social conversation, content is the key driver. Brands can initiate conversation, but can’t not manage them neither the language in which those conversations happen.
Take the case of BeingLatino, one of the fastest growing Hispanic social media platforms. Most of their conversations are initiated in English (though some happen in Spanish). Participants respond in both languages, and sometimes the same person switches from one to another. That’s the beauty of our segment. Interesting to note, Spanish is mostly used when conversations become more emotional and passionate about subjects like identity, immigration, discrimination, etc.

5. The more specific & relevant your social conversation, the more engaging it becomes #latinvisionCEOsummit
The same way some clients believe that their General Market ad campaign is relevant to target Bicultural Hispanics; they don’t see why they should have a different approach on social media. The reality is that if you want to engage your audience, you better create a conversation that is relevant and taps into their passions and interests. And football (soccer), food and family shouldn’t be the only way. Social Media allows brands to engage in deeper and more relevant conversations. Let’s say you want to target moms (if you can get the mom, you can get the home). 36% of all Hispanic moms are single moms. They have different realities and issues: raising kids without a father, working and making money while taking care of their children, etc. A brand that can provide tools, advice, help those mother network to discuss their issues and solutions, will certainly build some preference among those moms. BTW, there are lots of single moms that are influential bloggers such as Latina on a mission .
That’s being relevant, that’s why doing specific social media strategies is a must.

Send your comments and feedback. I will be asking the other panelists to add their ideas so that you can get a full perspective of what was discussed during this interesting social media panel.

To read panelist Giovanni Rodriguez’s tweets and thoughts, click here.

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