Studies by Google have discovered that the Hispanic market has been vastly underserved in todays society. In an article titled Your Next Big Big Opportunity: The U.S. Hispanic Market they stated that even though the Hispanic Market is ahead of the tech curve and should be seen as the first prospects for companies seeking to grow their consumer base, their needs have not been fully met by todays industries. In its study Google surveyed a panel of senior-level marketers who saw Hispanics as source for 11-25% opportunity of growth within the next 3-5 years, yet most of todays brands still have no distinct marketing strategy to target this Hispanic audience whatsoever. If current day industries plan to reach this growing market whatsoever in the near future they need to move from just noticing the market to taking action.
According to a Experian report titled Hispanics Are Mobile-Dominant. Are Your Campaigns that states the Hispanic market is 17% more likely than Non-Hispanics to access the web through their phones, no wonder why Industry leading companies like Universal have created Youtube channels geared towards our audience. Although marketing to the Hispanic market goes far beyond just translating ads to Spanish for us to understand.
Because the current Hispanic market is well acculturated, simply translating ads from Spanish to english won’t be enough. Giving us autonomy to choose between languages for our preference is one of many tactics current day marketers are using to reach the market although it goes beyond that. Because Hispanics today prefer online over radio and TV marketers today have picked up the fact that cultural relevance is the key to engagement and influence for our segment. Sources from google have shown the online has been 20% higher than TV at 54% versus 34% for TV. According to the Think With Google article the Top 5 things can do to be culturally relevant include: (1)Relevant Topics And Product Features (2)Visuals (3)Language (4)Entertainment (5)Influencers and Testimonials. Personally speaking, at the end of the day what I feel marketers really need to pay attention to are the key signals like Food, Family, and Traditions.
The Hispanic market will only continue to grow in the years to come and with that companies must begin shifting their advertising strategies to better serve this segment. Mobile technology is the perfect forum for our segment to be communicated to, but this communication must be constructed in a way the appeals to our market with relevancy.