Hispanics will account for more than half of the U.S. population growth by 2020 and 85 percent by 2050, comprising a market you no longer can neglect or ignore if you want to sustain growth in your company.
So says the Nielsen report, “The Multicultural Edge: Rising Super Consumers.”
Further, digital plays an important role in engaging with this audience, offering you the chance to reach them effectively and efficiently. It also gives you the opportunity to be geo-targeted on your marketing efforts.
Sixty-six percent of U.S. Hispanics said they pay attention to online ads, according to research from Google and Media CT. That figure is almost 20 percent higher compared to the general market.
Hispanics are leading the adoption of mobile devices, with 83 percent accessing the Internet through their mobile devices, according to Google. They also use their devices while they are in a store to decide on a purchase in real time.
When it comes to gathering information about something they want to buy, they prefer online sources over family, radio and TV. This is why it’s very important to start reaching them at an early stage in the purchase process. Create an image, opinion and desire for your products or services before and during the purchase process. Social media can play an important role and be a good ally for your online success.
Online advertising is a must-have as part of your Hispanic media plan. Online influence ads rank high in terms of effectiveness across video, display and search platforms. According to the latest research, 93 percent of Hispanics take action—whether they are visiting a company site, doing a search or making a purchase.
This proves Hispanic marketing is evolving from an opportunity into a necessity for business survival. If you really want to engage Hispanics online effectively and efficiently, keep these three tips in mind:
• Analyze your market and audiences: Determine the areas or markets you want to reach. Invest in research to understand what type of consumers they are, acculturation levels, online access, foreign born, U.S. born, etc. This will help you to determine the right strategy and the best way to engage them.
• Determine the right media mix: I always tell the CEO or CMO, “Don’t put all your eggs in one basket.” Some advertising agencies push for TV and a little bit of radio. You need to make sure you connect with Hispanics in all different ways. Each media has its own weaknesses and strengths. Make sure you have a multimedia plan.
• Provide the right content: According to Google research, 70 percent of Hispanics said it is important that a website has culturally relevant content while they are gathering information about a purchase. This applies to online ads, too. When an ad or site includes aspects of their culture, 88 percent pay attention to them and 41 percent feel more favorable about the brand.
Make sure to reach Hispanics online in English and in Spanish. Cultural relevancy is key to ensure greater results. Also, Spanish keyword searches have substantially increased from 65 percent in 2011 to 200 percent in 2014.
In the coming years, your revenue will be measured by how fast your company embraces minorities as part of your business growth. Start today to ensure steady growth well into the future.