Expanding your Market to the Hispanic Population
Today, more and more marketing-savvy companies are implementing
strategies that target the Hispanic population. At this point, if you
are not questioning what it takes to get there, you’re behind
the curve and your company may be missing out on a fantastic opportunity!
Hispanic populations are the largest and fastest-growing ethnic groups
in the U.S. The sheer size of this group, combined with its ever-increasing
buying power, makes it a group that should not be ignored. In order
to reach tomorrow’s consumer, businesses must first understand
the basics of marketing to this vast ethnic group and go after it. Reaching
the Hispanic market isn’t a luxury, it’s a necessity.
Market Size
The ethnic Hispanic population has a median age of 25.9 years
and 3.9 members per household. It’s almost guaranteed that this
group will have a powerful influence on the market in the near
future. Currently, North Carolina, Tennessee, Alabama, Nevada
and Nebraska have the fastest-growing Hispanic buying power. When considering
the economic influence of this group, consider that the collective US
Hispanic buying power in 2003 was $600 billion and in 2007 their estimated
buying power will jump to $926.1 billion.
Watch Your Language
The best way to capture the loyalty of a target market is to
consider localization into Spanish and adapt your marketing
style to the various cultures that make up a diverse Hispanic population.
Market research and surveys can determine which tactics to use in your
community. Although Spanish is generally the common language among this
population, it’s a mistake to consider the Hispanic audience as
homogenous. Companies should take into account acculturation levels,
language preferences, and country of origin when adapting material
to Hispanic audiences. Again, Spanish is the common thread between these
groups, although different dialects and regional ties may exist.
The
Washington Times noted recently that numerous U.S. products have been
successfully translated into Spanish. From baking instructions in Spanish
on tubes of Pillsbury cookie dough, to children everywhere playing with
Dora the Explorer dolls that spout bilingual phrases and songs, seeing
Spanish as a part of packaging is becoming more and more common.
The national pharmacy chain Walgreens began printing prescription instructions
in Spanish in 2002 and now has a Spanish website with health information.
Since the website’s appearance, more than 4 million Spanish-speaking
patients have signed up for the service. Additionally, the baby
boom in Hispanic births is fueling growth in the toy industry. One in
four babies born in the U.S. is Hispanic, so companies like Hasbro Inc.
have increasingly added Spanish to their game instructions and incorporated
the language into their toys.
Look at All the Pieces
Translating instructions, advertising, and product literature
into Spanish should now be considered a natural and necessary
step in the creation and marketing of a product. In a recent study testing
memory recall of advertisements, 38 percent of Hispanics surveyed found
English language ads less effective than Spanish ads. In addition to
effectiveness, the ads were also found to be more persuasive when delivered
in the Spanish language. Though younger Latinos often use Spanglish (English
with Spanish words mixed in), they responded best to advertising
when presented in Spanish. Don’t neglect translating your direct
mail advertising into Spanish, either. Interestingly, Hispanic
households are 3.5 times more likely to respond to a direct mail solicitation
than a non-Hispanic household. This number illustrates the profitability
of using Spanish when marketing to the Hispanic audience.
Print,
radio, and television are not the only ways that Spanish is being used
in marketing materials. Event marketing that takes place on a community
level, often including concerts and demonstrations, can also
work to a company’s advantage. Marketing to Hispanic populations
via the internet is becoming increasingly lucrative. It is estimated
that 65 percent of U.S. Hispanics access the Internet. This percentage
will only grow as familiarity with the medium grows in Hispanic
communities.
Where to Turn For Help
Although you should be able to turn to your translation agency
for help determining which dialects or regional Spanish variations
to use when you’re localizing your products, you have to be careful
here. Reaching this market requires more than just translation. To ensure
that the sometimes subtle nuances of your communication are considered,
you need to look to a translation agency that offers cultural adaptation
services. For instance, the agency and their translators can suggest
idioms and familiar phrases that will speak directly to the emotions
of your audience. Cultural Adaptation Services can mean the difference
between a piece that is simply translated, and one that will truly “say
what you mean.” In addition to the translation resources to the
table, your translation agency should employ a solid methodology for
completing your translation projects accurately, on time and on budget.
But just getting started is the first step and, as bilingualism grows
in the United States, it’ll be reassuring to know that your company
will be able to change and adapt to the market.