According to the last complete U.S. census (2010), the Hispanic growth rate, at 24.3%, is the highest of all ethnic groups. U.S. Hispanics, 44.3 million people, accounted for 12.5% of the country’s total population, and that percentage is expected to increase to 24.4% by 2050.
The Hispanic market, however, is anything but homogeneous. Country of origin, level of education, economic bracket, first- or second-generation status and many other factors influence each individual and help create distinct and marked differences among the many groups of Hispanics. Over twenty countries of origin are represented by Hispanics living in the United States: e.g., countries in Central America, South America, and the Caribbean, as well as the countries of Spain and Mexico (the country that claims the majority at 64%). This much diversity makes the creation of culturally relevant messages a very complex task.
Although many Hispanics become fully integrated into the American culture, and may even have buy-in to many of the “apple pie” values that are at the root of our culture, most still adhere, as well, to values from their cultural heritage. These cultural values—which include such things as ancestry, colony of origin and religious beliefs—are harder to perceive but remain factors that can influence Hispanic citizens a great deal. You cannot simply depend, therefore, on a direct translation of your marketing materials from English to Spanish to serve as an effective means to cross these cultural barriers.
The good news is that if you take the time to understand each of the market segments you want to reach, you can be very effective in your marketing efforts. For example, if you know that bilingual Hispanics search online first in Spanish and then default to English, and that they prefer to speak Spanish at home, you will more likely seize the opportunity to differentiate your organization in a way that can serve these preferences. For example, you can provide the option of listing online information in Spanish, or you can send direct mailings in Spanish to certain markets.
Even if you do not target Hispanic consumers directly, consider the important fact that Hispanic business ownership is growing three times as fast as the national average. The question of the day, then, is this: Can you afford NOT to engage this niche audience?
Key Point – Because of its buying power and its population size, you need to consider how reaching out to the Hispanic market fits into the future plans of your organization.
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