Recently, the Latino community has proved to be a fast-growing bloc of consumers. They have significantly extended their use of mobile technology and social media. Businesses which will come up with new strategies will be making a huge step in winning the Hispanic “super-consumer” market and will earn huge profits. Most companies haven’t considered using the mobile marketing to help gain access to Latino market; this field remains unexploited. Here are useful insights that would be helpful in accessing and gaining impact in this market.
The Latino market is made of the largest minority community in the US, they are around 43% of the whole population and still growing. In total, there’s over 50.5 million Latinos in America today. According to a survey, their buying capabilities has increased enormously, and it projected their financial status rising even higher.
Nowadays Hispanics have been seen to adopt ideas like financial planning and insurance coverage. In the past they were reluctant on following such ideologies.
The Hispanic consumers are endowed with great buying power, despite being untapped. This community is now standing at $1.5 trillion in purchasing power, and this has initiated growth by a significant margin. In fact, Illinois enjoys a 90% growth and this can be attributed to the Hispanics living there.
Businesses targeting to utilize this market should be able to employ mobile marketing to understand and address their diversity and unique needs. This market has shown preference to businesses using big data, mobile solutions, social media, and interactive technology – the Latino consumers find these to be appealing platforms and businesses can utilize it for advertising, awareness, and outreach. Using these channels for marketing will be an effective and efficient way to build a lasting relationship with the Latino population.
Mobile Usage and its Significance
The Hispanic online and mobile usage is among the highest witnessed in any community in America, and it’s further increasing at a rapid scale than any other marketplace. So it’s safe to say they make the most important category of consumers for retailers and other industries.
Therefore, businesses can utilize mobile marketing in the Latino market to increase conversions by building brand loyalty and appreciating their diversity. They can use mobile technology to build a relationship that will allow them to buy goods and services; and further, the businesses can utilize it as a form of advertising and passing relevant product message.