Hispanics make up 17% of the US population, and the numbers continue to grow.
According to the US Census
Is English enough? Good marketing relies on culture to be relevant. There are 16 Latin American countries. They may have a language in common, but there are different cultural customs, foods, traditions and ideas.
Bridges co-founder Ashley Quintana's research on Hispanic acculturation and the language of advertising was published in the Hispanic Journal of Behavioral Sciences. Check it out on our blog.
"Marketing is no longer about the stuff that you make, but about the stories that you tell."
– Seth Godin, entrepreneur
There are 37 million Spanish-speakers in the United States. Hispanics make up 17% of the United States population. If you're not speaking to the Latino community, you could be hurting your bottom line.
In addition to being the group with the fastest growing population, Hispanics and Latinos also have the fastest growing buying power. The purchasing power of Hispanics and Latinos in the United States increased 150 percent between 2010 and 2011 and is still increasing rapidly. Without Hispanic marketing, you run the risk that your potential customers may spend their money on your competitors’ products.
The median age for Hispanic and Latino Americans is just over 28, the lowest median age of any of the racial and ethnic groups for which the U.S. census collects data. In fact, three out of every four Hispanic Americans are younger than 45. Young people, of course, make up the majority of consumers of digital media and high-tech products.
Among ethnic groups of similar age, Hispanic Americans are the leading demographic group in terms of mobile phone use. Young Hispanic Americans who own smart phones make more calls, send more text messages, stream more videos, and download more apps than their non-Hispanic counterparts in the same age group. Considering how many streamed videos begin with advertisements and how many ads appear in free smart phone games and music streaming apps, you could reach a great many potential buyers by advertising through these platforms.
Hispanics and Latinos are also a sizable presence on social media. They are more likely than non-Hispanics to follow their favorite products or brands on social media and to make purchasing decisions based on social media promotions. Social media can be a great vehicle for Hispanic marketing. In a study, Hispanic consumers reported that they trust information about products more when they receive it through social media than through the other channels of communication about which they were asked in the study.
If you're going into the Hispanic market, take advantage of some free expert advice.
There's no risk, no obligation, and no credit card required. A free Hispanic marketing consultation with Bridges will:
? Provide a review of the Hispanic market and media outlets in your area
? Give you direction on how your product or services fit within the Hispanic community
? Present next steps for reaching the Hispanic market