Understanding why it’s Important to Target Hispanic Women and Why You May be Missing the Mark
The Hispanic population of the United States as of July 2011 totaled over 52 million people. According to the U.S. Census, Hispanics will constitute 30% of the nation’s population by the year 2050. So what does all this mean for advertisers? With Hispanic American’s purchasing power now weighing in at over $1.2 trillion, it means that advertisers have to do more than release a “Spanish language version” of content. To effectively connect with Hispanic consumers, agencies have to keep content and all brand-consumer interactions culturally relevant. When it comes to buying power, Hispanic women, also called Latinas, are in the driver’s seat.
According to a report published by Nielsen, 86% of Latina women make purchasing decisions in the household. Food, beverages, clothes, and home electronics are the top four purchases made by Latinas. Latinas are also outpacing their Latino counterparts, and even general market consumers, in education. Seventy percent of Latina high school graduates are enrolling in college, which for the first time, exceeds non-Hispanic females in college and is 11% ahead of Hispanic males.
Latinas also have their own definition of “having it all.” In a study conducted by Alma, a Hispanic advertising agency, strategic insights revealed that Hispanic women identify peace of mind, an education and a home where they can enjoy their rich family lives as the “things” to which they aspire. To connect with Hispanic audiences more deeply, agencies must look beyond general market reference points of what it means to be successful. The concept of having it all in terms of having the corner office, the biggest house on the block, or the most expensive car in the driveway was not their idea of having it all. They reported that the idea of having it all was not an idea that resonated with them, because it was not an idea that was actively discussed. Having a family and retaining Hispanic culture and values already means that they have it all. It is not something that one has to pursue. Even more telling, the women reported that they could not see themselves in magazines, even when targeted toward specific groups such as those for moms, because “while everyone loves their family, Hispanic women put family at the center of their lives.” It’s time to start creating content specifically for Hispanic women as a one size fits all approach, even when segmented, simply won’t work.
We challenge you to use this blog as a starting point to learn more about the cultural characteristics of Hispanic women as a means to gain their brand loyalty to your business.