According to Jorge Aguilar and Andrew Pierce, the Hispanic population in the United States will surpass that of their white non-Hispanic compatriots by 2030. And, argue the pair in an article at MarketingProfs, appealing to this rapidly growing segment is not as simple as hiring a Spanish translator.

"[M]arketers need to incorporate into their perspectives how purchasing decisions are made by Hispanics," they say. The opinions of family and friends, for instance, weigh heavily in the choices Hispanics make. For this reason, a realtor profiled on HGTV arranged for prospective home buyers to spend an evening entertaining loved ones in a house they were considering. "The family decided to purchase the house after getting positive feedback from the guests," say Aguilar and Pierce.

They also suggest wooing first-generation customers with brand names they recognize. Colgate-Palmolive imports Suavitel, a fabric softener popular in Latin America; and Blistex has created a lip balm flavored like the ubiquitous soda Jarritos. Once you've penetrated the market, meanwhile, they recommend targeting your Hispanic audience with highly tailored messaging. "This likely requires new positioning to differentiate the brand from competitors while earning credibility and relevance," they note.

The Po!nt: One-size-fits-all solutions won't work for this important segment, claim Aguilar and Pierce. "As the Hispanic population continues to grow larger and more affluent," they say, "winning marketers will be those who understand brand loyalty cannot be achieved by translating advertisements into Spanish."

Source: MarketingProfs. Click here for the complete article.

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