Why Your Business Needs To Target the Hispanic Market?
A marketing campaign is worthless if it doesn’t enable a business to connect with the right audience.
Therefore, businesses need to identify their target consumer market and target them specifically to ensure that their marketing efforts reap fruitful results.
In the United States, the Hispanic marketplace is growing rapidly, and lots of businesses are shifting their marketing strategies to focus on capturing the attention of this group.
Here are some of the key reasons why your business needs to target the Hispanic market.
According to the United States Census Bureau, the Hispanic population of the United States reached 58.9 million in 2017.
This translates to 18.1 percent of the nation’s total population, making them the largest racial or ethnic minority group in the US.
Furthermore, this number is projected to double by 2050, making them a very important and viable target audience.
Contrary to popular belief, the Hispanic market has high purchasing power. According to USGA study, the value of the US Hispanic market in 2020 is estimated to be around $1.7 trillion.
Though the Hispanic community plays a central role in agriculture, food service, non-technical, and other blue collar jobs, the statistics reveal that their buying power is quite strong.
Improved Brand Reputation
When a business tailors their advertisement campaigns for the American-Hispanic community, it reflects positively on them and leads to them having a better brand reputation.
It demonstrates that the business respects and values cultural diversity and is sensitive to local customs and values. Therefore, not only will it help you in your marketing campaign, but it will also add significant value to your brand image.
Hispanic people deeply respect their values, and beliefs. Moreover, they’re family-oriented and attach importance to friendship and allegiance.
Therefore, smart, well-curated marketing campaigns that target the Hispanic community are likely to be embraced and shared among their family and friends; remember, word of mouth is one of the most effective forms of marketing.
More and more businesses are identifying their online audience to enable better targeting. Internet usage among the Hispanic community in the United States is predicted to be nearly 82% by 2020, meaning it’s very important to do so.
This shows that the Hispanic community is a promising consumer base in the online marketplace in the upcoming years and mustn’t be ignored.
If you are seeking expert advice for crafting winning PR campaigns, get in touch with us at GoDiversity.
We are one of the best Hispanic advertising agencies that offer end-to-end marketing solutions to reach the multicultural market in the US.
Our ethnic marketing agency provides innovative advertising and marketing across a wide media platforms including TV, print, radio, social media, PR, direct mail, and mobile apps.
Comments are closed