Many companies are trying to reach out to the Hispanic market as a venue to grow their business. But they haven’t been successful. At a recent national conference, a marketing executive shared with me that his company has been very proactive in the community but they haven’t seen a substantial ROI yet.
I asked him what a ‘proactive involvement’ meant to him. He said that his company had bilingual employees on staff and that they were sponsoring a couple of Hispanic events during the year. When I asked him what type of support his company was giving to his bilingual sales team, he said they spend million of dollars in advertising each year. So, he thought that they were penetrating the Hispanic market through their general Anglo marketing efforts. This is a common misunderstanding.
Hispanics are the second largest consumer market in the USA. You must have a multicultural strategy and plan in place to succeed. The Hispanic market is not homogeneous. You cannot capitalize on this economic powerhouse by using the same old blanket campaign approach.
I have seen many companies fall short with their Hispanic initiatives because of two main misunderstandings: 1) They assume they are reaching this community with their general marketing efforts. 2) They think that by simply having bilingual people on staff that the demand is covered. [Continue reading]