Latinos represent a huge market both in terms of numbers and buying power, but do your homework
With reports that Latinos are on pace, nationally, to wield $1.5 trillion in buying power in 2015, a 50 percent growth over 2010's $1 trillion, according to a recent Nielsen report, it’s no wonder everyone is trying to figure out a way to market to the fastest and the youngest demographic.
Before running out of the gate, it is important do your homework.
Taking shortcuts is the easiest way to invite mistakes.
For the Hispanic demographic, one of the most common mistakes is to assume that Hispanics are a monolithic group, they're not.
The problem with that is that it fails to consider important cultural differences among all of the different countries that make up the Latino population. Mexicans and Puerto Ricans will generally speak slightly differently and probably have different likes when it comes to cuisine and music. Ditto for Argentinians and say someone from El Salvador.
Study up on the primary national origin
Taking the time to study up on the primary national origin of the targeted demographic can help you better calibrate your pitch and ensure that you are using the right message, not to mention finding the right messenger and the right approach.
The next thing to consider is the age of your target audience within the Hispanic demographic.
Does the median age of your target audience skew younger or older?
If it’s the former, then reaching out to them in Spanish may not make the most sense. But if it’s the latter, then having a Spanish language component may be required.
If that’s the case, don’t skimp on good translators. There are plenty of examples of terrible translations out there ripe for ridicule.
Here are some examples:
Kaley…& Más in An American girl in Spain wrote a piece called Beware of These Spanish Translation Mistakes where she shared ten major translation mistakes. Here are five of the ten.
1. Estar embarazada vs. to be embarrassed
2. Ser bueno/malo vs. estar bueno/malo
3. Estar constipado vs. to be constipated
4. Estar excitado vs. to be excited
5. Estar molesto vs. to be molested
Then there are the all too familiar photos on Facebook:
.png)
Next page: Generational target and media
.
But even here, it will be important to know if the target audience is a first-generation Hispanic or a second or even third generation Hispanic. As a recent The Economist article pointed out, there are some Hispanics that have been living in the United States well before there was even a United States. This is particularly true in places in the American southwest like Colorado and New Mexico.
Now that you have done your homework in knowing your target audience, the focus should now shift to where they work, gather and live in order to see your messaging. In other words, are there festivals, social events, church gatherings or sporting events where you are most likely to find your target audience? If so, this may be a good place to spend your marketing budget.
And in thinking of message placement, don’t forget that Hispanics are also online a lot more than the general population.
A recent BIA/Kelsey’s Consumer Commerce Monitor Study found that “overall:
- 17.7% of Hispanics surveyed said they use YouTube for local shopping, compared to 10.3% of non-Hispanics
- 16.8% of Hispanics use Yahoo for the same purpose, compared to 16.3% of non-Hispanics.
- 11.1% of Hispanics use Twitter, compared to 6.7% of non-Hispanics.”
The bottom line:
Finally, don’t forget that you need not be Hispanic to run and execute a Hispanic marketing campaign. Language needs aside, running a successful Hispanic marketing campaign means you need to apply many of the successful marketing strategies you use to reach any audience.
A good marketing campaign will create a powerful connection with the target audience and leave them wanting for more.
That’s success in any language.
Related articles:
Bilingual Latinos a Distinct Business Advantage