The Growing Importance of Marketing to Hispanics
If your business isn't marketing to Hispanics, you could be missing out on a huge opportunity. Hispanics are the largest and fastest-growing minority group in the United States, making up almost 19% of the population. And their buying power within the U.S. is almost $2 trillion. So, if you're not marketing to Hispanics, you're missing out on a huge opportunity to grow your business.
To successfully market to Hispanics, you need to understand their culture and values. For example, Hispanic culture is very family-oriented, so businesses that can appeal to that value will be more successful in winning over Hispanic customers. Additionally, nearly 60% of Hispanic adults say they're more likely to buy from a brand that offers bilingual advertising and 41% say they would pay more for products and services from companies that use Spanish in their advertising.
Another key consideration when marketing to Hispanics is knowing which language to use. While most Hispanics in the U.S. are bilingual, there is still a significant portion of the population that only speaks Spanish (34%). So, if you want to reach the widest possible audience, you need to create advertising and marketing materials in both English and Spanish.
The Hispanic population in the United States is growing rapidly and has considerable spending power. To tap into this market, businesses need to understand Hispanic culture and values and create advertising and marketing materials in both English and Spanish. By doing so, businesses can expand their reach and increase their bottom line.