Why is the Hispanic market important for your business?

Hispanics continue to be the fastest-growing segment of the total U.S. population, and the influence of this segment of the population is being seen in all aspects of the culture. Companies across America  are awakening to the importance of Hispanic consumers and their growing purchasing power.  http://www.nielsen.com/us/en/insights/news/2013/latino-populations-are-growing-fastest-where-we-arent-looking.html

Let’s review the numbers:

  • Hispanic population: 56.6 million by July, 2015, 17.6% of the nation’s total population.
  • 40 million is the number of residents who speak Spanish at home.
  • $41,000 is the medium income of Hispanic household in 2015 http://www.upatlanta.com/pdf/hispanic-makes-sense.pdf

Though brands still remain cautious in their approach, they are beginning to realize that if they don’t act now, they may never get a second chance. The companies that are making a serious commitment to the Hispanic market have already realized that more success will come to those who support specific Hispanic business models targeting the Hispanic consumer. You don’t have to be of a specific heritage to sell to that particular cultural group either – you just need to invest the time to learn about their cultural characteristics and  the values that would drive them to trust your brand. For instance, Hispanic consumers don’t want to be sold to, they want to connect with brands that embrace their culture and commit themselves to earning long-term and trustworthy relationships.

If you still do not offer your products to the Hispanic market, because you do not how to do it in our next post we will give you some tips about how prepare your brand to grow reaching new markets.

 

 

Published by UP Advertising LLC

Founded in 2013 Up Advertising is a full-service multicultural advertising and digital marketing agency specializing in reaching diverse ethnic groups nationwide. We create marketing visions and innovative multicultural campaigns around those visions for brands to gain customer loyalty and market share with their target audience. Our approach is both strategic and tactical to establish lasting relationships with our clients while accomplishing immediate objectives. Finally, we ensure that campaigns are cost-effective and measurable. With more than 17 years of experience UP Advertising is the #1 Multicultural Marketing Agency in Atlanta. UP Advertising knows the importance to give back to the community, we work together with Latin American Association, Georgia Hispanic Chamber of Commerce, NMSDC and many non-profit organizations to help others, we believe that by helping others we help ourselves to be better people and citizens. Our corporate experience covers to small and mid-size companies. Our category and market experience covers advertising, banking, education, entertainment, financial services, franchising, government, technology, medical, non-profits, publishing, real estate, telecommunications and travel & tourism. No matter what industry or culture you and your company represent, Up Advertising is happy to answer your multicultural marketing questions and needs. Call or email us to see how we can effectively manage your campaigns

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