What Does “Hispanic” Mean?
Let’s start with the basics; typically, the word “Hispanic” and “Latino” are used interchangeably, however, each has its definition and purpose.
The word “Hispanic” refers to people who speak Spanish, or are descendants of Spanish speaking families.
“Latino”, refers to people who are from Latin America or are from families who are from Latin America.
In this post, we will be focusing on the Hispanic culture, as this is related to Spanish speaking individuals and markets.
According to the 2018 Census Bureau, it is estimated that 60 million Hispanics are living in the United States and make up 19% of the total US population.
Now, when was the last time that you saw your local plumber running a Facebook ad for the Hispanic market? Apart from large brands, many small businesses are not.
I point this out because so many small businesses are not paying attention to the opportunity in this market, which means that those that do decide to create content and local advertisements, can win big.
So, without any further ado, let’s get into uncovering Hispanic digital marketing opportunities in 2020!
The Hispanic Market In 2020
Hispanic Americans are the second fastest-growing ethnic group by percentage growth in the United States after Asian Americans, and are overall the second-largest ethnic group in the United States, after non-Hispanic whites.
The Hispanic population’s buying power is 1.5 trillion as of 2018 and is projected to reach $1.9 trillion in 2023. About 62.1% make more than $40k per year (majority making upwards of $60k per year) according to 2017 US Census National Population Datasets.
Additionally, the Hispanic market is the largest ethnic market – this includes more than one out of every six Americans and is the second-fastest-growing minority market in the U.S.
Since 2000, the Hispanic market has risen by 212% (a $500 billion increase).
Apart from financials and population growth, the Hispanic market behavior is much in favor of digital. US Hispanics are ahead of the curve when it comes to anything digital. They lead in the adoption of new devices, highly engaged on mobile, and over-index on consuming video content.
How To Reach The Hispanic Market
If you simply translate your English digital advertising (or any ad for that matter) directly to Spanish, get ready to be laughed at by the Hispanic community. Not only will they see right through it, but it also exposes that your business is not truly looking to connect with their market.
As a brand, company, or advertiser, you must understand the cultural nuances, jokes, slang, and overall values of the Hispanic community to produce messaging that resonates and is impactful.
Early Adopters Of Digital
As mentioned above, Hispanics are early adopters of almost anything digital, and additionally, they over-index in video consumption.
This means that running paid social media campaigns (Facebook or Instagram) and YouTube campaigns should be at the top of your list if you are looking to reach this audience.
The percentage of Hispanics that use YouTube when they want to learn about a product is an outstanding 75%.
Additionally, 97% of Latinx households own a smartphone, and older Hispanics over-index the general population by 5% for smartphone ownership.
One thing that brands can be sure of, is that Hispanics of all ages remain digital-first consumers and are early adopters of new technologies such as smartphones and other smart devices. The Hispanic community lead very engaged online lives and consume content mostly on their mobile devices.
Like most markets, US Hispanics use technology to express and connect with what is most important to them. When producing creative advertisements, businesses should utilize imagery that highlights the connectedness of the US Hispanic community through language and content.
Make sure your messaging speaks to Hispanic customs, values, and culture. As a business owner or marketer, you can engage with Hispanics in various ways. You can achieve this through the language of course, such as Spanish/bilingual creative, trusted Hispanic social influencers, or social media platforms, especially those using music and video content (Instagram is great for this).
Connecting Through Social Media
When it comes to social media, this channel is an extremely important part of the Latinx path to purchase. The Hispanic consumer utilizes social media more than the general population to learn more about products and services
Additionally, they are more likely to share their product or service experience on social media. If you have a great product or service, this market will rave about it!
If I had to recommend 2 social media platforms for brands to be highly active to reach the Hispanic audience, it would be Instagram and Facebook. That being said, most Hispanic consumers have more than 7 social media accounts.
Brands That Are Reaching The Hispanic Market
Depending on your browser settings or the TV channels you watch, you may or may not be exposed to Spanish ads. Over the years, there are a couple that I feel still hit the spot to this day!
IKEA: “The Other Letter”
This commercial still gets to me when I watch it and I think it was very well put together. The overall message in this commercial is that kids don’t necessarily need toys during Christmas: they need their parents and quality time spent with them.
This is a powerful ad in many aspects; firstly, it shows parents and kids of different backgrounds speaking Spanish, with different accents and voices. This ad in my opinion really resonates with Hispanic culture and values, as it taps into the hugely centered factor of “family”.
A business of any size can write or design ads around these values, regardless of the industry in many cases. For example, even if you are an AC company and you are running ads in Arizona during the summer, you can tap into the effect that one should keep the house cool for their family.
Coca-Cola: “Siente El Sabor” (Feel The Flavor)
Now, this ad is super honed in on one message and feeling = PASSION. Hispanic (and really all Latin based languages) are romantic languages, and behind romance, is passion.
Coca-Cola did a great job here with visually showcasing passion and “feeling the flavor” as the message of their campaign, with of course a bottle of CocaCola connecting the two individuals, or drinking a Coke while doing what you love.
Whether you are a small or large business, find ways to tap into the “passion” side of things with the Hispanic community, as this will absolutely resonate with them.
The Key Takeaway
Whether you are a small business owner or a marketer inside a larger organization, I hope this post encourages you to look deeper into the Hispanic market to uncover opportunities for your business.
This is a perfect time to serve the Hispanic market while your competitors may not be doing so.
Article source : UPCITY