The Importance of Understanding the Hispanic Buyer

Over the last few years, there has been a growing interest among marketers and companies to find potential Hispanic buyers for their products and services. However, many companies still hang onto cliches and stereotypes about the Hispanic population that prevents them from seizing opportunities that their competitors are taking advantage of.

Not fully understanding the Hispanic market can cause an advertisement to fail to connect with its audience, or worse, to accidentally offend the people it was intended to sell to. Not having the correct cultural understanding of the Hispanic population is a costly mistake. That is why it is so important to take advantage of opportunities to develop a deeper understanding of the Hispanic market and what matters to them.

That is why in January 2014 created the following infographic.

Hispanic Market Infographic

As you can see, the infographic demonstrates where in the United States the Hispanic population is growing the fastest which can help marketers to greater understand the changing demographics of this country and where to find potential Hispanic buyers.

It also includes information about Hispanic buying habits including the fact that Hispanics buyers outspend non-Hispanics on groceries, candy and electronics. An overwhelming majority of Hispanics also own mobile devices and spend almost all of their waking hours with their mobile phones at their sides. Over 75 percent of Hispanics also regularly communicate on social media platforms like Facebook, Twitter, Instagram and WhatsApp. This means that online marketing and social media marketing are fantastic methods at reaching the Hispanic market.

In conclusion the infographic reveals that Hispanics are more than two times likely to buy a product or service that is endorsed by a Hispanic. This should signal to all marketers the importance of hiring and consulting with native Spanish speakers with a proper understanding of the Hispanic population to ensure that their marketing efforts to Hispanics are effective and unoffensive.

If your company is considering beginning a marketing campaign targeting Hispanics, give us a call! We are experts at understanding the Hispanic population and can work with you and your organization to ensure a successful Hispanic marketing campaign.

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