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American firms eager for new income streams need to look no
further than the Latino population.
Many American companies go broke because they are not marketing
their products to the right target audience. Targeting is key
for any business. They must know who their audience is for their
product. They also must know the best way to reach that target
audience. A business that sells sunscreen wouldn’t spend money
marketing to Eskimos living in Alaska. That isn’t their target
demographic.
That is important for businesses marketing to the Latino
community. Hispanic community members say much gets lost in
translation when American firms try to reach out to them. Merely
converting their English-language media solicitations to Spanish
is often ineffective.
The Latino community is more than just the similar language.
They are as diverse as any group. In the Latino community are
Cubans, Mexicans, Puerto Ricans, Peruvians, Ecuadorians,
Dominicans and Columbian to just name a few. When companies
tartget them they need to realize there are differences. They
should know their target.
They should also know their targets habits. According to a
survey completed in 2007, the Latino community is more likely to
spend money shopping for goods on the internet.
A
campaign supermarket chain Albertson's did with Google for
products for quinceaneras, the party traditionally held for a
Hispanic girl when she turns 15, according to Sarah Carberry, a
senior account executive with Google and a Cuban-American. The
campaign used keyword targeting and display ads to draw families
planning quinceaneras to Albertson's bakery, paper products and
flower departments in heavily-Hispanic areas.
Despite Hispanic-Americans having slightly lower household
incomes than their Caucasian and black counterparts, they spend
more on household goods like groceries, phones, furniture,
children’s apparel, footwear and small appliances.
According to studies, the U.S. has over 16 million Hispanic
Internet users with a 30 percent penetration rate, which is more
than the entire online population of Spain, Mexico, Argentina
and Chile. Latinos use the internet to purchase more DVDs, CDs
and concert tickets than any other group.
That is a lot of buying power that U.S. companies can’t and
shouldn’t ignore.
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Google wants to
create Internet cafés in Latin America
Hispanic population lags behind
when it comes to banking
Latinos
spend more on the Internet than counterparts.
Shopping habits of U.S. Hispanic
adults differ from the average U.S. adults one research
group found
The
Latino Consumers effect on the electronic marketplace. |
