17 Oct Looking for Latino Marketing? Here’s What You Need and Why
It’s no surprise that Latinos are a fast-growing segment in the U.S. market. There are, of course, various different types of Hispanics from millennials to first-generation and more. So, what is going to make for the most effective campaign when a one-size fits all solution doesn’t work when marketing to Latinos?
Here’s some pointers for companies looking to market to Hispanics:
1) Hire a Multicultural Marketing Agency
Of course the multicultural marketing agency is going to tell you to hire a multicultural marketing agency. But, if you expect to effectively target Hispanic markets, this is a must. Why? Because it can be hard enough to navigate the multiple Latino markets, much less understand all of them. Targeting a Latin audience requires the right insights and know-how.
Companies that want to build serious connections with the Hispanic market are best served when hiring an agency that specializes in this market. Companies working with agencies that don’t understand Latino consumers tend to sabotage their potential in reaching the Hispanic market and suffer from problems with their bottom lines as a result.
2) Focus on Transadaptation, Not Translation
Simply translating content from English to Spanish won’t cut it. This is where companies fail when it comes to initiating a Hispanic campaign. The fact of the matter is, content that works for English-speaking consumers doesn’t necessarily work for Latinos. Latinos have their own culture, lingual nuances, and ways of interacting with advertising that doesn’t match the typical American. If you don’t understand how Latinos search for information, what cultural insights are necessary, or what marketing they best respond to, you cannot expect to create content or campaigns that are relevant to the Hispanic market.
3) Don’t Second-Guess the Value of Hispanic Marketing
Many companies are unsuccessful when marketing to Latinos because, frankly, many of them do not allocate the proper budgets.
The top 500 advertisers in the U.S. utilize between 5 and 6% of their budgets when targeting Latinos. These expenditures are a full 10% lower than the actual demographic presence of Latino consumers in the U.S. market.
Because of smaller Hispanic marketing budgets, many campaigns fail simply because of lack of capital. This is a simple fix. Simply, allocate a few more dollars to boost your marketing efforts for Latinos. It’s a smart investment that could go a long way in differentiating your brand in the minds of 50+ million active Hispanic consumers.
But again, don’t waste your advertising dollars on agencies without multicultural capabilities. Be smart about how you market to Hispanics. Hire the right agencies with the right know-how, and your market share will thank you.
This article was based off of information found via MediaPost: http://brinx.it/Aw7