Hispanic spending in the trillions by 2012. What's your share?

The data:

52% of the U.S. Hispanic populations are online. That’s 23 million Hispanics.

By 2012, more than 29 million or 58.6% will be online, increasing the penetration.

Don't assume:

Marketers, don’t assume that mass-market, English-language campaigns are reaching this audience effectively, just because 65% of Hispanics are bilingual.

As this market increases in size, it also becomes more fragmented as Latin Americans do not always share the same culture.

How do I reach Hispanics effectively?

Creating relevant messages that touch this market is a challenge as Marketers will have to speak to those traditions and use appropriate references. Multiple execution strategies will have to be created to accomplish reach.

Today, over 60% of advertisers media budgets are spent on on TV and only less than 5% is spent in online.

Although 65% of Hispanics are bilingual, Marketers shouldn’t assume they are effectively reaching their target. Education, inccome and acculturation levels affect the way consumers use media and their product choices.

Point being, Hispanics make up a diverse community that is becoming acculturated, but not completely assimilated. Retaining their pride in culture and language preference.

Understand:

I know I sound like a broken record but targeting this segment comes down to knowing what they are doing online (what is the behavior?). This of course applies to anyone who uses any type of media.

We need to understand how the various generations use media and for what reasons.

The strategy:

Begin with a multi-channel campaign to reach a wide audience, but the more digital media used, the more effectively the message can be targeted and tracked for insight and optimization. This mainly applys to Hispanics under 35 since they are the heavy internet users.

Don't forget mobile:

Also – let us not forget mobile -Hispanics are early adopters of mobile technology: 31 million have a mobile phone. By the age of 15, penetration of wireless services is 64%, by 17, it rises to 78%. Hispanics have the highest proportion of cord-cutters among all segments. Hispanics spend 42% more on mobile devices and 35% more on data services than the average user. Mobile Source, --Engage.

Stewart Severino
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