The Clout Culprit
The word “Hispanic” is used often to describe a wide range of people, but what does it really mean to be “Hispanic?” The ethnicity, not race, generally refers to any individual that traces the roots of their relatives through Mexico, Puerto Rico, Cuba, or any other Spanish speaking countries of Central or South America. This is a vast region and encompasses a wide variety of people and cultures; however they are all classified as Hispanic.
To be Hispanic in the United States is something that has changed drastically in the past decade. With the rise of population reaching new high of 50 million people and counting, the Hispanic community is becoming a force to be reckoned with.
Creating a Connection
This community becomes a golden opportunity for marketers because the growing community is becoming a lucrative market enriched with culture, a growing sense of patriotism, and sheer numbers. The bottom line is if you see a group flourishing and expanding, chances are this group is going to continue to do so. It is project by the United States Census Bureau, that by 2050, 33% of the entire population in the U.S. will be Hispanic. This number is significant realizing the numerous ethnicities that reside in the country.
The Hispanic market is a marketing goldmine for this very reason. If marketers can figure out what makes them tick now, they can gain their trust and loyalty and build a lasting relationship that will preserve into the future as the community thrives.
Culturally Challenging
Although a lucrative market it may be, the Hispanic community is no easy target market. The deeply dynamic group of individuals reside form twenty-some countries- each having its own culture, traditions, rituals, and beliefs. While they are all Hispanic, the term is very general and it would be fallacious to consider them all the same. For instance, even though Hispanic cultures all speak the Spanish language, dialects and accents vary within sub-cultures and can change the way they interpret things. It is important to know that not all Hispanics are created the same and sensitivity to the different regions and sub-cultures is important in maintaining them as your target market.
The Cultivation Commencement
Some businesses have already caught on to this idea, Listen Up Español, a Spanish language call center, has a branch in Hermosillo, Mexico. There, the sales representatives have a neutral accent that allows them to relate to each caller better.
The bottom line is that the Hispanic market is a group brimming with potential and opportunity. The key is to understand the market on a personal level that will allow you to give them what they want. Researching the cultures and developing a plan to implement your research is the first step in gaining an invaluable opportunity from this promising group of culturally diverse individuals.
http://www.census.gov/prod/cen2010/briefs/c2010br-01.pdf
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