Carlos Velasco frequently finds marketing managers frustrated by the daunting task of working with the Latino community.
- Will the Latinx accept my product or service?
- How can I grow my brand and brand equity in the Latino market?
- Is the millennial Latino market different?
- Is the language going to be a barrier?
- Are they going to like me?
These are some of the many questions he answers during presentations, panels and consultations.
Carlos Velasco, Novle CEO, explains the power of stakeholders to reach the Latinx Market.
Companies leaders’ interest in the Latinx market is right on target. According to The Insider, Hispanics are a crucial driver of US population growth. Brands that recognize the influence of this digitally savvy community will be poised to benefit from its immense purchasing power.
Moreover, the buying power of Latinx rose by 87% from 2010 to 2020—outpacing the 51% increase in non-Hispanic purchasing power over the same time.
By 2025, Hispanics will account for 12% of all US buying power, and more than 75% of Latinx will be using e-commerce channels.
Sharing Novle’s Approach
Carlos Velasco, Novle – Community Activators CEO, is always happy to share his consulting philosophy and show potential clients how to reach the Latinx community, away from transactional and conventional marketing.
Many great companies seek to engage the Latino community and start with a set of well-meaning assumptions about the complexities of the market. The problem is that they approach marketing agencies with a transactional vision of the problem. In their efforts to please, those agencies only validate their clients’ assumptions. The agencies eliminate a deep dive into analyzing the situation, objectives, and goals. More importantly, those agencies ignore the power of the stakeholder.
Novle is different. Our value proposition involves activating stakeholders and leaders to build relationships with the community. Novle has the pulse of the Latinx community, and it is up to date on the changing nature of the community.
Stakeholders are Key
“Our focus is the stakeholder approach,” said Carlos Velasco, Novle CEO and founder. “We define a stakeholder as a leader that lives in and for the community. Stakeholders come from many walks of life. They can be identified for the arts, environment, political, social issues, justice, and market influence spheres. We found stakeholders who are business owners, activists, judges, artists, managers of corporations, opinion leaders, or spearheading non-profit enterprises. They may participate in non-profit boards, donate money to good causes, or both. These stakeholders are embedded in the community and are working to make a positive impact for others.”
The stakeholder goes beyond the economic benefit to look for the good of the community and is aware of the main issues that impact society.
“I want to work with businesses that understand brand equity and recognize the importance of cultivating relationships with community stakeholders,” said Carlos Velasco. “We want to work with companies that recognize the Latinx community’s potential and that relationships can create brand loyalty and growth. This approach is a good way to elevate businesses, brands, and communities.”
“With Novle, you will find a better way to approach marketing with meaningful connections that create community and foster a good positioning for your brand. We believe that stakeholders are a key to your success and can bring you a deeper, more accurate knowledge of your marketing strategy,” said Carlos.
What is Novle
Novle is more than an agency; it is a path into a community’s culture and daily integration. More than ‘a sale’ or a business transaction, it believes in being a good community partner with those it serves.