The Hispanic market is anything but a niche anymore for businesses. With $976 billion in spending power, immigrant and U.S.-born Hispanics wield significant purchasing power (Hispanic Trends, Mar08). Plus, 47 million people, or 18 percent of the total U.S. population aged five and over, speak languages other than English at home with Spanish leading the way.

According to marketing industry publication, Deliver magazine, “Marketing departments now recognize Latinos as upwardly mobile, loyal, and tech-savvy consumers – characteristics that appeal to any consumer good or service company.” U.S. businesses across all industries are focus on the rapidly growing Hispanic market through targeted advertising spending and customized products. Reaching this expanding demographic and getting Hispanic consumers to hit the buy button or pick up the phone is dependent on a marketer’s ability to leverage language, lifestyle, and other cultural cues.

Hispanic consumers, for example, have a strong sense of family and respond well to marketing that contains images of people and messages about products and services that serve the household.

And, of course, language is also important. Only four other countries (Mexico, Spain, Colombia, and Argentina) have more Spanish-speaking residents than the U.S. A recent study by Roslow Research Group (prepared for Hispanic USA, June 2005) declares that the number of Spanish-speaking Hispanics will grow by 45% during the next 20 years.

Because immigrants often locate to specific areas, some Hispanics live in the U.S. for years without becoming fluent in English. Others may speak English well but feel more comfortable in Spanish. Some English-speaking Hispanic youths are undergoing what Sylvia Nieto-Vidal, Managing Partner of Multicultural Insights, calls “retro acculturation,” or a realization of the advantages of being bilingual or simply wanting to reconnect with their cultural roots.

The ‘bottom line’ for your bottom line - language is a tie that binds. But remember, if you distribute a marketing piece in Spanish and have non-Spanish speaking reps taking customers calls, you’re not going to get very far. If you solicit Hispanic consumers in Spanish, you have to deliver in Spanish.

Find out more.
Thais prefer doing business with people they respect – most of us do. But, it also helps to understand some of the standard norms and expectations for doing business in Thailand.

Marketers looking to effectively reach the Hispanic demographic can find out how at the 13th Annual U.S. Hispanic Marketing Event coming to Los Angeles September 22-25, 2008. Read more to find out about special discounted rates for our readers. The Global Communicator® is a media partner for the 13th annual conference, which will have representation from major brands such as ESPN Deportes, Johnson & Johnson, Time Warner, and Microsoft. When registering, use the code USGL to receive the 20% GC reader discount.

For more information about translating materials or localizing your website for Spanish-speakers, contact us. Or, find out more about the 13th Annual U.S. Hispanic Marketing Event.

SOURCES:
Brandweek magazine
Deliver magazine
Multicultural Insights