Xochitl Leon
For Xochitl Leon, Hispanic Segment Strategy Lead at Wells Fargo, the most effective strategies for reaching multicultural markets require programs, campaigns and initiatives that start with insights drawn from a diversity of consumers. “We often assume there are no differences in the attitudes, needs and aspirations of Hispanics and non-Hispanics, but there are. Starting with a clear understanding of the needs of our diverse consumers, which in turn directs us to the right markets on the right channels with the most appropriate messages and services, is key,” Leon said. Reaching the multicultural consumer is not something Wells Fargo does once a year, but is rather always at the core of its main brand strategies, the executive added. “Traditional brands are slowly moving from targeting special celebratory periods to making the multicultural approach part of their year-around strategies and of their overall branding and business efforts. This is great to see, since the numbers show what an excellent business opportunity this is, especially because most of net growth comes from Hispanic consumers.” She believes there is no one way that advertising works best. “It depends on the consumer you are trying to reach, their preferences and the media they use. The great thing about advertising is that with the technological progress of today’s digital world, we can be more innovative and precise in messaging and reaching each and every consumer.” For example, reaching someone like Leon can be quite difficult, she admits, as she doesn´t watch TV except on business trips, when most of what she sees is via streaming services. “Trying to reach someone like me who is on the go and does not watch traditional media requires creativity. I still see ads on the road,” the Wells Fargo executive said.
