It’s no secret that Hispanics represent the largest minority demographic in the United States, representing 17 percent or 55 million of the population.
Hispanics have grown to become a highly coveted demographic for many marketers because of their sheer size, early adoption of new technology, and buying power. There are other attribute that makes Hispanics appealing to marketers:
- Younger, typically married and many households have kids present
- They keep close ties with their culture while also experience other American cultural scenes
- Close knit families and they rarely will sacrifice a family occasion
- Prefer consumption of media in Spanish and not adverse to receiving advertising messages
- Highly engaged with media personalities and events in their community
- Highly engaged via emotional connection and relevant messaging
Hispanic growth is seen in surprising markets such as Charlotte and Raleigh, N.C.; Atlanta; Orlando, Fla.; and Ft. Myers-Naples, Fla. The growth in these and other markets has seen an increased need for many of life’s necessities such as groceries, gas, clothing, and housing.
In addition, many Hispanic homes are multi-generational. Therefore, the prerequisites are multiplied. Hispanics tend to be brand loyal to those businesses that communicate (in-language) and support their communities. Even smaller festivals or events offer an opportunity to have a dialogue with this important demographic.
As you start to evolve your marketing plans, think about the impact Hispanics can have on your business’s future growth. Many local and regional small businesses can realize an opportunity to increase revenue with this demographic.
As with all marketing planning, ensure that this target makes sense for your product or service offering. Also, consider a small test to understand what the actual business potential could be prior to going all-in.
Adele Lassere is a marketing/advertising consultant with 20+ years experience, freelance writer and author of “Elements of Buying” (self-help advertising guide); available at Amazon.com. Adele was listed as Black Enterprise’s 2011 Top Execs in Marketing & Advertising and Black Enterprise’s 2013 Top Women Executives in Advertising & Marketing. Contact: firstname.lastname@example.org