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Hispanic101

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Information about Hispanic101

Published on February 9, 2009

Author: kimmears

Source: slideshare.net

Description

Everything you need to know about Marketing to the Hispanic Consumer! West Chamber member Laura Sonderup of Hispanidad Advertising presenting this fantastic program to our S. Jeffco Group in early February.
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+ Hispanic 101 — Marketing to a Vibrant Community Presented by: Laura Sonderup Director, Hispanidad February 2, 2009

+ Hispanic marketing is no longer something that’s “nice” for a company to do. It’s become a business imperative as the population and spending power of U.S. Hispanics continues to grow at an explosive rate.

+ A DEMOGRAPHIC OVERVIEW OF HISPANICS IN THE U.S.

+ WHO IS HISPANIC? “Hispanic” refers to an origin or ethnicity, not race. There is no one monolithic “Hispanic market”.

+ HISPANIC VS. LATINO Latino An individual with roots that go back to any of the Spanish-speaking countries. Hispanic A term that was originated by the Census Bureau in the 1960s. It was used as a way to capture all the people whose backgrounds included any of the Spanish-speaking countries. Chicano An American citizen of Mexican descent who has a strong sense of Mexican-American ethnic identity. This term was regularly used in the 1960s, mostly in the Southwest.

+ HISPANIC VS. LATINO Bottom line — “Latino” and “Hispanic” are terms used in the United States to identify individuals whose ancestry comes from a variety of countries where Spanish is the main language. Both terms are generally acceptable, although in the last 10 years, there is a slight preference for the use of the term quot;Latino.quot; When in doubt, you should ask!

+ CULTURAL DIVERSITY IN THE U.S. The biggest mistake that a company can make is to view the U.S. Hispanic market as homogeneous. Acculturation levels, language preferences and country of origin make for unique sub-groups within the segment.

+ POPULATION GROWTH Hispanic U.S.A. is the 2nd largest Spanish-speaking population in the world, behind Mexico. Latest population estimates by the U.S. Census Bureau at the time of writing, put the U.S. Hispanic population at 42,687,224 or 15 percent of the U.S. population. That equates to one person out of every seven in the U.S. being Hispanic. However, this does not take “undercount” into consideration. The projection for 2050 is that this will increase to one in four people. To put the current Hispanic population into perspective, when looked at in terms of the population of countries in the world, it would rank 29th out of 232 countries. In terms of pure numbers, it ranks higher than Sudan, Spain, Argentina, Kenya, Canada, Australia and Afghanistan.

+ TOP 20 U.S. HISPANIC MARKETS 1.Los Angeles 11. San Diego 2. New York 12. Fresno 3. Chicago 13. Sacramento 4. Miami 14. El Paso 5. Houston 15. Albuquerque 16. Denver 6. Dallas-Ft. Worth 7. San Francisco 17. Washington D.C. 8. San Antonio 18. Philadelphia 9. Phoenix 19. Austin 10. McAllen/Brownsville 20. Las Vegas

+ POPULATION GROWTH — Colorado* Race/Ethnicity Population Percentage White 3,963,550 83.1% Black 181,960 3.8% American 44,177 0.9% Indian/Alaska Native Asian 128,934 2.7% Native 4,300 0.1% Hawaiian/Other Pacific Islander Some other race 318,371 6.7% Two or more races 125,869 2.6% Hispanic 933,573 19.6% * It is estimated that there are roughly 270,000 improperly documented immigrants living in the state, not included In these numbers.

+ POPULATION GROWTH — Local Total Hispanic Percentage Jefferson 526,008 69,689 13.2% County Arvada 103,459 14,416 13.9% Golden* 17,159 1,130 6.6% Lakewood 143,157 28,081 19.6% Littleton 43,741 4,382 10.0% Wheat Ridge 30,160 5,654 18.7% * 2000 Census

+ U.S. HISPANICS AS CONSUMERS

+ HISPANIC PURCHASING POWER Between 1990 and 2007, the buying power of U.S. Hispanics rose by a whopping 315% compared to the buying power of non-Hispanic Whites at 111% over the same time period. The U.S. Hispanic market is already larger than the entire economies of all but eleven countries in the world. The U.S. Hispanic market ranks as the third largest “Latin American economy” behind Brazil and Mexico.

+ WHERE HISPANICS SHOP Wal-Mart is the top choice: • 37% of Hispanic respondents named Wal-Mart their favorite • store. J.C. Penney, Sears and Target all tied for second place with • 4%. Most important factors considered: • Convenience • Low prices • Wide range of merchandise • Employees who speak Spanish • Products relevant to Hispanic consumers • Spanish-language signage •

+ HISPANIC SPENDING Hispanics spend about the same or more than non- Hispanics in these key categories: Food/beverages consumed at home Social events, i.e., quinceañera Rental housing > first-time home buyers Apparel Telephone services TV/radio and other sound equipment Personal care products Public transportation Pick-up trucks Automotive accessories Cleaning supplies

+ HISPANIC BUSINESS AND ENTREPRENEURSHIP One out of every 10 businesses in this country is owned by Hispanics, according to the U.S. Hispanic Chamber of Commerce, making it one of the fastest growing business segments in the United States. Hispanics (15.2%) are more likely than non-Hispanic Whites (10.8%) to be entrepreneurs. The number of Hispanic-owned companies has grown 82% since 1997, making them among the fastest-growing business segments in the nation. Seventy-nine percent of Latino teenagers want to start their own businesses compared with 69% of non-Hispanic white teenagers.

