Most English-speaking U.S Hispanics are bilingual. They often switch between languages or borrow English words and put them into Spanish, making Spanglish language. Hispanic communication is changing and with the growing number of speakers, they can no longer be ignored by marketers.
Most of the U.S – based car dealers are looking for ways of attracting the Hispanic buyers. Some companies such as Ford are spending a significant amount of resources to gain market share with Hispanics. This group spends approximately $16.2 billion dollars on new car purchases every year. More interesting is the fact that these Hispanics have larger families and hence more needs.
Today, the Hispanic population has a purchasing power valued at more than $1.5 trillion. This presents a market opportunity that marketers, digital marketers and sales directors are scrambling to get a cut for their brands and companies. There have been prominent pointers that the Hispanics present one market opportunity with the potential to drive sales and raise brand prominence in the U.S.
In the U.S., being ‘Latino’ or ‘Hispanic’ may mean the same thing especially with regard to census definition. In much finer terms, it can be separated to mark the origin, heritage or lineage of the person or their parents (Latino – from Latin America) or just identifying with a culture or heritage of Spanish nature whether coming from Latin America or from other countries (Hispanic). This clear separation is ever more important for marketing, digital marketing and sales directors who must know the particular group their content is targeting, failure to which their huge marketing expenses may not yield much.
The multifaceted nature of the Hispanic consumer has over time been recognized widely as a fundamental aspect when it comes to the growth initiative for virtually all industries in the U.S. The community has a number of attributes that require companies to adopt Spanish advertising if they want to increase their revenue as well as their U.S Hispanic market share.
The Hispanic population is the new battlefront for brand and revenue growth. The 56.6 Million strong segment of the American population with a growing purchasing power guided by a multi-cultural taste is quite an enticement to many marketing, digital marketing and sales directors. There is widespread discussion within marketing and branding guru circles on developing the best online strategies to win over more Hispanics and utilize effective online strategies in marketing to Hispanics. Forbes has identified marketing to Hispanics as the opportunity for the last real growth for companies and their brands. AHAA has also laid emphasis on the unavoidable influence of the Hispanic consumer, raising the stakes when it comes to marketing to Hispanics.
Hispanic marketing has become an important avenue to help drive brand growth and improve company revenue. This is because Latinos are exerting influence that has never been felt before on the American consumer space due to their growing population and increasing spending power. The Latino market is growing at an unprecedented rate and marketers, digital marketers and sales directors must employ unique and effective services to attract and retain this critical customer segment. Only a succinct understanding of the Latino market can help a company’s online strategies reap from the brand loyalty and multicultural buying taste of Latinos.
Traditional advertising is not working anymore in the general population and this resonates even more with the Hispanics market segment. There are critical questions for today’s business and marketing executives in this rapidly changing technological advertising space that can only be matched by novel advertising strategies. This include value for consumer’s money, whether a brand can help keep customers connected and what exactly makes it stand out.
There is a lot of buzz on targeting the fast growing and crucial U.S. Hispanic market segment among marketers, digital marketers and sales directors. This is occasioned by the need for innovative marketing strategies that can cater for the population’s needs and generate revenue streams for companies. One of the key population sub-sets is the Hispanic teen. Not only have the U.S.Hispanics earned themselves the brand of the most digital savvy group, they also have teens with greater access to the internet across a variety of devices.
It’s evident that Hispanics are the epicenter of growth in the US. They are composed of a large population and are endowed with amazing purchasing capabilities. Large enterprises have termed the Latinos as the future of business in America. Though they look appealing to most businesses, they are highly inclined to culture, and social classes with effective Hispanic advertising needs going beyond just advertising or marketing. There’s need to understand what works well for this population.