Originally posted on https://digitalmedianinja.com/hispanic-market/
Did you know that Hispanics make up one of the largest growing demographics in the US? America is now home to the largest community of Spanish speakers outside of Mexico. Unfortunately, many of them feel like they are being ignored in marketing and advertising.
There are over 55 million Hispanic people in the US and they represent over a trillion dollars in purchasing power and these numbers will only rise over the next few decades. So, brands who want to raise their bottom line and increase sales should be targeting Latino and Latina consumers.
Unfortunately, many companies don’t understand how to target Hispanic markets for a variety of reasons. This means there is an untapped source of consumers looking for brands they feel represent them and they can connect with.
Here are some helpful suggestions to help your team come up with ways to help you market to Hispanics consumers.
Hispanic vs Latino
Even though they are often used interchangeably, there is actually a difference between the two and it is important you understand it. And trust us, it can make a huge difference in targeting.
Latino refers to people of Latin American heritage, including Brazil where they speak Portuguese. Whereas Hispanic refers to people who come from a Spanish speaking one, including Spain. This means not all Latino people are Hispanic and not all Hispanic people are Latino.
So, when creating a campaign, make sure you know exactly which demographic you are aiming for.
Regional Differences Are Bigger Than You Think
So, now that you understand the basic differences between Hispanic and Latino, let’s look at the way people define themselves by region.
In a study by the Pew Research Center, the majority of Hispanic speakers use their country of origin as their preferred identifier. For example, people from Mexico are Mexican-American, people from Honduras are Honduran-American, etc.
But, in states with larger Hispanic populations, there is a change in the way people self-identify.
Take Calfornia, which has the largest percentage of Hispanic people in the US. 30% of those surveyed said they identify as Hispanic as opposed to 17% who choose Latino.
But, in Texas, this number changes to 46% prefer to be called Hispanic and only 8% want to be called Latino. That said, an overwhelming majority said they have no preference either way.
This is where things can get a bit tricky. Even though almost half of Hispanic people search for things in English, you should still look into localization. Because there are so many Spanish dialects between regions within the US, Google translate isn’t going to cut it when it comes to getting your message across.
So, by either hiring a good localization team who is familiar not only with the local versions of Spanish being spoken but also those from around the Spanish speaking countries you will be able to target and create messages your intended audience will be able to identify with.
If you aren’t ready to create campaigns that are entirely in Spanish, don’t fear; you can still create a connection with Hispanic consumers. By using Spanish phrases, quotes, and terms in your copy, you are letting Spanish speakers that you care about them and see them as an important part of your brand’s identity.
Also, by adding elements of Hispanic culture, you will be showing consumers you are interested in their identities and experiences. This will help people feel that you and your brand understands them, an important part of any relationship.
It turns out Hispanics are more likely to interact with brands on their smartphones. One survey says Hispanics spend, on average, 2 hours more hours on their phones than anyone else.
They are also more likely to buy apps, surf the web, and shop using their handheld devices. They even tend to use in-app purchases more often than other demographics. So, it is important to make sure any campaign you create is mobile friendly.
More Social Media Interaction
Just like with mobile devices, Hispanics are more likely to interact with brands on social media. In fact, 50% of Hispanic Millennials mention brands they like either through posts or adding a hashtag. And many of them actively seek out and follow brands online to stay up to date with the latest products and services being offered.
This means brands should create a strong social media presence aimed at building lasting relationships with this powerful demographic. One way to do that is by seeking out Hispanic influences and personalities.
People are naturally drawn to faces and identities they can relate to. So, by creating ads campaigns featuring Hispanic people you will be reaching a growing market looking for brands they can identify with.
The Hispanic Market
As the number of Hispanic consumers rises, it is important for companies to find ways to reach out and speak to them and make them feel seen and represented.
Hispanic customers who identify with a brand and its message tend to be more loyal to that brand than other customers. A Forbes article talks about how many Hispanic consumers look for brands which embrace and celebrate their rich and vibrant culture. In fact, they are more willing to stick with brands they feel represent them than any other demographic.
So, by actively seeking out the Hispanic market, brands are creating generations of loyal customers.
Feel free to reach out for more help on how to create great marketing strategies, social media management, and all these related to digital marketing.