Banta and Geoscape team up for US Hispanic market
It is hoped that direct marketers in the USA will be able to effectively reach the Hispanic market following the signing of an agreement between direct marketing agency Banta and market intelligence firm Geoscape.
Through the agreement, Banta's direct marketing clients have access to Geoscape's DirecTarget system, which identifies specific types of multicultural consumers (whether individuals, households or businesses).
The system also allows users to refine their own databases to more accurately meet specific marketing and sales objectives. In addition to Latinos, Geoscape's databases include Asian-American and African-American consumers.
Cultural relevance is key According to James M. Cyze, president for Banta Direct Marketing Group, the strategic alliance with Geoscape aims to ensure that direct marketers' messages are in the appropriate language and cultural context, as well as being relevant to US Hispanics based on their level of acculturation and other social and economic characteristics.
Cyze explained that - contrary to popular belief - Latinos do not constitute a single market, and that growth in multicultural populations in the US is currently very high. According to Geoscape, by 2050, Latinos are predicted to account for 24% of the US population.
Forming relationships The goal is for marketers to know exactly how to address specific segments rather than treat them all as a single group. The result should be stronger relationships with customers in the Hispanic community. According to Cyze, "Everybody wins, especially consumers who are getting the messages most appropriate for them - and who are not getting information they don't want."