This article will outline 5 Latino market insights to improve your marketing efforts in the Latino community.
Marketing leaders agree that there are big changes in marketing and fundraising almost daily. The ethnic diversity in the United States increases every day and in terms of numbers, there is one ethnicity taking the lead – Latinos.
Communicate. Don’t Translate!
Engaging the Latino market takes more than doing literal translations of your messaging and campaigns. It involves an understanding of the Latino culture, motivations, needs, and behaviors to ensure that your purpose is resonating with your intended audience.
Ricardo Aspiazu, Director of Brand Marketing at Verizon, put it this way:
“It is less about language and more about culture.”
In order to reach Latinos, you must now engage the culture, not just language.
We have seen brands using literal translations in the past but the reality is that these messages sound forced and do not mean much to your audience. Instead of making an impact, you are more likely losing money by advertising with messages that do not make sense to the Latino market.
Digital Marketing Is a MUST.
- Latino digital spending grew by 14.3% in 2018.
- Asians and Latinos lead in daily smartphone usage 87% and 85% respectively in 2018.
- 61% and 62% of Caucasians and Latinos used social media daily respectively.
“…digital has special relevance for Latinos at different levels of acculturation. With the right talent or partners, you could release Spanish language content on any of those platforms. With digital, you have access to all kinds of Latinos, including many bilingual, bicultural millennials. Latinos with all kinds of desires and passions are just waiting for you to speak to them.”
If you want to reach out to your Latino community or donors, you have to meet them where they are, online.
Latinos Are Changing the Face of American Society.
According to the latest census data, Latinos will make up over half of the U.S. population growth between 2016 and 2020.
- Latino buying power in Arizona will surpass $57 Billion by 2022.
- From 2017-2018, Latinos accounted for more than half of the U.S population increase.
Also, Latinos have a longer life expectancy and a younger median age. Therefore, as this demographic moves into its prime years of wage-earning, it is reshaping the U.S. market.
The nation’s Latino population is projected to double by 2050.
By only looking at the demographic data, Vanessa Strain, VP of Multicultural Growth and Strategy at Nielsen, urges “nonprofits to invest now in multicultural marketing and fundraising while there is time to plan.”
The Latino community is a growing population that already values community and social causes. No matter what experience your nonprofit may have had with the Latino community or fundraising, this market cares about the community and social causes.
Don’t miss the massive opportunity to get ahead of the curve!
- 57% of U.S. Latinos agree they are more likely to purchase from brands that support a cause they care about.
- 43% expect the brands they buy to support social causes.
- 58% agree they are willing to pay more for a product that is environmentally safe.
Collaboration Is Critical for Latino Marketing Success.
Marketing is a very specialized field, and it’s a lot cheaper in the long term to hire an agency than to hire a full-time team in-house.
Multicultural marketing veteran Aldo Quevedo warns against leaving the Latino marketing up to the general marketing professionals.
“If your nonprofit recognizes the need for Latino marketing, that objective will probably butt heads at some point with general market goals. Plenty of organizations end up working with both a Latino marketing agency and a general-market agency. This may seem complicated, but successful collaboration is a game-changer.”
– Aldo Quevedo, Principal and Creative Director, Richards/Lerma
Alberto Lorente, Sprint’s multicultural marketing director, attributes much of Sprint’s success in Latino marketing to their Latino marketing agency partners.
In 2017, about 34 percent of Sprint’s new customers were Latinos, and at the time, they only composed 18 percent of the U.S. population!
Commitment is Key.
The success of marketing leaders is linked to their commitment to reaching out to the growing Latino market.
I’m confident that with the same commitment, your nonprofit can experience the same success in optimizing your fundraising by connecting with the heart of Latinos.
Latinos Are Generous.
There is a myth claiming that Latinos either don’t have the means to give or that philanthropy isn’t as valued in their culture.
Multicultural marketing leader Jose Villa says differently.
“Latinos are a huge opportunity for organizations that depend on donors.”
– Jose Villa
The main reason for this myth is because the average Latino mostly gives to their church.
However, today Latinos are growing accustomed to the American society where “the church is a less dominant cultural force. And the alternatives for giving are endless…”
For example in 2019, Telemundo and Univision raised $20 million in 30 hours for victims of Hurricane Maria and the Mexico City earthquake, out of a primarily Spanish-speaking audience!
One of my favorite examples is how St. Jude Children’s Hospital set a record raising $4.6 million in a campaign with Spanish-language channel Univision.
This is a big opportunity for nonprofits like yours to become the charity they give to.
If you want to learn more ways how your organization can develop relationships with Latino donors, contact us today, and let’s talk over a cafesito!
So is it Hispanic, Latino or Latinx?
Hispanic, Latino, Latinx. We get it, these terms can be confusing so here’s a little help: