Major marketers in the United States have recognized the importance of the Hispanic Market since the early 1990's. Back then, only Fortune 500 companies with multi-million dollar marketing budgets started targeting this promising vertical segment through Hispanic TV, radio, and print advertising. Although still in its infancy, Hispanic marketing proved to be a crucial facet of many campaigns as marketers realized that Hispanics consume a disproportionate amount of certain products and services in relation to their discretionary income. This is especially true for industries that provide a connection to friends and family back home- such as telecommunications, wire-transfer services, and travel related services.
Back then I was part of a newly developed Hispanic Marketing Team at AT&T. AT&T had realized that targeting this emerging vertical would mean access to customers who spend almost twice as much as the general market on traditional long distance. Although AT&T had been somewhat successful in reaching this market through traditional media, it had not made any significant inroads in reaching Hispanics through direct marketing.
My challenge at AT&T was to develop new and innovative strategies to reach Hispanics in order to curb the attrition that was occurring as a result of major competitors' aggressive efforts in this market. One of the most valuable lessons that I learned was that in order to acquire and retain these valuable customers, you need to present them with culturally relevant information in their own language. It was not enough to translate materials that were designed with the needs and interests of the general market in mind. This revelation proved to be a very profitable one! Once we started developing culturally relevant copy in Spanish targeted at these specific segments, we managed to stem the attrition from the competitors and our direct mail response rates went through the roof. Hispanics were not used to receiving mail in Spanish that had them specifically in mind. It was not unusual to have response rates of 5% to 10% when traditional general market response rates were only 1% to 2%.
Although much has changed in this market over the last ten years- with the advent of the internet as a new medium to reach this segment- many things remain the same. Hispanics still want and need Hispanic-relevant content and copy in order to make informed purchase decisions. The internet hosts a wealth of opportunities to access cultural markets in the same way that the direct marketing of the early nineties did. But a strong internet marketing presence poses one major advantage over the old strategies: it provides your company with unlimited access to the potential customers you're looking for, as well as the ones who are looking for you.
Many companies are NOT yet jumping on the band-wagon with Hispanic relevant internet content because they perceive the Hispanic Market as being unreachable through this medium or not technologically savvy. This couldn't be farther from the truth and recent studies have proven it. In March 2004, a study by AOL revealed that 14 million plus Hispanics in the United States are using the internet. Moreover, about 20% of that number had just connected to the internet in the six months prior to the study! When the Study surveyed Hispanics who were not yet online they found that over 50% of them expected to have an online connection within the next couple of years. These numbers are staggering. The Hispanic Market is surfing the web in increasing numbers, and only companies that cater to their specific internet habits will reap the benefits of this lucrative segment.
So how can YOUR business capitalize on this phenomenon?
Above all, you have to know your market. This means understanding who your potential customers are and how they use the internet. The Hispanic market spans over a huge demographic. In order to attract traffic and custom-tailor your content, you have to be familiar with your target market's countries of origin, language preference, income level, and a number of other varying factors that may pertain specifically to your product or service. If you aren't an expert in this field, make sure that you perform very thorough research, or hire the services of a professional web marketing firm that specializes in the Hispanic market.
Don't waste your efforts or risk your reputation- you will only attract customers from a particular segment if your message rings true to them. Go for the "low hanging fruit." The Hispanic market has reached critical mass and is there for the taking for those companies that are smart enough to realize it. If you do it right - you will reap the benefits.
Rick Caraballo is the author of this article and the CEO of Avance Web Marketing- http://www.avancewebmarketing.com, a South Florida Web Marketing Firm. An expert in Hispanic Marketing and E-Business Services, Rick has over 20 years of marketing and business experience, including VP of Marketing and Business Development for an internet company, as well as executive marketing positions at companies such as AT&T, Verizon Wireless, and First Data. Rick has an MBA in Marketing from Baruch College in NY.
As we look at building our online businesses, many of... Read More
You can't row a boat without an oar or build... Read More
When I mention, "flavor", I mean the appeal of the... Read More
Here's an astonishing fact guaranteed to excite you...Many successful internet... Read More
If you're new to Internet Business, this might be hard... Read More
Internet Marketing has been a buzzword for over a decade... Read More
The backbone of business success is communication.And networking is one... Read More
Are you having a tough time selling that ebook or... Read More
One of the best projects to undertake as an online... Read More
Building an Internet business based on a specific niche is... Read More
Did that headline grab your attention?I have experimented with many... Read More
There are over 200 million people worldwide connected to the... Read More
So, you've created a Website to highlight your realty services... Read More
Although the vast majority of website traffic is the direct... Read More
Do you want to unleash a tsunami of sales at... Read More
The most optimistic success rate I have run across for... Read More
Are you interested in making your online sales soar like... Read More
Niche Marketing, in simple terms is all about targeting hot... Read More
Are you considering working from home. I have been self-teaching... Read More
It goes without saying that all of us would like... Read More
Have this phrase broken through your life at least once?... Read More
Everyone is talking about blogs these days as the magic... Read More
Have you noticed the explosion of Websites related to love,... Read More
Article Marketing Creates a Steady Flow of Fresh ContentArticle writers,... Read More
Freebies. Freebies. Everyone loves getting things for free.You can increase... Read More
What is the Best Kept Secret on the Internet?This is... Read More
Real estate has made many people large amounts of money... Read More
Several months ago I went on the cruise from hell.... Read More
Google has released another valuable. The tool, "Sitemaps", allows you... Read More
More and more people are realizing that the Internet offers... Read More
While reviewing site stats, I noticed 18 foreign countries as... Read More
If you've a business, you must always keep an eye... Read More
I just came across this web site called PayDotCom.comAfter reviewing... Read More
Although generating online traffic is an important goal of any... Read More
When it comes to making money online, there are a... Read More
Writing and Submitting Articles is More about Psychology than Writing... Read More
Oh no... are people leaving your site without buying?Get used... Read More
So you've created a digital product ready for sale on... Read More
Many great website concepts are developed, launched... and then flop!... Read More
Niche marketing has always been a key any success in... Read More
Be a Winner! Answer the Challenge! An e-course is a... Read More
How many times have you... heard that running solo ads... Read More
"Viral Marketing" is giving something away for free and allowing... Read More
Recent research predicts that the online ad market will decline... Read More
Internet Marketing has been a buzzword for over a decade... Read More
Secret Number One: The Key Is A Niche MarketIdentifying a... Read More
So you finally created the website that your business or... Read More
Many small online business owners have yet to understand the... Read More
Not long ago, a vacation that entailed travelling across much... Read More
With all the people offering products and services online, what... Read More
For several years now, enterprising individuals like you have been... Read More
This wasn't meant to sound like one of those "rags... Read More
Critical Mass Website Promotion is the elite goal rarely attained... Read More
Internet business opportunities come in many flavors and varieties. Most... Read More
You can earn a large monthly passive income with a... Read More
RSS marketing is a tool used by many on the... Read More
Way No. 1 - Clog Up Their Internet ConnectionImagine it.... Read More
Drop shipping one of the greatest business innovations since products.... Read More
Like many other useful toolbars out there so is the... Read More
Creating a lucrative online business is not an easy task.... Read More
I have become involved with many network marketing companies the... Read More
There is a misconception that you can come online set... Read More
The current climate on the internet is very unfavourable to... Read More
Often there can seem to be very little difference between... Read More
You're motivated to run your own business, aren't you?If you're... Read More
The following 3 secrets revolutionized my life. For years I... Read More
Internet Marketing |