+ TOP INDUSTRIES FOR HISPANIC- OWNED BUSINESSES (Colorado) Construction Healthcare and social assistance Retail trade Professional, scientific and technical services Transportation and warehousing Real estate, rental and leasing Food services Arts, entertainment and recreation

+ SEGMENTING THE HISPANIC MARKET

+ ASSIMILATION VS. ACCULTURATION Assimilation is the process whereby an immigrant group gradually adopts the characteristics of another culture — essentially losing one’s language, customers, traditions and ties to one’s homeland. Acculturation is the process of integration of native and traditional immigrant cultural values with dominant culture values — adopting a new culture without denying one’s heritage.

+ THE ROLE OF LANGUAGE

+ LANGUAGE AND THE HISPANIC CONSUMER Spanish is likely to remain the language of preference among U.S. Hispanics: 71% speak Spanish at home; 56% of Hispanic adults understand advertising best when it is presented in Spanish; and Through research we have found that 80% of all households noted as Hispanic have a Spanish- speaking member(s).

PRIMARY LANGUAGE SPOKEN, BY GENERATION

+ LANGUAGE INDICATORS— Local People who People who Of those who speak only speak a speak another English at language other language, home than English at people who home speak Spanish Jefferson 442,705 52,655 29,113 County Arvada 87,986 9,034 4,557 Lakewood 114,602 20,381 13,265 Littleton 36,567 4,482 2,488

+ LANGUAGE AND LAYOUTS Spanish can contain up to 25% more words than English and take twice the space. Accents and Tildes The tilde is a powerful symbol, much like “¡” and “¿”, it is unique to the Spanish language. The tilde is not optional — “ano” versus “año”

+ TRANSLATION VS. TRANSCREATION Translation An accurate linguistic text transfer from one language into another Transcreation The process of determining the suitability of an original creative message to an ethnic group, and if suitable, transferring the creative concept, not just the words, in an appropriate tone and graphic look Direct translations and usage of general market strategies tend to miss the emotional and culturally relevant elements. Some results will be there, but not with sales volume, strength and recall, that a truly culturally-attuned marketing and advertising effort can attain.

+ SUCCESSFUL EVENT MARKETING

+ EVENT MARKETING Events create excitement, reinforce image, and allow you to hand-deliver your marketing message face-to-face with your target audience. However, many company’s efforts at selling themselves to Hispanics are limited to sponsoring the occasional Cinco de Mayo celebration — these half-hearted efforts will not effectively capture the attention of Hispanic consumers.

HOLIDAYS AND CELEBRATIONS Easter, Christmas and other Christian holidays January 6 — Three Kings Day 5 de mayo Mother’s Day May 10 - Mexico Highest remittance activity holiday of the year 16 de septiembre Día de los Muertos Quinceañeras

+ DEVELOPING EFFECTIVE, CULTURALLY-RELEVANT CREATIVE

+ THE U.S. HISPANIC MARKET IS DIFFERENT... Many companies limit their Hispanic marketing and outreach to one-dimensional efforts like the literal translations of general market campaigns. Marketers cannot simply transfer directly to the U.S. Hispanic market the conceptualizations or marketing strategies that work with the general market. Many factors — historical, contextual, cultural, demographic, financial — place Hispanic consumers in a different category.

+ … AND THE GENERAL MARKET IS DIFFERENT BECAUSE OF IT Several years ago, salsa surpassed catsup as the number one condiment in the U.S. Now we have chipotle catsup and peach salsa! Tortillas now outsell bread in the U.S. According to Hallmark Cards, piñatas are now the second most popular party decoration in the U.S., after balloons. The margarita is the #1 cocktail served in the U.S.

+ NEXT STEPS

+ TEN MISTAKES TO AVOID Don’t launch a product or campaign in the Hispanic market without doing 1. research. Don’t enter the Hispanic market without making a long-term commitment. 2. Don’t forget to get your message out — loud and clear! 3. Don’t dilute your brand — it’s all you’ve got. 4. Don’t forget to educate your senior management. 5. Don’t assume that Hispanic projects can be accomplished for less. 6. Don’t treat the Hispanic market as if it were a “quota” to be reached. 7. Don’t rely on your Hispanic-surname employees to do your translations. 8. Don’t make assumptions about the Hispanic market — consult a Hispanic 9. marketing professional. Don’t assume you know what “good” Hispanic marketing is — unless you are the 10. targeted segment!

+ ¿Preguntas?

+ Contact Information Laura Sonderup Director, Hispanidad 303.239.5235 Lsonderup@heinrich.com

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