After 22 months as a PR and Marketing Specialist in an award winning Hispanic agency, I have come into terms with the Hispanic market segment; the ins and outs of its collective beliefs and behaviors.
The Hispanic market continues to grow at a vast rate. And as a result, companies are finding themselves assigning greater budgets to market to the Hispanic consumer. Next year, Hispanics will spend over $1 Trillion. Which makes us wonder: what percentage of our customer base is Hispanic? How and where are Hispanics reached? What are their motivational factors for purchasing? Identifying these insights takes years of qualitative and quantitative research but it could save your revenues. A good way to find some information is on the world wide web. Take note of the following insights to drive your brand into the Hispanic market.
Connect via social media:
Quepasa
Terra (including MiGente)
Batanga
StarMedia
MyLatinoVoice (a relaunch of MiApogeo)
Twitteros
Blogadera
BeingLatino
LATISM
hi5 (very popular in Latin America)
MSN Latino
AOL Latino (including Bebo Latino)
Facebook
MySpace
Fact: eMarketer estimates there are 25 million Hispanics online, about 52% of the US Hispanic population.
Fact II: Research done by Comscore in 2008 shows that Hispanics, now days, spend more time on the Internet than on TV.
Connect with the local community:
Now this is TOP SECRET and takes a considerable amount of time to know what and where the community is and how to penatrate it.
Look inside the churches, the welcome homes for immigrants, the non-profits, the businesses with Hispanic owners, the barrios and areas of concentration and begin to eat their food, visiting their organizations, volunteering in their non-for-profit and intimately engaging with them. Most likely if you have a good heart you may just be welcomed in.
For those corporate businesses, I recommend something extra. Take brochures, booklets, magazine subscriptions…anything that is free and a valid resource of information. Most unacculturated are hungry for information in their native language on topics such as healthcare, beauty, safety, education, family, pregnancy, banking, insurance, etc. Become their resource, and they will become your ally.
Connect with the following organizations at a local and national level:
League of United Latin American Citizens
National Society of Hispanic MBA
National Council of La Raza
Hispanic Chamber of Commerce
Hispanic Scholarship Fund
Key words to search for are: Latina/o and Hispanic Organizations, Coalitions, Salsa, and Hispanic Events.
Two already established insights:
The majority of Hispanics are hard workers, family oriented and brand loyal.
The general market has transformed and is becoming increasingly multicultural itself; therefore Hispanic insights must also appeal to the general market and vice versa.
And…If your business is planning diversity initiatives I recommend you assign someone passionate in the Hispanic market to do the job.
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