A common mistake made by many marketers is assuming that virtually all latino millennials are native-born; an assumption which couldn’t be further from the truth. The fact of the matter is, 37% of all Hispanic millennials are American born. A fact that has a significant influence on their preferences as consumers. While certain consumer trends cut across millennials across the board, companies that wish to increase their market share in this Latino consumer group are going to have to pay attention to trends that are more specific to Hispanic millennials and their multicultural leanings.
A strong attachment to their roots
Despite being inherently bicultural, Hispanic millennials maintain a strong connection with their native cultures both in the form of culture and language. An ideal marketing campaign would, therefore, be the kind that acknowledges this connection and strives to provide the best of both worlds. This can be achieved through communication that creates an emotional bond between the consumers and the product by appealing to the Millennials’ bicultural identities.
The bi-lingual nature of their social media interactions
According to a study conducted by Experian Simmons in 2013, 96% of all Latino millennials were in possession of mobile phones. The aspects of their social media interactions that stood out were;
- They were frequent visitors to social media sites such as Facebook, Twitter, and Instagram.
- The vast majority of interactions by Hispanic Millennials are bilingual, owing to their bicultural backgrounds.
Their preferences for bilingual interactions have been observed in companies that adopted a bilingual approach to customer engagement. Many of these companies have noticed an upsurge in consumer interest in their products after adopting the policy. E.g., Que Rica Vida, a lifestyle website.
Commitment to family
Hispanics have very strong societal and family bonds; a quality that extends to the millennials as well. While it is true that Latino millennials have the same likelihood of marriage as all other millennials (28%), this, however, does not impact their commitment to family and the manner it influences their preferences. Companies interested in extending their reach into the Latino millennial market will, therefore, have to adequately point out how their products will benefit not only the millennials themselves but their families as well.
It’s important to make sure that one’s marketing strategies appeal to the multicultural elements that are all important to the modern day Hispanic Millennial. This is a market that shows great potential.