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Hispanic marketing services and the current economy

January 23, 2009

Given the current state of the economy, one may wonder what the impact will be for small businesses in the Houston area, especially those in professional services such as marketing firms. Many colleagues agree that this may be an opportunity for small shops to shine since medium and large firms may be cutting budgets and looking for ways to make more efficient use of their marketing dollars.

Whether the above is correct or not is yet to see. Our city probably started to feel the effects of a bad economy since early 2008 and it appears to have worsen during the last quarter of the year. Just this past week, some of the large energy firms started to publicly announce job cuts. If this trend continues to expand among firms in other industries, more people will be unemployed with less money in their pockets and less possibilities to purchase goods. Less good and services purchased will continue to pressure sales which eventually ends up having an impact in the marketing dollars.

So, is this a real opportunity for small professional marketing firms? I think it is. Medium and large companies should experience budget cuts forcing them to look for alternatives with less overhead. Those firms that have Hispanic marketing expertise should still have a lot of potential in the B2C field. After all, the majority of population in Houston is still Hispanic.

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