At this point, there is no denying the economic potential of the Hispanic market and the profitability that they may bring to company products. I believe every company has that into account but have always wondered how to reach them effectively. The total market approach of just translating material to and from Spanish or just employ the belief that will come and buy your product is a fallacy and they know that.
For this reason, some companies are employing Hispanic outreach and as part of their research and promotion.
Hispanics overall tend to like familiarity and value human relationships and professional relationships particularly when it comes to financial products. Particularly in this field, they want to be comfortable in whom they are doing business with so trust and personal customer service is top priority for them. Further, they are extremely brand loyal to those that they feel connected and valued; this bond extends to their shopping habits as well.
Having all this into account, brands are reaching out to capture the young, very social group with good disposable income. Companies like Johnnie Walker and even Western Union are organizing concerts and inviting Hispanic celebrities to connect and expand their reach.
Also in the financial sector, companies like Merrill Lynch are promoting art fairs and open bar events to cater to the Latin American clients and prospects. They cater to the wealthy Latinos that ae seeking new investment opportunities outside their countries and these art fairs is a way of catering to their culture to expand personal and professional relationships, which is what, Latinos love.
Back in In 2009 Kleenex campaign in” El mes de la Hispanidad”. (Hispanic Heritage Month) I held a contest of local artists that represented their Hispanic heritage. The contest was called “Express your Hispanic Pride with Kleenex” or Celera tu Hipanidad con Kleenex.
This of course generated massive sales, interest, voting participation and promotion to a brand just by the contest itself.
Lastly, the NBA through Latina “back in 2006 but in the 2009 season they hired Hispanic agencies read in an effort to promote and appeal to Hispanic fans ,to translate the teams names in Spanish or more how would a Latino fan or refer to his team in their spoken language. The result: The NBA teams jerseys read El Heat, Los Lakers, or Los Suns.
The NBA is broadcast all over the world and has a huge following abroad not just in the US therefore reaching a larger audience.
