Back
It’s not news that the Hispanic market is a yet-to-be-tapped well of buying power for many of today’s largest brands. How important is the Hispanic market? Well, Ad Age recently published its 13th annual Hispanic Fact Pack—a comprehensive guide that is chock full of statistics about the Hispanic market and advertising industry—and the numbers speak for themselves:
- The projected aggregate buying power of U.S. Hispanics in 2017 is $1.7 trillion.
- 6 million Hispanics live in the U.S., comprising 17.6% of the population.
- 4 million U.S. Hispanics use Facebook and Messenger each month (102% greater than the general market).
- U.S. Hispanics spend an average of 2.5 hours watching videos online per session, compared to 2.1 hours for all Americans.
- 8% of U.S. Hispanics purchased apparel products via a tablet vs. 46.5% of all adults. Hispanics also over-index across major categories when it comes to purchasing via tablet and cell phones.
So now that we understand the potential power of this underserved segment, what can we do to target U.S. Hispanics in a manner they find engaging, while reaching them with our clients’ messages? Below are some takeaways compiled from a variety of industry experts.
Avoid “Total Market” Syndrome
With the rise of “Total Market” strategies over the past few years, companies have found what they believe to be an easy avenue to generalize tactics to reach the diverse U.S. market as a whole. Essentially, “Total Market” refers to “one-size-fits-all” marketing strategies. These overarching platforms ignore one salient fact, however: Hispanics are greatly influenced by explicit cultural values that guide their thoughts, actions and purchasing decisions. As Erin Conrad mentions in her MediaPost.com article, Why Brands Still Don’t Have A True Hispanic Marketing Strategy, “Implementing a total market strategy may save money, but often leads to a less engaging message that lacks in authenticity and leaves the Latino consumer asking ‘what’s in it for me?’ The brands that understand this and are making an effort to foster genuine connections based on key cultural differences are winning Hispanic consumers’ loyalty and dollars…”
Appeal to Both Reason and Emotion
Ruben Navarrette Jr., a syndicated columnist, has written that respect is the single most important aspect to reaching Hispanic hearts and minds. A food product, for example, might include the slogan, “Food as delicious as your abuelita used to make.” This is an emotional appeal that conjures up memories of made-from-scratch family meals (abuelita means “grandma” in Spanish). According to Joe Gutierrez, Managing Director at Pinta NYC, “If you’re Hispanic, you see those cultural cues. You go, ‘Wow, that’s Hispanic.’ …They’re very proud of their Hispanic roots and their Hispanic culture, so they’re maintaining a lot of traditions… [T]o get to their heart, you have to really understand that.” Respect means recognizing individuals and interacting with them in ways that make them comfortable and unique.
It’s Not As Black and White as English or Spanish Anymore
The majority of recent Hispanic growth comes from U.S. births—meaning more and more of the population is speaking English. Many marketers believe that Hispanic marketing means marketing solely in Spanish. Others conclude that since the Hispanic audience is becoming more and more proficient in English, they can be effectively reached through general market strategies (this goes back to the idea of “total market” syndrome). Neither is the correct approach, according to Erin Conrad. As mentioned earlier, the key is identifying the role cultural nuances, cultural ties and community connections play to Hispanic consumers, and engaging with them through content that leverages these key points, whether they are in English, Spanish or even Spanglish.
Mobile data will allow for better targeting and tailoring of messages to Hispanic audiences
U.S. Hispanics spend more time online and on their mobile devices than their general market counterparts. What that means for advertisers and marketers is that with improved data and targeting, companies can tailor messages to reach sub groups effectively. Key messages for Miami’s heavily Cuban population will differ from Los Angeles’ heavily Mexican population and New York’s heavily Puerto Rican demographic. According to Jordan Greene, principal at Mella Media, “As Hispanic audiences tend to use the mobile phone as a primary Internet device more than the average consumer, they also provide back significantly more data. Converting those pieces into usable insights will be critical…and its subsequent targeting will finally enable marketers to reach the multiple micro-Hispanic audiences they have craved.”
Going into the new year, marketers will have to stay in front of the above trends to continue connecting to the ever-growing Hispanic demographic. Understanding the above nuances is just one way PadillaCRT lives our brand promise of connecting with purpose to all audiences.