You probably have heard all amazing statistics about Hispanics in the US.
- 57.5 million Hispanics in the US as of July 1, 2016. 42% are millennials.
- Hispanic buying power grew from $495 billion in 2000 to $1.7 trillion in 2017.
- The US Hispanic market is larger than the GDP of Mexico and bigger than the economies of all but 14 countries in the world.
- Latino consumers have become the most important driver of growth in the US.
There is no wonder why Corporate America is investing billions in ad campaigns to reach this group.
How important is Spanish to Hispanics in the US?
- The number of Hispanics 5 and older who spoke Spanish at home in 2016 is 40 million, more than half spoke English very well.
- The number of Spanish speakers keeps growing. More recently the growth has been in US born instead of immigration
- Hispanic millennials’ identity is to be 100% American and 100% Latino.
The majority is a bi-lingual group with strong family traditions and culture and yes, Spanish is very important.
Learning what works and what doesn’t work in campaign strategies is important. As an example, NAPA has come up with a theme “Pura Calidad” that speaks well to Hispanics, and to the culture.
Toyota has made very relevant the concept that Hispanics have about their vehicles, like another family member, therefore reaping great revenues from that.
Reaching out in Spanish speaks volumes that you care, that you are there to serve and help. With a good product, brand loyalty could be your crown of success.
If your company falls into an industry where Hispanics are very active, there will be great possibility of success. Take for example the Automotive Collision Repair Industry; Hispanics cover at least 25% of the US market.
Other examples are the auto part market and construction. It is staggering to see how many Hispanic buyers walk into an auto part store.
How to do it!
If you sell products, translating your website content is a good step, but if you insert a “twist” of appeal based on culture, it is better.
Hispanics are brand loyal and highly active in social media. There are many avenues to reach this group via ad campaigns tailored well to this audience. It doesn’t matter where your company is located, with ad campaigns you can easily target specific demographics with a target in mind.
Don’t forget SEO, those keywords in special places will boost your internet presence and sales.
A growing trend is videos. A clever approach would be one that relates to culture, tradition or family values.
- Expands your business into new markets.
- Increase revenue.
- Your website will appear “global” when more than one language is available. Please do not try Google translate app or something like that if you want to appear professional.
- You may be able to reach 21 other countries where Spanish is the national language.
There is no much risk on trying and learning to explore new grounds with a chance to improve the business.
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