In a recent study Yahoo conducted with Ipsos on Hispanic millennials focused on the third generation, over half of the respondents said it’s about time that advertisers recognized that Hispanics shop, too. Now more than ever, it’s imperative for marketers to understand what it takes to reach this important customer segment and build a proper marketing strategy that’s thoughtful, effective and appeals to their specific interests and preferences. One key understanding: Half of all second-generation Hispanics are bilingual, while only 23 percent of third generation are. This presents a huge opportunity for marketers to implement a multi-pronged digital content strategy, where language can strategically be used across multiple touchpoints. Know your audience: Tap into Hispanics’ cultural connections. Conversely, our study indicated the third generation feels “at home” in both cultures, having grown up primarily English-dominant, and yet still heavily connected to their heritage. Here’s some music to your ears: Hispanics are very receptive to advertising; in fact, over half of millennial Hispanics actually welcome advertising targeted to them as a Hispanic. Marketers need to offer a true reflection of what it means to be Hispanic -- that speaks to both Hispanic traditions and American culture. Unfortunately, too many brands expect to reach this market by pouring additional budget into their total market media buys. Instead, marketers should recognize barriers, and be careful and thoughtful in their strategy for this specific audience.
In a recent study Yahoo conducted with Ipsos on Hispanic millennials focused on the third generation, over half of the respondents said it’s about time that advertisers recognized that Hispanics shop, too. It’s a new year, and another reminder that the Hispanic consumer is exponentially growing in buying power. Now more than ever, it’s imperative for marketers to understand what it takes to reach this important customer segment and build a proper marketing strategy that’s thoughtful, effective and appeals to their specific interests and preferences.
I’ve dedicated my career to understanding the Hispanic market, and I have seen it evolve, ebb and flow over time as the economy has grown. According to the Selig Center for Economic Growth, this market is on track to reach $1.7 trillion by 2020. But, if there’s one key theme I’ve seen resonate as a marketer, it’s the significant role of the Spanish language: its various uses, along with the recognition that cultural identity is bigger than knowing the language. One key understanding: Half of all second-generation Hispanics are bilingual, while only 23 percent of third generation are. There are a few themes that resonate when developing a marketing strategy for Hispanics, with language considerations woven throughout.
Below, I’ve offered up a few key strategies and tactics that marketers can adopt to be successful with this market, framed around their preferences for digital content, how they associate with their culture, and what types of advertising resonates with them most.
Use online video, and distribute it on mobile.
When it comes to entertainment, Hispanics love variety, and even more when it comes in the form of online video. On average, they visit nearly nine different sites, apps and services to view this content over a 30-day period. This presents a huge opportunity for marketers to implement a multi-pronged digital content strategy, where language can strategically be used across multiple touchpoints. Also, content that speaks to their heritage is popular with Hispanics, whether or not they’re fluent in Spanish.
A study Yahoo conducted last summer indicated that Hispanics are quickly replacing traditional television, spending a majority of their time watching online content. Moreover, they’ve become a mobile-first generation: Over the last few years, their time spent on mobile video increased by 53 percent, and is even higher for those who are Spanish-dominant, with 94 percent who watch video at least once a week. It allows them to watch whenever, wherever they are. And that’s huge for marketers.
Know your audience: Tap into Hispanics’ cultural connections.
The majority of Hispanics feel connected to their heritage. Culture is a way of life that’s felt in the way they act, what they eat, listen to, watch…
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