Although it's acknowledged as a fast growing online market in the U.S., advertising to Hispanics presents a challenge: matching ads with the correct mix of language, interests, topics, and publishers. Working to address this challenge, Consorte Media has launched to help advertisers reach Hispanic consumers.
The San Francisco-based company has established a three-pronged business focused on lead generation, a media network and an ad network. Its online advertising platform includes a mix of media content sites, third-party content sites, and targeted lead generation services, which collectively deliver approximately one billion impressions per month to 12 million unique visitors, said Alicia Morga, Consorte's founder and CEO.
Because Consorte targets a specific market, Morga said the company isn't trying to replace larger ad networks like Google or Yahoo, but to complement them with Consorte's market knowledge and relationships with long-tail publishers.
"We don't replace [Google AdSense]," she said. "We're not remnant inventory either. We're premium placement."
Morga insisted the Hispanic market has been underserved and too many advertisers are frustrated by an inability to reach their target audience. She said simply translating an English language ad into Spanish and then relying only on large Hispanic publishers to disperse the message often doesn't effectively reach or persuade specific demographics, and she claims Consorte can reach a larger number of sites with a targeted message based on the company's research. As U.S. Hispanics generally fall into the three categories of Spanish speaking, English speaking or bilingual, so advertising on a Spanish language-only site to reach Hispanics risks missing two thirds of the market, she added.
Tamara Barber, data analyst, Hispanic Technographics with Forrester, agrees.
"Understanding how to reach Hispanics online is complicated, and the Hispanic market is complex," said Barber. "You have language factors, and cultural factors, and then all your other factors like age [adding to the complexity]. Having someone like Consorte, who has been involved in the market for a while now and is focused on the Hispanic market, is a good thing for advertisers... looking to go beyond the Univisions and the Yahoo Telemundos of the world."
Forrester research indicates 70 percent of online Hispanics are "Gen X and Gen Y," or between the ages of 18 to 41, making them a prime demographic for advertisers.
Consorte's initial advertiser base includes BestBuy, SendMe Mobile, and Dealix. The electronics retailer BestBuy initially used its lead generation services to find bilingual employees for its stores around the country with positive results, said Jeff Weness, Best Buy's director of Hispanic initiatives, and now the retailer plans to expand into general online advertising with Consorte.
"They've really wowed us with not only the number of leads they've generated for us, but the quality of the leads," he said. "As we start doing more traditional advertising, driving people to stores and online, we're excited about what Consorte can do with that."
Morga officially founded Consorte in 2005. What followed was a long development and market research process that led to the stealth launch of its ad network this past Februar and its official launch this week.
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March 19, 2014