Hispanic Consumer Behavior—A Marketer’s Guide
Understanding consumer behavior is crucial to any marketer’s success, and sometimes you really need to get into the nitty-gritty, to understand their psyche truly. For those targeting specific markets such as the Hispanic demographic, studying your target audience is a game-changer.
It’s a form of exercising intelligence, empathy and focusing on representation because targeted marketing doesn’t always need to be exclusionary, problematic, or offensive. Hispanic consumers have a buying power of 1.7 trillion USD, as of 2020. This is a massive chunk of the market, many of whom will have concerns about representation and product marketing.
Here are essential pointers to consider when marketing to Hispanic consumers:
Know the difference between Hispanic and Latino
Simply put, Hispanic individuals are those of Spanish origin or those who speak the language, while the Latino community is comprised of people from Latin American countries. It’s more than a difference of semantics and can be somewhat offensive to use terms interchangeably. If you’re specifically speaking Hispanic consumers, language and culture might vary, given that people across multiple ethnicities can identify as Hispanic.
Long story short: Hispanic is for language, Latino for location.
Be wary of regional differences
Depending on the region your business is operating in, language and terms will vary. Since it’s possible to be Hispanic and Latino, or one of the other, it’s vital that you don’t conflate the two. For instance, consumers in Texas, in general, prefer being referred to as Hispanic, whereas in California, they prefer Latino. In New York, which is where we’re based, consumers don’t really have much of a preference.
Authenticity is crucial
When targeting Hispanic consumers, know the importance of culture, authenticity, and representation. Though many of these groups are bi-lingual or multi-lingual, references to their language and origin can strengthen the sense of representation they feel. From preferring Hispanic television personalities to authentic representations of their language and culture, this should be one of the most significant areas of focus for brands.
Have a strong commitment to social causes
34% of Hispanic consumers prefer brands that are socially responsible, conscious, and contribute toward causes that matter. This could be a charity you pair up with or a campaign you launch in light of a social issue—but whatever it is that you do, make sure it’s real. Build your marketing strategy around what matters, and you’ll draw in your intended audience.
Their youth is incredibly active online
Hispanic youth—like many other demographics—are incredibly active online, with strong media presence. In fact, from all ethnic groups, Hispanic adults are the most active on social media, at 70% of all users. This means marketers have a great tool at their disposal, making use of the above to target their audiences.
If you’re venturing into the world of Hispanic advertising, you can get in touch with us. We specialize in multicultural marketing in New York and can provide you with a range of insights and help devise marketing strategies for your brand.