How can brands reach and foster meaningful relationships with multicultural segments? Recently, AcuityAds CSO Seraj Bharwani sat down with Ariela Nerubay, CMO & EVP of Curacao for Portada Live to discuss just that. Together they talked about how Curacao became one of the most trusted retailers in the US Hispanic community and how marketers can use brand purpose to create brand equity and drive business value. Here are three things we learned from their discussion.
1. Trust comes from making consumers feel comfortable
Curacao not only targets the Hispanic American community, but its organizational DNA is representative of the market it serves. It is a company that was built by immigrants for immigrants—with Latino’s making up 87% of shoppers and close to 90% of employees. Throughout the 40+ years they’ve been in business, this core purpose has never been lost.
Creating a relatable, cultural experience is essential to their success, according to Nerubay. Relating to customers on a cultural level builds a level of human connection that you can only have when you’re authentically part of the same community. This allows customers to feel comfortable with your brand and builds trusting relationships.
2. First-party data is essential for meeting the evolving needs of consumers
Over 90% of Curacao’s customers shop with their own private-label credit card, providing Curacao access to a tremendous amount of first-party data. This vital information offers Curacao immeasurable insights into the habits of their shoppers, allowing them to make sure the brand can evolve with the changing needs of consumers.
But with great data, comes great responsibility. Nerubay also highlighted the importance of privacy and stressed that because of the strong emphasis Curacao places on security, there has not been a single data breach in the company’s history. Understanding consumers through the use of data is crucial, but must go hand in hand with prioritizing consumer privacy to keep consumer trust.
3. Partnerships offer mutual growth opportunities for brands and more options for consumers
To expand growth beyond the four walls of its brick and mortar stores and extend on its data capabilities, Curacao sought out strategic partnerships with major companies like Disney and Apple, offering customers the ability to use Curacao credit to make purchases. The company also has a full-service travel agency, offering Curacao credit for travels to Latin America, Europe, and just about everywhere else in the world—giving Curacao customers more credit options than other big-box retailers.
Curacao remains committed to the Hispanic community, and illumin is here to help
To expand the three-state footprint of Curacao into a more national one, the brand will need to build strong relationships with both new consumers and brand marketers. Nerubay emphasized that Curacao’s relationship with illumin will be an integral part of their geographic and product expansion strategy by helping advertisers reach the broader US Hispanic audience using illumin’s national US Hispanic media footprint bundled with Curacao’s first-party data.
Nerubay was also proud to admit that the original goal of Curacao has not changed during its 40-year history; the brand will always be about creating value for their customers.