The importance of the Hispanic market in the US



The importance of the Hispanic market in the US

Understanding the importance of the Hispanic population in the United States can be a great opportunity to expand your business and find a great target of customers that form a great part of the American population nowadays. As of July 2014 the Hispanic market in the US was around 55 million people (Hispanic origin). A number that will continue to rise throughout the years and that is expected to make up 30% of the entire American population by 2050 making it the largest minority of the country.

hispanic-market-in-the-us.png

Currently there are a large number of businesses that don’t have an adequate marketing strategy for this niche, which makes them fall behind greatly. What to do to reach this audience? According to a Nielsen Report, Hispanics spend up to eight hours watching videos online, 90 minutes more than the average American. This can give you a grasp of how digitally influenced is the Latino market today. Another Google study showed that Hispanics where 1.5 times more likely to buy mobile apps and other digital media than non-Hispanic people. This is a very important insight into the possibilities your brand can create to reach this market and approach them through digital campaigns.

Another important fact that is worth mentioning is that Hispanic audiences are not only about Spanish, most of the Hispanic market speaks English as well and registers of Google searches indicates that they use both English and Spanish when they’re online. So the fact that you translate your campaigns to Spanish won’t assure a Hispanic audience, it is more important to understand a little bit more about the Hispanic culture.

Two easy ways of accomplishing this are: Hire a marketer that has Hispanic origins but is 100% acquainted with the American market so he can target both segments. The second one is simply checking how your competitors are reaching this market and if they haven’t, then there is a great opportunity to be seized.

HOP Group's Free Marketing Assessment