Business Beat
¿Se Habla Español? ¡Espero que Sí!


By Rebecca Gonzalez
Semaphore partner and Hispanic marketing expert

Even demographers have been taken by surprise. Hispanics have become the largest minority in the United States contradicting even the most expert predictions. What was slated to occur in the year 2005 or later has progressed at a much more rapid pace, creating a rush of excitement, confusion and deliberation.

Stimulated by recent figures documenting the purchasing power of Hispanics in the U.S. – a whopping $630 billion – companies are asking themselves the obvious: How do we capitalize on this emerging market in the most cost-effective and intelligent manner? The answer is three-fold.

First, companies need to understand who their audience is. Recognizing that the Hispanic population can be sliced in multiple layers – from country of origin to socioeconomic and educational – a company can then begin to determine what advertising and marketing strategies correspond to the specific market they are trying to reach.

Great. How does one do this? Seek a reputable Hispanic marketing expert in your community. Understanding the local composition is important if your company is establishing itself locally. If your focus is broader and you are attempting to reach a regional or national audience, then some of the most reputable sources are institutions such as the Selig Center for Economic Development which tracks the Hispanic population and provides profiles in geographic areas. Other sources cover the gamut from print to online sites. A sampling includes the following: the U.S. Hispanic Chamber of Commerce, Hispanic Business (an online version can be found at www.hispanicbusiness.com) and Hispanic Trends (a trade magazine).

Second, one has to understand the media patterns of the specific Hispanic market. Some vital information to know in order to allocate your marketing budget appropriately includes:

&Mac183; Hispanics are large consumers of media – roughly twice that of non-Hispanics (74 hours/week vs. 43 hours/week)
&Mac183; Television accounts for the majority: 36 hours/week, followed by radio at 26 hours/week, and newspapers and magazines account for the remainder.

Logic indicates that the use of television and radio will yield a greater return on your investment.

Be prepared to encounter one fine detail. Many communities do not yet have local Spanish stations or radio stations. The result is that you might have to entertain the notion of using satellite TV and/or radio to capture your local Hispanic audiences. This might not present a problem if you have a regional or national thrust.

The Wal-Mart Way
However, if you have a local focus, your next step is to determine whether there is a Spanish newspaper. If there is no local Spanish paper, then your next best choice is grassroots marketing.

Grassroots marketing in this context requires identifying the points of contact with your Hispanic population. Simply stated this means determining where Hispanics engage with the world. Where do they shop, eat, work and play? That is where you will reach them. As an example, a fertile source for grassroots marketing is your local Wal-Mart. Hispanics from all socioeconomic levels are known to frequent Wal-Mart stores. Find the one nearest you and make arrangements to post information or sponsor a Saturday event in the parking lot. Of course, you will have to gain the approval of the store manager but the mutual benefit that results should dispel any concerns.

Third, consider your message. The very title of this article begs the question – “Do You Speak Spanish? I hope you do!” Recent figures claim that an astonishing 89 percent of the Hispanic population speaks Spanish at home. This does not mean they do not speak English. It does mean that there is a comfort level with the Spanish language and a savvy marketer would respond accordingly. The most successful campaigns have resolved this issue by providing their advertising both in Spanish and English, particularly as it relates to print media.

By incorporating these three aspects to your marketing approach, you can help grow your Hispanic market!