The Hispanic market in the United States is growing by leaps and bounds. Finding ways to tap into this growing market is a must for any business wanting to stay on top of the competition. But the Hispanic market has its own unique customs and ways of doing business that must be taken into account by any business wanting to succeed with Hispanics. Here are some ideas that may help.
Doing the research can go a long way towards getting through. Many corporations don’t know their Hispanic customer base. How can a company project revenue growth when they don’t know who their customers truly are or whether they are fulfilling their needs? A smart company who wants to market to Hispanics will find out what percentage they represented, where they were located, what they bought from them, etc.
For many corporations, a Hispanic initiative means targeting to the traditional Spanish-speaking consumers through a partnership with a Hispanic network running translated messages or scripts into Spanish. But this may be a little short sighted considering that the growth of the Hispanic market will come from those born in the USA, bilingual, bi-culture, higher household income, higher level of education. Cultural relevancy is key to engaging with Hispanics. It is not about language, it is about culture and how well you understand it.
Businesses need to be diverse from within. If the business is in an area with a significant Hispanic population it only makes sense to have bilingual employees.
If you really want to be successful with Hispanic consumers, the best investment you can make is in education. Learn who they are, get exposed to their culture and how they interact with your brand. It will be the wiser businesses who make the investment in this market today. Only by doing so will they be assured sustainable growth for their business now and well into the future.