Why Market to the Hispanic Consumer?
Questions every business owner must ask themselves:
- Are we meeting our sales goals?
- Are we targeting the correct audience with our advertising?
- Do we need to increase sales to stay profitable?
- 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