New Business Network Launches to Help Brands Accelerate Performance in the U.S. Hispanic Consumer Market
Members Include Clorox, H&R Block, Kraft Foods, Mazola, McDonald's, Nestle, Sara Lee Corporation, 7-Eleven, Splenda and Subway
BETHESDA, Md., Jan. 5 /PRNewswire/ -- EcoNet Ventures LLC announces the launch of Latinum Network, the first-ever business network devoted exclusively to helping corporations penetrate the estimated $850 billion U.S. Hispanic market. More than 20 major brands have already signed with Latinum Network including Clorox, H&R Block, Kraft Foods, Mazola, McDonald's, Nestle, Sara Lee Corporation, 7-Eleven, Splenda and Subway.
Latinum Network provides a unique platform that enables top consumer brands to capitalize on the fastest growing consumer market in America. By bringing together companies facing similar challenges, Latinum Network enables CMOs and other designated executives to share best practices, improve inter-company collaboration, participate in cutting-edge research and pool resources to leverage their collective buying power. As such, Latinum serves as a barometer of consumer and corporate trends.
"There is a shared sense of urgency in Corporate America to capitalize on the surging U.S. Hispanic market that is transforming our economic and social landscape," said Latinum Principal David Wellisch, founder and former GM of AOL Latino. "Latinum enables corporations to do as a group what no one company can do alone in terms of collecting and analyzing data, collaborating with peers, and developing strategic partnerships. We represent a powerful new vehicle for companies that want to accelerate their learning curve, and get this market opportunity right."
Latinum delivers new-to-world insights, data and solutions across a wide range of critical challenges that matter most to its peer group of executives. By combining cross-company perspectives with customized support for each member, Latinum assists executives and their teams in developing deeper insights into the market, more effective strategies for the segment, and the solutions required to successfully design and execute core marketing initiatives. The network will be powered by a first-of-its-kind digital platform launching later this month which will facilitate active online collaboration among participating executives and provide access to a rich set of data and insights.
"With ethnic segments leading lifestyle trends, we recognize the importance of this market both as trendsetters in many cases, and as a target audience for our brand," said McDonald's U.S. Hispanic Marketing Director, Cristina Vilella, a charter member of the Latinum Network. "Our participation in Latinum gives us access to the best thinking from other market leaders as they too accelerate their penetration of the U.S. Hispanic market segment and to new, cutting edge analysis and data to take full advantage of this market opportunity."
Latinum pinpoints behavior and trends that help clients unlock the full potential of the U.S. Hispanic market in a highly cost-effective manner.
"The Hispanic-American segment is responsible for almost a third of the population growth since 2005 and its spending is increasing at a rate more than twice that of the general market," said Latinum Principal Michael Klein, formerly a top executive of the Corporate Executive Board, the world's largest business network provider. "Our clients recognize the huge growth potential of this market, but in this economic climate they're looking for more cost-effective ways to go after the opportunity. Our shared-cost approach to solving problems enables us to produce high-quality answers and insights at a fraction of the cost of alternatives."
To ensure its members get the most from their investments in the Hispanic market, Latinum is directly addressing a number of the most vexing challenges that have impeded companies' consistent success in targeting the segment. These include strategies to address and work around critical data gaps, best ways to use new channels to acquire customers, and the direct effect of acculturation on incremental ROI. For example, by uncovering how specific cultural factors impact actual consumer spending patterns, Latinum has identified a set of emerging market opportunities that for some companies have more than doubled their target market.
By leveraging the efficiencies associated with the network model, Latinum also provides members with a wide menu of services, customized for their needs. It holds formal meetings and informal web casts and teleconferences, and produces a steady stream of content which it makes fully available to members. Beyond original analysis and data, Latinum offers its members a range of additional services through the Latinum Marketplace, where members can partner on joint marketing initiatives, collaborate on industry-wide issues, and access negotiated discounts on vendor services.
Latinum Network is a wholly-owned business of EcoNet Ventures LLC.
For more information, visit www.latinumnetwork.com
SOURCE EcoNet Ventures LLC
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