7 Reasons You Should Consider Spanish-Language Media
As direct-to-consumer marketers look at new or different opportunities to add to their marketing mixes, one of the biggest growth areas in the United States is its growing Spanish-speaking population. The U.S. Hispanic space is burgeoning and is a perfect target for performance-based advertisers who seek an active, vocal, and committed consumer base. Here are seven reasons why you should consider expanding your marketing efforts into the U.S. Hispanic space today:
1.Opportunity size: Currently, according to the Latino Donor Collaborative’s U.S. Latino GDP Report, 61 million people in the United States — or nearly 18 percent of the U.S. population — are Hispanic.
2.TV consumption: According to Nielsen data, U.S. Hispanic households watch more TV than the average non-Hispanic audience.
3.Unique audience: A portion of the Hispanic population watches most or all TV shows in Spanish. Put simply, this is a unique audience that you won’t be able to capture with non-Hispanic media.
4.Purchasing power: Hispanic purchasing power has increased dramatically during the past 10 years and is currently estimated at $2.3 trillion, according to the Selig Center for Economic Growth at the University of Georgia’s Terry College of Business in the latest edition of its annual report.
5.Early access to consumers: Second- and third-generation Hispanics started consuming Spanish-language media before beginning to watch English-language content.
6.Growth: U.S. Hispanics are expected to represent 78 percent of U.S. labor force growth between 2016 and 2026, according to the Employment Projections program of the U.S. Bureau of Labor Statistics.
7.Lifetime value: According to research from the Centers for Disease Control, the American Human Development Report, and the U.S. Census Bureau, Hispanics are younger (median age is 28 vs. 43 for non-Hispanics) and live longer (life expectancy of 82 vs. 79 for non-Hispanics), resulting in 18 more years of effective buying power.
Hispanics are the U.S. economy’s No. 1 growth engine: your brand’s best opportunity to win new consumers and to keep them for a longer time. If your company is currently not doing any media in Spanish, we strongly recommend you start as soon as possible. It will quickly become a key component of your marketing mix and a driver of incremental revenue with additional depth to the mix.
Original Article: https://www.resultsmagazine-digital.com/results/april_2020/MobilePagedArticle.action?articleId=1577979#articleId1577979
