A Market That Can’t Be Ignored

(January 16, 2014) – There is a target market that a lot of businesses have to stop ignoring, because their buying power has increased immensely in the last couple of years.

At 50.5 million and growing, Hispanics will represent $1.5 trillion in purchasing power by the year 2015 and 30 percent of the United States population by the year 2050.

Is this surprising?

Well, here is another statistic that might shock you.

Between the years 2000 and 2010, the Hispanic population grew by 43 percent, or four times the nation’s 9.7 percent growth rate.

In real numbers, this was an increase of 15.2 million people of Hispanic descent and accounted for more than half of the total U.S. population increase of 27.3 million.

Now ask yourself: have you tapped into the Hispanic market? If not, there is no better time than the present to start.

When it comes to marketing to the Hispanic community, business owners and marketers need to understand how to best market their products or services to them.

One of the biggest factors that you should always consider is that culture is important to the Hispanic community. In fact, Forbes.com has stated that many brands have tried to market to Hispanics yet have failed miserably, losing millions of dollars along the way.

These unsuccessful attempts have proven that Hispanic consumers are looking for brands to create a greater cultural connection. This means marketers need to listen to Hispanics’ needs more carefully.

Now that you have read all this, you are probably wondering how to start a marketing campaign that will engage this powerhouse market. Well, we have an answer that will help you begin your journey, and that is a dual-language video marketing campaign.