Greetings, discerning readers!
Part of the reason that I love what I do is that – like you – I'm always learning a thing or two.
This week, for example, I love the piece by first-time contributor Blaire Borthayre, who writes about the Hispanic population boom that has sent US companies scrambling to win a piece of the lucrative pie.
Hispanic buying power for 2002 totaled $580 billion, Borthayre writes, with a predicted compound annual growth rate of 8.7%.( The standard rate for non-Hispanics, meanwhile, is 4.8%.) By 2007, the dollar power of Hispanics will rise to roughly $926.1 billion.
That's a number that marketers can't afford to ignore. But sadly, many marketing campaigns designed to reach the Hispanic market are ineffective. Read why.
Elsewhere this week, our own Allen Weiss taught me something new in his Premium piece, "Why Your Customers Are Always Right and You Are Always Wrong."
Allen discusses (among other things) the impulse to blame someone else when things go wrong. Psychologists call it the "Fundamental Attribution Error," and it is rooted in a strong but very human impulse to believe that we are right and others are wrong.
If you've ever walked away from dealing with a company's customer service department feeling like you did something wrong – like maybe you, the customer, were simply uninformed or simply incorrect or simply, well…simple, then you must read this article! (As the therapists say, you must first understand and name a problem before you can begin to conquer it!)
Thanks for stopping by. As always, your feedback is both welcome and encouraged.
Until next week,