There are so many wonderful opportunities where you can partner, get exposure to your brand and meet all these important people. The trick is, you are not getting paid. It is a barter. Unfortunately, I cannot eat barter, we cannot invest intangible equity. Always try to get paid and whenever a partnership opportunity arises your first thought should be, how can I turn this into cash. Some barters are excellent and have high value, but we need cash flow to strive in business.
Listen, listen and listen
You cannot have all the answers in the world nor should you. I am working to get teenage girls to come to our events and offer businesses the opportunity to interact with them. There is simply no way that I could know better than a teenager and a girl what the audience wants. I will use my team, our customers who are the specialist on the target market and variety of other sources to ensure that we succeed.
Innovations are rare by definition and seldom provide the payback expected. Especially in Hispanic market the audience change is slower but more profound than anyone can predict. If you aim to be the first on introducing new products you will likely be too early and end up losing money or worse, lose your customers because you stopped developing your existing products. Being a fast second means that you will build on existing innovations that are gaining traction and you can modify them to better fit your customers and ensure best performance. This will lead to less risky investments with high yields.
Hugo Hernandez is the Marketing Director of EC Hispanic Media. His responsibility is to lead the branding, events and promotion efforts of the company as well as partnership with national clients for El Clasificado, El Punto Semanal, Quinceanera.com, Alborde.com, Pacoslist.com, SuSociodeNegocios.com and Elclasificado.com