Reaching the Hispanic Market

Much like any market demographic, there is no secret formula to reaching the Hispanic Market. This demographic of consumer is like any other: it has its own features that make it unique. With that being said, there are a number of strategies you can employ to help your campaigns be more successful in reaching the Hispanic Market.

 

1. Be aware of the Hispanic consumers market trends. I know this may sound obvious, but you’d be surprised at what you don’t know about the Hispanic Market. To quote Nielsen’s ‘Hispanic Market Imperative,’ “If the US Hispanic Market was its own stand-alone economy, it would be a top 20 economy in the world.” That’s a big market with a large amount of buying power!
2. Know that this demographic is different. To further quote Nielsen: “Latino’s exhibit distinct product consumption patterns and are not buying in ways that are the same as the total market.” In other words, Hispanics purchasing decisions are not the same as other demographics and should be targeted uniquely.
3. Target your marketing efforts. According to Target Latin, 42% of the total Hispanic population in the US are Millennials. That’s 22.7 million people!

 

So how do you go about reaching the Hispanic Market? For starters, answer these questions: What are the population demographics in the areas you are looking to reach? Are you going local or national?

While the local/national answer can help clearly define your strategy, having a working knowledge of the Hispanic Market is a great way to start.

Did you know that Hispanics, on average, consume a large amount of data on digital platforms? They’re often the first demographic to embrace new technology and consume online video content. Another strategy for success: devote proper resources to reaching this market. Translating your current campaigns into Spanish isn’t enough. Many Hispanics consume data in a mix of English and Spanish, and some primarily use English. This is why adapting current marketing efforts isn’t enough. The Hispanic Market must be  targeted uniquely, not just lumped into other marking efforts.

The current Hispanic Consumer is not like the Hispanic Consumer of yesteryear. The majority are second or third generation Americans. They use English and Spanish. They are not prone to the old assumptions about Hispanics. They may even identify more as Americans, and less as Hispanics, while still embracing their roots.

The Hispanic Market is as vast and diverse as any market, and should be respected as such. Whatever the strategy you employ to reach this wide demographic, make sure to fully educate yourself on the topic.

Good luck!

 

 

The Hispanic Consumer, Why?

Why Market to the Hispanic Consumer?

Questions every business owner must ask themselves:

1. Are we meeting our sales goals?
2. Are we targeting the correct audience with our advertising?
3. Do we need to increase sales to stay profitable?
4. Are we doing this right?

 

Are you targeting every demographic with your latest campaign?

 

If not, I’ll tell you who you should be looking to reach.

The Hispanic community.

Why market to the Hispanic consumer? It’s an easy answer really, probably the same answer you get all the time: It’s all about the numbers.

So what do the numbers say? Let’s have a look!

 

As of 2010, the Hispanic market had $1 billion in buying power.

By 2050 the Hispanic community will make up 30% of the United States population.

 

 

And if you don’t take my word for it, here are some informative links I recommend:

A’s, B’s and Si’s of Hispanic Marketing: http://www.entrepreneur.com/article/175322

Your next big opportunity: The Hispanic Market: https://www.thinkwithgoogle.com/articles/us-hispanic-market-digital.html

Marketing to the Hispanic Millennial: http://hispanic-marketing.com/hispanic-millennials-require-new-marketing-strategies/

 

As of July 2015, there are 55 million Hispanics living in the United States. That makes the Hispanic market the largest minority market in the country, and 17% of the total population.

That’s a lot of people! A lot of underserved, under targeted people!

Did you know that Hispanic’s lead the demographics for digital engagement? On average, the Hispanic consumer spends more time engaging in online content than anyone else. The Hispanic consumer also leads the way for smartphone usage. Smartphones & their technology is a growing market, and the Hispanic consumer is a leading demographic.

 

As advertisers, marketers, and business owners, we need to be aware of this growing change in the demographic marketplace. Targeting and reaching the Hispanic consumer is now a must for any successful business. Having an advertisement translated into Spanish just isn’t enough. We must develop strategy for this emerging market to have successful engagement. Targeted strategy for the Hispanic community, while also understanding this community, is the first step to success.

 

No matter what strategy you employ or develop, it is clear as day that the Hispanic Market is a market you should be targeting. With billions of dollars in buying power, a rapidly growing population, and a unique, vast culture, the Hispanic market offers a wealth of opportunity for any business. It’s never too late to start, either. If you need help getting started, or would like more information, please don’t hesitate to give us a call at 405-473-6441 or visit Enye.net

Thanks!