Harnessing Hispanic Audiences to Achieve Digital Growth

From where, what and how consumers are buying, COVIDs lasting impact on business reemergence has been felt across the board. To get through the fog, marketers should rely on data more than ever before. To build data-driven strategies and to determine where those strategies need to be focused, companies come to Claritas, the industry leader in data-driven marketing intelligence.

Due to their sheer size and growth as a top consumer segment, Claritas has seen a significant increase in the number of clients looking to build smarter, more strategic marketing strategies for reaching the Hispanic consumer. Claritas released its 2020 Hispanic Market Report this past September; a report that unveils some key growth and behavioral insights on the U.S. Hispanic consumer market.

In this report, you’ll find Hispanics currently makeup 19% of the U.S. population and are one of the fastest-growing population segments with 62% projected growth through 2025. Not only are they fast-growing, but the Hispanic aggregate household spending for 2020 is projected to be $978 billion. This makes Hispanics the highest-spending minority group in the U.S.

To help you get a sense of the Hispanic market, continue below to get 4 Key Insights for marketing effectively to Hispanic Americans:

1) Make sure you have a dedicated strategy for reaching younger consumers.
The Hispanic segment is younger than all other multicultural segments. They have a higher likelihood to be digitally savvy online shoppers who fully embrace the digital ecosystem. Marketers should make sure they’re building specific strategies for reaching this audience and not rely on a one-size-fits-all approach, it must be a multi-channel approach.

2) Incentivize customer feedback, reviews and social engagement places where reviews can be made
The Hispanic segment is younger than all other multicultural segments. They have a higher likelihood to be digitally savvy online shoppers who fully embrace the digital ecosystem. Marketers should make sure they’re building specific strategies for reaching this audience and not rely on a one-size-fits-all approach, it must be a multi-channel approach.

3) Make sure your social media profiles are up-to-date and messaging is engaging
When looking at the top social media networks, we see that Hispanics index highest for Facebook, Instagram and Snapchat. Hispanics turn to these sites not only to be entertained, but to be informed and educated. For example, when looking at reasons why Hispanics visit social media, we see that they are 25% more likely to visit a social media site to review products or services. When considering these facts, businesses may want to consider updating their products and services section on their social media profiles to best connect, inform and educate Hispanics about their offerings and maximize their potential to steer traffic to their website.

4) Create exclusive offers, coupons, and discounts online
When looking at internet sites visited/apps used in the past 30 days, we see that Hispanics indexed highest for Craigslist, eBay, Coupons.com, Groupon and RetailMeNot. This suggests that Hispanic consumers prefer to seek out exclusive offers, coupons, and discounts online via bargain sites. Hispanics also tend to visit social media sites to find additional exclusive offers, coupons, and discounts. When considering these facts, it would be wise to launch marketing campaigns that incorporate exclusive offers within their messaging.

Let the Hispanic consumer be a key factor in your 2021 growth plan.
If you enjoyed these last 4 insights, now you can get even more on the Hispanic market with a deeper dive into our full Hispanic Market Report. For more on the U.S. Hispanic consumer market, such as who they are, their lifestyles, behaviors and preferences, download the 2020 Hispanic Market Report today!

Also, listen to our latest podcast episode on the Hispanic Market @ The Marketing Insider: A Claritas Podast