A Hidden Market Continues to Grow

By October 22, 2014Advertising, Business, Marketing
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In a Nielsen study highlighting the driving force behind Hispanic purchasing power in the U.S., it states that Latin women make 86% of the purchase decisions for their households. As a whole the Latin American population represents $1.2 trillion of the buying power in the US. Interesting right?

Here’s something you probably didn’t realize, but should definitely know:

“Latinas are becoming more educated, tech savvy and connected, allowing them to write their own destinies and challenge the dynamic of Hispanic households”, states the Nielsen study. In other words, Latinas are very informed buyers.

It takes more than simply using Google translator on your existing campaigns to reach this demographic. Taglines, phrases, adages and cultural sentiments don’t directly translate and therefore do not make the impact they should. In fact creating an ad solely in Spanish may not strike a chord with the Latina population and actually deter them from your brand.

What makes targeting first, second, and even third generation Latinas difficult for some? It takes learning how to effectively speak to us. We are as patriotic as the next American, but also connected to our ethnic roots.

If you want any shot of influencing us keep the following tips in mind:

Tip 1: Advertisements don’t necessarily have to be in Spanish in order to invoke a positive, emotional reaction. All-English and Spanglish ads can appeal to millennial Latin Americans.

Tip 2: Simply featuring Latin American subjects in your ad campaign doesn’t mean that you are catering to that audience. Everything from the copy to the ad placement should keep the segment in mind.

Tip 3: Acknowledge that the Latin American market is diverse within itself and not one Latino and Latina has the same background as the next.

We understand the nuances and complexities that are involved when targeting the Latin American demographic. Take our advice, it goes way beyond incorporating common phrases from high school Spanish class. Consider consulting experienced marketing professionals.

Source: http://www.nielsen.com/us/en/insights/news/2013/latinas-are-a-driving-force-behind-hispanic-purchasing-power-in-.html