Hispanic Marketing Trends for 2015
Marketing to Hispanic shoppers is rapidly changing and requires staying current on the different audience segments, behaviors and cultural nuances.
This blog will outline key demographic insights, content marketing opportunity, social media strategy, and geographical trends for Hispanic immigrants.
Hispanics + Millennials = Hispennials
Hispennials (Hispanics + Millennials) is fast growing and considered one of the most sought after markets. Twenty one percent of Millennials are Hispanic. Millennials are projected to comprise 70% of all CPG dollar growth share by 2020, and the Hispanic market currently has a $1.2 trillion buying power.
- Within all Hispanic marketing, the Hispennial is the most digitally savvy with both mobile and social media.
- Hispanics are expected to be 53% of the U.S. population by the year 2020.
- 70% of Hispanics are under the age of 40.
One of the biggest areas of opportunity to reach Hispennials is developing valuable content in both Spanish and English. Currently there is a lack of Spanish digital content. A recent Nielsen study shows that 60% of Spanish-speaking U.S. Hispanic consumers agree that there is a lack of Spanish digital content. According to Google, 56% of Hispanics that are not online cite a lack of Spanish content as the main reason why they are not using the Internet.
These insights provide marketers with a clear opportunity to reach Hispanics through valuable content delivered on digital channels.
Content Marketing: Hyper Local + Web Streaming
Hyper local targeting is one way to reach Hispanics by developing campaigns that are relevant to neighborhoods and how Hispanics shop and interact with their community.
As marketers develop campaigns, it is important to think about how your audience wants to be communicated with. It is not simply about creating a Spanish or English message. It’s about understanding culture, preferences and respectfully delivering a message that is authentic and not a sales pitch.
DirecTV recently introduced a Spanish-language web streaming service called Yaveo that will stream on-demand movies, TV shows, children’s, and sports programming over the Internet to PCs, Macs and Android devices in the U.S. The subscription model will cost $7.99 a month and deliver culture specific programming.
Atlanta is an Emerging Hispanic Market
Recent Hispanic immigrants are settling outside of traditional cities such as Los Angeles, New York, Miami and Chicago.
The Hispanic population in Atlanta increased 127% from 2000 to 2013, with a population of 750,000. A second emerging market for Hispanics is Charlotte, North Carolina.
Marketers testing new products and programs targeting Hispanics should consider testing in markets like Atlanta and Charlotte.
Facebook and .soy
Last year, Facebook launched the Hispanic affinity segment for targeting in the U.S., which allows marketers to reach approximately 23 million Hispanics who use the world’s largest social network. This year, Facebook launched more advanced targeting by language to include segments for Spanish-dominant, English-dominant, and Bilingual. According to Facebook, 42% of Hispanics use Facebook in both languages, 40% use Spanish while the remaining 17% use primarily English.
Google and Hispanic Marketing
Google introduced the domain .soy in October 2014. The domain which translates to “I am” is intended as a way for Hispanics to connect online. Response has been mixed so far with many people decrying Google’s monetization of Hispanic marketing.
According to a survey of senior level marketers conducted by Google, most brands didn’t have a marketing strategy to target Hispanics. It is also acknowledged that Hispanic audiences are early adopters of devices and over index in mobile and video consumption. The average Hispanic spends over eight hours watching online video content each month, which is higher than the U.S. average, according to a Nielsen report.
Hispanic users are also heavy users of mobile apps. Based on a Google Consumer Survey from July 2014, Hispanics are 1.5x more likely to buy mobile apps and digital media than non-Hispanics.
Mattel is one of the retail leaders in terms of creating bilingual marketing campaigns that include bilingual websites and cross brand promotion with the Fisher-Price Spanish language site, Pensamos en Todo, and the First Birthday program with a Hispanic campaign called Mis Primeras Mananitas.
What do marketers need to know to be prepared? Hispanic marketing is more than just developing a bilingual campaign. Remember…content is key, target your audience, and most of all, include a digital strategy.
Sources: Mediapost, IRI, All Over Media