An Innovative Approach to Hispanic Marketing for Business Expansion
Posted by Turnoverweb on June 24th, 2015
Many US-based firms see attracting Hispanic consumers as a corporate imperative, given their demographic and economic significance. In fact, huge companies are spending tremendous resources to secure their market share with Hispanics, especially since they are projected to grow at least 167% in the next 50 years. Dubbed as the "fastest growing ethnic segment," it only makes sense to make the effort to capture the often elusive market.
What businesses need are innovative, well crafted, and data-driven approaches and strategies to reach out to the Hispanic marketplace. This means incorporating every aspect of marketing, financial assessment, and overall business strategy to be able to comprehensively assess market opportunities in Hispanic communities. Latinos are fast emerging as a powerhouse not only of political but also of economic influence, which present marketers with an increasingly prominent and influential consumer group that can truly translate into major business impact. Understanding how your business can connect with their unique consumer profile is key to successfully engaging and earning their trust.
To this end, what businesses need is an innovative and comprehensive approach that highlights three things—a deep understanding of image and brand building for Hispanics, their critical voice, and their traditions. A micro-localized and well-targeted approach is crucial to determining the best practices in reaching out to this unique and powerful consumer segment.
Defining your business' goals and objectives for the benefit of your Hispanic market is critical to win them over. You need an effective extension of your brand and business-unit specific strategies that will attract your Hispanic audience close to home. Having a solid strategy for this specific demographic instead of including them in your general marketing approaches will more likely see success in attracting them and building their trust.
Going hyper-local is very important if you want a strong Hispanic marketing strategy. Hispanic interactions with various marketing channels are hugely different according to age, market segment, as well as their level of acculturation (attitude between their cultures). A thorough understanding of these factors and differences will help you determine the right strategic approaches, market sizing, and channel strategies to implement in order to best attract growth in their segment.
Finally, seek help from the best people who know exactly how to deal with the market you are targeting. Web marketing companies specializing in very specific demographics and audience segments are the best places to turn to if you wish to strengthen marketing and gain your fair market share in your target demographic.
About the author:
The article writer Elizabeth Cachay is associated with Turnover. Turnover is a digital marketing firm specializing in Search Engine Optimization, Local Search, Social Media Marketing, Conversion Optimization, Analytics & Tracking, Reputation Management, Mobile SEO, and Spanish SEO.
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About the AuthorTurnoverweb
Joined: December 17th, 2013
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