Leading brands and forward-thinking marketers know that the U.S. Hispanic market is an untapped opportunity for advertisers to retain a growing population of consumers. According to Nielsen, Hispanics are the fastest growing ethnic segment, expected to grow 167% by 2050, compared to only 42% for the total population. There is no doubt that they are the largest minority segment in the U.S., and they are increasingly becoming a vital group of spenders.
By 2020, U.S. Latino purchasing power will top $1.7 trillion, according to the Selig Center for Economic Growth. With a significant amount of buying power and a unique set of media consumption habits, clients are starting to see what this segment means to their company’s bottom line. U.S. Hispanics technology and media use do not mirror the general market; there are distinct patterns marketers need to understand that stem from the difference in language and other cultural dynamics. They are a highly connected group of technology users, spending on average 1.5x more time and money on their mobile devices and on consuming digital media.
At Converze Media, we understand these differences. We understand that our experience brings forth the most appropriate strategy to reach this growing population of consumers for our clients. It is more than just translating ads into Spanish, much more! Hispanics are culturally different; they value different aspects of life. Converze Media strategists continually research and stay well-informed about their consumption habits so that clients stay culturally relevant and campaigns succeed.
“Laughter is the language of the soul."
The team at Converze Media takes simple facts and trends and turns them into actionable insights for our clients. When we know that over 60% of the U.S. Hispanic market is under the age of 35, we also know that within the next 10 years, this group will be making a significant impact on the housing market and will be needing a mortgage. What that means is that we advise our clients on more than just media mix, placement, creative direction and pricing, but also on growth opportunities and market trends that will continuously increase their ROAS.
Converze clients benefit from being one-step ahead of trends and their competition. By targeting the Hispanic market with a dedicated campaign focused on cultural dialogue and understanding, clients benefit from retaining a long-term and loyal consumer base.
At Converze Media, we’ve invested in a new layer of intelligence that embraces the strategic implications of cultural fluency. Content, as always, plays a key role in connecting with consumers. Brands that know how to use culturally relevant passion points to communicate with Hispanic consumers will build trust with a growing and highly social demographic.
At Converze Media, we also take the time to listen. By using analytical tools and insights, our experts create sub segments to further drill down Hispanic consumers. Social listening tools pinpoint top conversation topics and influencers. In turn, this information creates opportunities for our clients to organically engage with these digitally savvy consumers. Hispanics are avid mobile users and digital video streamers, taking a mobile-first approach to reaching this audience allows our digital experts to focus on using data to optimize campaigns and generate client ROAS. It’s not just about using language to communicate, it’s about connecting with a culture.