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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.