NEW YORK McCann-Erickson WorldGroup last week launched Integra Relationship Marketing, a direct marketing shop that will target the Hispanic population for top-growth sectors.
"It was a real easy sell," said Integra president Steven Longley, who has been working on the project for more than a year. "Every client out there is asking for a Hispanic-driven integrated package."
According to a study commissioned by Spanish-language TV broadcaster Telemundo, Hispanic consumer spending is predicted to grow at an annual rate of 9.1 percent until 2020, outpacing national growth by three percentage points. Among the product categories that are expected to show the most growth are the pharmaceutical, automotive and financial services industries, the survey showed.
In line with that research, Longley, former chief operating officer of McCann-Erickson Mexico, named the financial services sector as one of the shop's top priorities. One client, credit-card issuer Household, has asked Integra to create a direct marketing campaign that will help the client market a card created for Hispanic consumers, Longley said.
According to Longley, part of the challenge of marketing financial services to the Hispanic community is ensuring that potential customers understand the fine print and are not confused by obtuse financial jargon in advertisements and promotions.
"Hispanics want to be a good consumers. They want to pay their bills. They don't want to be a debtor," said Longley. "But they come to this country and get whacked with complicated financial language. Being able to reformat that information in a way that is more consumable is very important" for credit card companies, mortgage companies and banks, he said.
The Princeton, N.J., shop will begin offering its services to IPG agency clients, but aims to expand beyond the network.
Growth in the U.S. Hispanic consumer marketplace is no secret. "While there are several outstanding Hispanic ad agencies, there is very little attention given to Hispanic direct marketing," said Dick Gillespie, chief executive officer of Gillespie, a general population direct-marketing agency that, with Integra, also falls under the McCann Erickson WorldGroup umbrella.
In addition to working with Gillespie, Integra will draw on the resources of MRM Partners, a relationship marketing network.