Analytics for the Latino Markets — SES New York 2011
Analytics sessions, like legal sessions and eye-tracking sessions, are my catnip. I just can’t resist them, no matter how much I try. Which is why we’re here in our second analytics session in a row. Ready?
Nancy Keene, Associate Media Director, Digital MV42° | MediaVest
Fernando Rodriguez, CEO, Terra Networks
Paul Lima, CEO, Lima Consulting
Armando Rodriguez, General Manager, Yahoo! Hispanic Americas
Now that you’ve got the players, let’s get right to the game. (Opening Day at Dodger Stadium is 8 days. Oh yeah.)
Paul Lima is up first.
Digital Marketing is the new finance
Customer Insights and actionable intelligence
Good job on coming into this room instead of the Facebook room. They’re still trying to figure out how to make money, we’re actually learning how to do it.
We’re moving beyond Caveman Analytics (see last session)
Popular metrics are not always the most effective. Don’t do time. Analyzing data in aggregate is a crime. Segment then analyze.
“Begin with the end in mind” You need to know what you’re measuring before you start.
5 tips on segmentation
Needs Based Segmentation
Language is easy and obvious. Need — security, power, esteem, change — is harder and less obvious to target.
Use segmentation maps
Use psychographic segmentation for professional services
– Validators are the most valuable statistically.
Align your segments with your product portfolio
Use psychographic profiles for online purchasing segments
Case study: school for struggling teens
Who are your customers? They thought they were pitching to the moms – soft, embarassed, worried. But the decision makers were the fathers – professional, direct, aggressive.
Barbara Billingsley versus Gordon Gekko
Hispanics Engage even more than non-hispanics
[and he just blew through about five slides -- yikes]
Fernando Rodriguez is up. He makes a joke about the snow… WHAT SNOW?
What’s the difference between the general US market, the US Hispanic market and the Latin American market. LatAm is slightly behind in the use and adoption of analytics tools
Forward looking view:
- Mobiles and connected devices: can we keep up?
- Do we understand the new landscape of mobile operating systems and aqpps?
- De-emphasize click and web measurement/should focus more on the consumer behind the mouse
- The privacy debate versus the benefits of a personal experience.
-US Hispanics spend more $ per ecommerce transaction vs. non-Hispanics. More receptive to online advertising & new digital media experiences.
- LatAm Internet Users are 24% more likely to use social networking vs. avg. global internet user
He swiped his next slide from a MorganStanley presentation. Hee. Basically there’s a huge global opportunity that we’re still missing out on. US Hispanic markets could offer 1B in revenue.
Armando Rodriguez (who recently joined us on the blog) is up next.
113 dollars/user vs 6-7 dollars/user for us hispanics.
TV is king in the Latin markets, even in the US.
How do we shift those dollars from offline to online?
How do we bring together the publisher and the advertisers?
Science, Art and Scale
Science gives us the data that we need but how do we leverage that to provide innovative and personal experiences? Can we scale it?
Create deeply personal experiences
- 45,000 different versions of the Yahoo! home page based on the user’s need and interests.
Drive Scale with Insights
- Allow for navigation in Spanish and English as well as advertising in both.
Use facts to create understanding
Pre-Sale knowledge drives analytics during the campaign drives recommendations for solutions drives pre-sale planning in the future
Key Takeaways: Yahoo’s POV
- Insight, not Hindsight – use facts to create understanding Latino audience
- Unlock creativity: interactivity – build lasting engagement
- Touch meaningful numbers – reach right audience with right message