#Pharma is a "Laggard" When It Comes to Hispanic Targeted Ad Spending | Pharmaguy's Insights Into Drug Industry News | Scoop.it

According to a new report from AHAA: the Voice of Hispanic Marketing, pharmaceutical marketers increased their aggregate Hispanic advertising investment by only 4 percent between 2010 and 2014 to $165 million. Among the top 500 U.S. advertisers, the pharmaceutical category allocation to Hispanic dedicated media remained basically unchanged at 2.5 percent, which is significantly less than the national average of 8.5 percent.

Despite overwhelming research supporting the importance of the Hispanic market to corporate bottom lines, the average Hispanic ad spend by pharmaceutical companies actually decreased 9 percent from $6.9 to $6.3 million in 2014. In fact, this category remains at a "laggard" allocation level, defined as companies who assign 1 to 3.5 percent of their marketing budget to Hispanic dedicated efforts.