Exploring the Untapped Hispanic Market (and Why You Should Reach Out)
As reported by Pew Research Center, population numbers for Hispanics are projected to reach over 80 million by 2035. What does this mean for marketers and brands like yours? Reaching the Hispanic market is now an indispensable step for future success, and this is a crucial time for marketers to approach Hispanics before it may be too late to win them over.
America is known for being a melting pot, welcoming people from all over the world who carry a part of their homeland very close to their heart. Bringing together a variety of cultures, the United States is where different people blend together as one. While 77 percent of the U.S. population is Caucasian, according to Nielson, Hispanic Americans are the second largest and fastest growing ethnic group in the U.S. today.
According to Nielson, cities like Orlando have become suburban destinations for Latinos who have previously resided in big cities like Miami and Los Angeles, and this shift in market location has forced marketers think outside of the box when analyzing where the big Hispanic markets will reside in the future.
So how exactly can your brand reach Hispanics?
Know their Patterns
Research shows that Hispanics living in the U.S. are, on average, 10 years younger than the general population. Because they’re young, they’re heavy mobile and online users, making them more receptive to digital and mobile marketing efforts.
Embrace their Culture
The key to targeting Hispanics is to engage them in an experience that empowers them and gives meaning to their voice, opinions and attitudes. By embracing their culture, brands will allow Hispanics to connect, trust, and establish a relationship with them. A great example would be Toyota’s use of Mexican artist Ximena Sarinana to bring Latin music fans on her summer music festival journey through social media, all while driving a Toyota Prius. The hashtag #VayamosJuntos (“Let’s go together,”) tapped into bringing the audience together through their culture, engaging them, and finding a way to be relatable.
Understand the Differences
According to Forbes, the challenge in gaining Hispanic consumers is that many are skeptical to concepts that aren’t familiar to them from their home countries. It’s necessary to understand that Hispanics have been exposed to distinct things in their countries and therefore see and approach things very differently than native-born Americans. Hispanics are wired differently and we must understand the wiring before attempting to successfully reach and connect with them.
Tapping into the Hispanic audience requires applying research to select the best channels for engagement, walking the line between experience and knowledge of a field and an ability to create a meaningful connection with audiences. Brands and marketers will have the most success by stepping into the world of Hispanics, not attempting to fit them into their own.[sep]