11. There’s More than One Way to Skin a Gato – Part 1

Feb22010
Jim Stevens-Arce

BillboardsInSpanish_1aMother.
Family.
Education.
And success.

These are some of the core emotional touchstones an advertiser would do well to keep in mind when targeting Hispanics.
So, okay, let’s assume you’ve done that.
Now, how do you reach them?
(Outside of traditional media, which we’ll touch on in future posts.)

1. Hispanics tend to be group oriented.
They enjoy group outings such as soccer games, street fairs, and festivals.
So outdoor ads with simple messages located at or en route to these activities can generate large reach and frequency numbers at low cost.

2. Hispanics tend to shop in groups.
At the auto dealer, at the department store, at the supermarket, at the mall — you’ll often see Hispanics traveling in couples, trios, quartets, entire families.
That translates into more potential customers.
And more potential sales.
For example, “Buy One, Get One Half Off” deals can target both the shopper and the companions.

3. Hispanic families are often three-generational.
That means kids, parents, and grandparents.
So including the grandparents in ads targeting Hispanic families can be a wise marketing strategy.

4. Hispanics tend to place great stock in word-of-mouth.
When someone they respect speaks, Latinos listen.
So such a person’s endorsement of a product or service can be a powerful motivator for purchase or trial.

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5. To Hispanics, relationships matter.
Latinos like to feel like a friend, not just a customer.
So in your advertising — and in your place of business — it pays to treat them as such.

:: :: ::

Next time we’ll talk about some other effective ways to reach Hispanics.
And why they work.
Stay tuned.

Latino Consumer Spending Growth Outpaces the General Market

Jan192010
Jim Stevens-Arce

MoneyChartAccording to the experts, the U.S. economy began slipping into a recession in December 2007.

And then things got worse.

That’s common knowledge.

What may not be so well known is the surprising bit of good news that came to light in the last month of 2009 amid all of the mostly bad.

Turns out that even as the U.S. economy was contracting and consumers in general were cutting back, spending by Hispanics was shooting up by 6.4% — more than double the more modest 2.9% growth registered by non-Hispanics.

That’s from a report by the Latinum Network based on recent consumer spending figures released by the U.S. Bureau of Labor Statistics.

So in what major categories did the growth of Hispanic consumer spending far exceed that of non-Hispanics?

Well, they included, among others:

• cereals
• computers
• education
• entertainment fees and admissions
• food away from home
• laundry and cleaning supplies
• major appliances
• vehicle finance and insurance
• women’s apparel

And listen to these specific examples.

From 2007 to 2008, the food industry grew by $40 billion. Thirty percent of this came from Hispanic consumers.

Hispanics also spent 58% more on education (compared to 9% for non-Hispanics) and 14% more on entertainment admissions and fees (compared to a decline of 7% for non-Hispanics).

All of which reminds me of the closing questions I posed in my very first post to this blog four months ago.

What if there were a market for your product that you haven’t even tapped into?
A market 45 million strong.
And growing.
A market with a buying power of almost $1 trillion.
And growing.
Would you be interested?

With Hispanics outspending non-Hispanics in the midst of the worst economic downturn since the Great Depression, the question now is —

Can you afford not to be?

:: :: ::

Next time we’ll pick up where we left off with our previous post and talk about some effective ways to reach Hispanics.
And why they work.
Stay tuned.

10. Mañana Will be Better

Dec12009
Jim Stevens-Arce

GraduationMother.

And family.

In previous posts, we’ve touched on their importance to Hispanics.

And on why advertisers targeting Hispanics should be aware of that importance.

Two other things are almost equally important to Hispanics.

Education.

And success.

Like parents everywhere, Latinos harbor aspirations for their children.

For a better education.

A better job.

A better life.

They dream of seeing their children graduating from college.

Landing a good job.

Enjoying success.

And respect.

And economic security.

Advertising that reflects these aspirations —

That encourages them —

That celebrates them —

Can reach Hispanics on a deep emotional level.

Because it speaks to them.

And says you understand them.

:: :: ::

Next time we’ll talk about a few effective ways to reach Hispanics.
And why they work.
Stay tuned.