When it comes to marketing and advertising, the clear trend is budgets shifting toward digital platforms at the expense of traditional media outlets.
Whether targeting consumers through mobile devices, social media, paid search or other means, the Internet’s projected share of U.S. ad spending in 2014 is about 25 percent, according to AdAge. This is a nearly 20 percent increase from 2013, and is expected to top 30 percent of ad spending in less than two years.
Another clear trend is the rapid growth of the Hispanic market in both population and purchasing power. One out of every two people added to the U.S. population in the latest census was Hispanic and Hispanics account for more than $1.3 billion in purchasing power.
In Connecticut, the state’s total population increase was 168,532 people. The Hispanic growth was 158,764, or about 94 percent of the total growth, and now tops more than 500,000.
Yet, there is little evidence of the convergence between the allocation of marketing dollars toward tapping into this lucrative population, whether through digital or more traditional means.
Read the rest in the Hartford Business Journal