The Next Big Market? Hispanics! 2 Steps to Marketing Success
The following is an excerpt from DirectMarketingIQ's recent report, "Selling to the Hispanic Market, 2nd Edition: Direct marketing best practices for the Hispanic market, including direct mail & email marketing, market segmentation, list selection, fulfillment, language usage, creative strategy, Web marketing and more."
Looking for a market that's growing exponentially, both in size and spending power? If you haven't already developed a strategy for winning over the Hispanic market, then consider that research from the Selig Center for Economic Growth estimates the purchasing power of Hispanics to mushroom to $1.5 trillion by 2015 — double the national rate for the past decade. And yet Hispanics continue to be underserved by companies, especially when it comes to direct marketing communications.
To tap into the potential of this rapidly expanding group — at 50.5 million, Hispanics now make up 16 percent of the U.S. population, up from 12.5 percent in 2000 — you need to educate yourself on the specifics of how to effectively reach, engage and motivate Hispanics with your direct marketing campaigns.
Here are two essential steps to marketing to U.S. Hispanics:
1. Speak the Right Language and Give the Appropriate Offer
There are three choices:
a. Use Spanish-language lists when mailing in Spanish.
b. Use English-language Hispanic-surname lists when mailing in English.
c. Use both types when using a bilingual piece.
The choice of Spanish-language generated vs. Hispanic-surname lists depends on what language you are mailing in.
Understand assimilation and acculturation and how it can affect your message. The difference is simple: Assimilation is about blending into an existing culture. Acculturation is about keeping your own identity, ethnicity and language. To market successfully to Hispanics, you need to focus on acculturation — the unique differences between your prospective markets.
Prior to printing, have your piece read by someone fluent in the nuances and idioms of the language. You want to use a "generic" Spanish because certain words or phrases are offensive or have a totally different meaning in various Spanish dialects or cultures.