hispanic purchasing power Archives | National Hispanic Advertising Agency

3 Tips to recover sales using Hispanics

One of the things I truly enjoy at my agency (besides leading a great team) is speaking at different conferences. It gives me the opportunity to talk with executives and discuss how companies are growing their businesses by including Hispanics as part of their marketing efforts.

Throughout the years, I have found that marketing executives fall into two basic categories of thought on this topic: 1) They really understand the significance of the Hispanic market and realize the importance of seeking the right help to secure their company’s growth. 2) They think that this opportunity translates into more work for them, so the timing never seems right or it is simply not their priority.

These two different business mindsets are making the difference between success and failure. [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…]

Latinas. The driving force of hispanic households.

By Hernan Tagliani Leave a Comment

They run the household and soon could be steering your bottom line. Hispanic women, also called Latinas, play an important role when it comes to shopping for their households. Even though a father figure is a sign of respect and authority in a Hispanic family, mom most of the time is the one who runs the show and has the final word. I remember being a little kid asking my father for permission to hang out with my friends. After I got his approval he asked me, “Did you also ask your Mum about it?” I am sure this sounds familiar to many of you.

It is important to understand cultural nuances if you want to engage with this growing and influential target audience. It is curious to see on English marketing campaigns that the father figure is portrayed as somebody that doesn’t know what is going on or always breaks something in a household. This humorous portrayal of a father figure can make several target audiences laugh. However, if you try that with the Hispanic audience you will insult just about every Hispanic man if they are represented that way. These kinds of cultural nuances are important to keep in mind, and they prove why it is so important to stay away from literal translations when it comes to your advertising and marketing.

Based on the Nielsen report “Latinas are a Driving Force Behind Hispanic Purchasing Power in the USA,” Hispanic women are expected to represent 30% of the total U.S. female population by 2060. White female population is expected to drop 43%.
[Read more…]