Want to expand your business and extend your market to include a rapidly growing segment of the U.S. population? If your business is not tailoring marketing efforts to meet the needs of Hispanic consumers, you are already leaving $100 million on the table, and McKinsey & Company anticipates Hispanic buying power will grow six-fold to $660 billion in this decade.
Yet, despite making up 20.0% of the total U.S. population, the portion of overall advertising spend directed to Hispanic consumers is disproportionately small. So how do you reach this impactful market?
Direct Mail Gets Read by Hispanic Consumers
Did you know that 62% of Hispanics are likely to read direct mail pieces, and 69% of them consider direct mail harder to ignore than TV ads? When your direct mail piece is opened and read, and the recipient spends time with the piece and considers its offer, there is a greater chance that a purchase will follow. This provides a significant opportunity for businesses to act now and invest in the right customized strategies to reach this underserved market.
At IWCO, we know that the U.S. Hispanic market is far from monolithic. Therefore, we use predictive modeling, utilizing thousands of data attributes like socioeconomic background, education level, country of origin, history, political affiliations, and acculturation models to provide a thorough understanding of the audiences you are trying to reach.
Translation Alone is Never Enough
As I always stress, a straight English-to-Spanish translation is never enough. Long gone are the days of direct translations and general market strategies that miss the emotional and culturally relevant elements of this diverse group. Without taking these elements into account when building your marketing campaign, you are likely to fall short of the engagement needed to build brand loyalty and life-long customers. Instead, we focus on transcreation using culturally relevant insights to drive meaningful and culturally relevant messaging.
Testing should be part of your Hispanic market campaign planning. You’ll want to understand how small differences in creative or offers effects response, and which combination of channels has the most impact on your audience. Make a marketing plan that allows you to test and learn, then use those learnings to improve results with each effort.
Putting It All Together
Thanks to IWCO’s BETTERImpact System, we can help companies reach the Hispanic market and ensure messaging is aligned with consumer values by combining strategy, accurate data, culturally authentic creative, and analysis.
We understand that all of this is easier said than done. Creating culturally sensitive and appropriate marketing campaigns that drive results is both art and science. Let us show you how to harness both to improve the outcome of your next campaign. Reach out to see how IWCO can Make Better HappenSM for your business.
