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Minorities on track to become the majority: Here are 3 key ways to assure business growth

This article was originally published online by the Orlando Business Journal.

It’s only a matter of time.

Minorities will hold a 56 percent majority in America by 2060, according to the U.S. Census Bureau. Yes, you read it right. Whites will comprise just 44 percent of U.S. population within 45 years. By 2060, the non-Hispanic white population, currently the majority group, is projected to drop from 198 million in 2014 to 182 million.

Meanwhile, Hispanics will account for more than 40 percent of employment growth in the next five years and more than 75 percent between 2020 and 2034, according to a new study from HIS.inc (NYSE:HIS). This population is projected to increase from 55 million in 2014 to 119 million in 2060. That’s a 115 percent increase, meaning more than one quarter of our nation (29 percent) will be Hispanic. [Read more…]

4 ways to market to U.S. Hispanic tourists and their $56B impact

By Hernan Tagliani 4 Comments

This article was originally published online by the Orlando Business Journal.

If your firm isn’t marketing to Hispanic travelers, you may be missing out on a lot of revenue.

In the U.S., Hispanic travel is growing at a faster rate than the general market, with an economic impact estimated at more than $56 billion annually in leisure travel, according to the National Tour Association.

Hispanics, who see taking vacations as a sign of success, represent a growth in cruise vacations of 34 percent vs. 21 percent on non-Hispanics, 11 percent vs. 0.2 percent on foreign travel, and 13 percent vs. -0.4 on domestic travel, according to Experian’s Simmons National Consumer Study. Hispanics also represent 11 percent of hotel guests within the last 12 months, or $17.1 billion, according to the American Hotel & Lodging Association.

In addition, about 31 percent of Hispanics travel in a group of four or more, compared with 25 percent of the general market. The reason: Traveling is a good family bonding activity and they do almost everything together as a group. So, when Hispanics are ready to take a vacation, they travel to and with their families. Even on business trips, Hispanics tend to bring their family.

Thus, there’s a big opportunity from all different sectors within the tourism industry to build brand loyalty among Hispanics.

So, how can you engage with this consumer? Here are four key tips:
[Read more…]

Answer these 5 questions for a stronger SEO strategy

By Hernan Tagliani Leave a Comment

This article was originally published online by the Orlando Business Journal.

The market is evolving at a fast pace, so having a strong digital presence on the web is crucial for any business today. That’s because many people think if you’re not on the web, your business isn’t trustworthy.

Often, business owners feel overwhelmed when they think about how to get the right traffic to their site. Search engine optimization (SEO) is vital if you want people to find your business online. It will generate leads, set you apart from your competition and, ultimately, improve sales.

Chris Romero, webmaster and SEO expert, shared these insights about SEO and how to drive free organic traffic to a company website: “Most SEO is simple common sense. The more your site is being talked about online from social media posts, forums and press releases, the more traffic you will get. What also helps is how much content your site has that is being shared by others and that readers find truly informative.” [Read more…]

4 Key Hispanic marketing predictions for 2015

By Hernan Tagliani Leave a Comment

This article was originally published online by the Orlando Business Journal.

As the New Year starts, there are many lessons companies have learned from marketing to Hispanics during 2014.

For starters, the old way of thinking, “I always did it this way” or “Hispanics are part of my general marketing efforts,” proved to be unproductive, limiting company growth, sales and return on investment.

And that turned out to be a big wake-up call to many companies. [Read more…]

4 Ways to market to Hispanics this holiday season and boost your profits

By Hernan Tagliani Leave a Comment

This article was originally published online by the Orlando Business Journal.

The holidays are here, and many retail stores are eager to reach or even surpass their sales goal for the year. According to Nielsen Annual Sales Forecast, holiday spending is expected to rise 1.8 percent in 2014, compared to 1.2 percent in 2013. Minority consumers — Hispanics, African Americans and Asian Americans — will help fuel this growth in sales significantly.

Try Reading this: 4 Tips to boost your bottom line with Hispanic Millennials

Even though 10 percent of the U.S. population plans to spend more this holiday season than last year, multicultural consumers account for 43 percent of projected extra spending. About 17 percent of African-Americans, 13 percent of Asian-Americans and 13 percent of Hispanics plan to increase their spending, according to the forecast. [Read more…]

5 Ways to improve ROI with Hispanics

By Hernan Tagliani Leave a Comment

Many companies are trying to reach out to the Hispanic market as a venue to grow their business. But they haven’t been successful. At a recent national conference, a marketing executive shared with me that his company has been very proactive in the community but they haven’t seen a substantial ROI yet.

I asked him what a ‘proactive involvement’ meant to him. He said that his company had bilingual employees on staff and that they were sponsoring a couple of Hispanic events during the year. When I asked him what type of support his company was giving to his bilingual sales team, he said they spend millions of dollars in advertising each year. So, he thought that they were penetrating the Hispanic market through their general Anglo marketing efforts. This is a common misunderstanding.

Hispanics are the second largest consumer market in the USA. You must have a multicultural strategy and plan in place to succeed. The Hispanic market is not homogeneous. You cannot capitalize on this economic powerhouse by using the same old blanket campaign approach.

I have seen many companies fall short with their Hispanic initiatives because of two main misunderstandings: 1) They assume they are reaching this community with their general marketing efforts. 2) They think that by simply having bilingual people on staff that the demand is covered. [Read more…]

How Hispanics can feed your business

By Hernan Tagliani Leave a Comment

There are many industries that can benefit from the incredible growth of the Hispanic market. It is estimated that their purchasing power will reach $1.5 trillion dollars by next year.

According to the latest research from Burke and Univision,”Casual Dining Restaurants Landscape Research 2014,” restaurants can significantly benefit from Hispanic Millennials, also known as Generation Y. It 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.

This group represents the growth of the Hispanic community. It is estimated that 65% of U.S. Hispanics are Millennials between the ages 22-35 years of age.

[Read more…]

Hispanics and brand loyalty: myth or fact?

By Hernan Tagliani Leave a Comment

U.S. Hispanics are known for being brand loyal from generation to generation. As they are big believers in word of mouth, they can be the best ambassadors of your brand. However, they can be more particularly loyal to specific brands and/or categories, especially at certain stages of their acculturation levels.

Based on a study from ThinkNow Research, 30% of Hispanics and 29% of non-Hispanics said they “always” buy the same brand, across all seven selected product types. “Always” and “mostly” were chosen 56% of the time by U.S. Hispanics, compared to 58% of non-Hispanics. This research was focused on 7 products: laundry detergent, toilet paper, pasta sauce, bottled water, dishwashing soap, toothpaste, and orange juice. [Read more…]