Hispanics are growing at a fast pace. By 2050 the population is expected to grow 167%, making Hispanics the fastest growing subgroup in the American marketplace.

According to a report from the Pew research Center “What is the future of Spanish in the United States”, there are more than 37 million Spanish speakers, making Spanish the most spoken non-English language in the USA among people ages 5 and older. Since 1980, this number grew 233% when there were 11 million Spanish speakers.

Whether they are foreign born or U.S born, what keeps this community together as a strong group is a very defined culture from motherland Spain, thought by the Catholic Church. Also, they share one language: Spanish and the pursuit of the American dream.

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Multiculturalism is redefining what it means to be American today.  Acculturation levels, language of preference, and country of origin make for unique sub-groups within the U.S. Hispanic market. The biggest mistake that a company can make is to view it as homogeneous. This market is comprised of subcultures from over 20 countries in Central and South America, including Spain and the Caribbean.

So, is it Hispanics or Latinos? It’s a question that people have struggled to answer when deciding what to call this growing group (which is now the second largest consumer market in the USA).

It is important to understand that “Hispanic” or “Latino” refers to an origin or ethnicity, not a race.

“Hispanics” refers to language, whether you or your ancestry came from a country that speaks Spanish. This term was adopted in 1970 during the Nixon administration for political purposes.

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The success of an advertising campaign relies on a series of controllable and uncontrollable factors that will determine the end result. Knowing exactly who your target audience is, the consumption patterns and what triggers or motivates the purchase desire, will help you reach your audience successfully.

The success of an ad campaign also relies on the perfect balance (50%-50%) between messaging and the right media selection. Sometimes, this is a big hurdle and ad agencies need to understand that success is not measured based on the piece of art created or the award won at the last creative competition. It is based on the results and ROI the client was awarded through their marketing efforts.

You can have a strong and compelling story to tell, but if you don’t have the right media selection, it is all money wasted.

Every Hispanic media has their strengths and weaknesses. It is important to have a cohesive media plan where all vehicles will support and complement each other during the period of the campaign.

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The World Cup is around the corner and your sales can dramatically increase by having the right strategy that appeals to Hispanics. There are many things Hispanics from different nationalities and generations have in common, such as language, culture and food—but sports are central to their identity. Soccer is the king. Their favorite teams are passed down through generations, creating a strong family bond.

Soccer games featuring Mexico “El Tri” are among the hottest sports properties, drawing immense viewership among Spanish-speaking sports fans. Considering that 73% of Mexican Americans speak mostly Spanish or are bilingual, these games are a sure bet to draw huge audiences, emphasizing the combined influence of language and country of origin.

Soccer is a cross-cultural appeal that unites Hispanics including the general market. It is a great opportunity for your company to leverage this consumer’s passion and emotional connection with the sport by associating your brands with soccer. The right understanding will help you grow your business significantly.

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For some companies the Hispanic market means an opportunity to expand their businesses. For others it is the million-dollar question: should they do something now or wait until they have to?

As the Hispanic community is the 2nd largest consumer market in the USA, you must have a true understanding of their culture and how to engage with them.

Other than the right form of advertising, one of the most effective ways to be successful in this market niche is community outreach. You must make a genuine effort in being part of and giving back to this community. For example: Sponsor Hispanic festivals, provide some scholarship opportunities, participate in events and others. Your company needs to show the appreciation for their trust and business.

Sometimes, companies look at community outreach as a quick way to generate revenue. They become members or sponsors of some Hispanic non-profit organizations. They sponsor a couple events during the year but they don’t fully embrace the effort by making an impact in the community. They don’t even have a marketing strategy or media buy in place to reinforce these half-hearted efforts.

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The clock is ticking and brands must finally resolve their fate with Hispanic consumers. There are a lot of misconceptions and myths about marketing to Latinos. Many corporate American businesses still have a tendency to look at this market as homogeneous, whether they are people that speak Spanish or just Mexican people.

With Hispanic purchasing power expected to reach over 1.5 trillion dollars by 2015, you must have a true understanding of this market and their level of acculturation. Because one direction or another, this fact will significantly impact your company’s bottom line.

Brands aren’t doing enough to know who Hispanic consumers are, how they naturally think, and what cues trigger their behaviors. We live in a fast world where sometimes companies try to make a quick buck without seeing big the picture. They are trying to get from point A to C without taking the necessary steps.

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Have you ever heard the term retro-acculturation? Does it sound like a study of vintage items in different cultures? Think again.

Retro-acculturation is commonly known as the practice of adult Hispanics wanting to learn or improve their Spanish. The question is: why do people want to improve their Spanish in a country where the “dominant” language is English? The answer is simple: many Hispanic families moved to the United States years ago with the purpose of having a better future and reach the American dream. Generations went by and the culture and heritage started to fade. Now, they want to revive their cultural roots.

Retro-acculturation plays a big role in these particular cases. Many young Hispanic Millennials born in the U.S. are going back to their roots by showing their offspring the richness and value that the Hispanic culture has. One way or another it has impacted their lives and it is a part of who they are. They are not only improving their Spanish but also teaching their kids the language and culture in general, showing the importance and impact that being bilingual and bicultural can have in one’s life. As teenagers, many young Hispanics don’t want to be associated as the typical Latino or Latina watching telenovelas and eating some pernil, but as time passes they start feeling that necessity of reconnecting with their roots. Read Full Article

Hispanics are becoming a significant influence in mainstream culture in the U.S. Not only are they the largest minority group, but also the fastest growing segment. It is estimated that 1 in 5 people are Hispanic in the U.S., and that number will increase to 1 in 3 by 2050. Just about every business needs to pay attention to this market.

Hispanics are a young and vibrant community. Within that community, the average age is 27 years old, which is 10 years younger than the general market. The Hispanic Millennial group is drawing a lot of attention from corporate America.

Millennials, also known as Generation Y, refers to anyone born in the U.S. between the early 1980s to the early 2000s (approximately ages 13 to 35). This young group contains the marketing “sweet spot” of 18-25 year olds, which is a very lucrative market for many industries.

According to a study from PNC bank, Hispanics between the ages of 20 and 29 carry about $10,000 less debt than other Millennials. The average debt of this particular age bracket is $18,000, versus $27,800 for their peers. This age group of Hispanics is also more likely to be saving on rent by living with their parents (45%) compared to their counterparts (39%). Read Full Article

 

We say happy wife, happy life. There is a lot of truth behind that phrase. It was a big lesson learned by a close friend of mine when he was ready to become a homeowner with his wife after renting an apartment for a few years. After all, it’s mama that runs the household, especially in Hispanic families. That’s why many smart business owners are learning how to connect with Hispanic women, also called Latinas, and growing their business significantly because of it.

Latinas play an important role when it comes to shopping and purchasing big-ticket items. According to the NAHREP report “State of Hispanic Ownership,” Hispanic homeowners grew over 58% during the past 12 years while the rest of U.S homeowners only grew 5%.

Hispanics are a young and vibrant community. Based on the latest Nielsen report “State of the Hispanic Consumer,” it is estimated their average age is 27 years old, which is 10 years younger than non-Hispanics. Their household income of $50k+ is growing faster compared to overall population. There are more Hispanics attending college than ever before. So the role that Hispanics will be playing in the housing market will be very significant now and in the near future. If you are in the real estate industry, it is a market you have to start building on. Read Full Article