Strategic Hispanic & Multicultural Marketing
Multicultural audiences continue to grow in the US bringing with them a powerful buying power that can impact your business. These multicultural decision makers have become more product and brand savvy, but are lagging behind in receiving relevant “direct” communication. One of the reasons for this is that most companies themselves are underserved when it comes to direct marketing. Often, they utilize multicultural agencies for their advertising programs, but who can they go to for “direct marketing” initiatives that provide measurable results and maximize ROI? At SMS we provide you with one source for all your direct marketing needs, including targeted multicultural with an emphasis on Hispanic through either B2B or B2C strategies. We combine our extensive and ROI driven direct experience in acquisition, retention, product launch and influencer programs, with the understanding of unique consumer markets from both a marketing and cultural standpoint.
Beyond translations, adaptations or transcreations, SMS knows that today, these consumers must be addressed strategically with a full understanding of their needs, wants and behavioral preferences in order to motivate them to “act now”.
Why the emphasis on Hispanic? According to the 2010 US Census, Hispanics are the largest and fastest growing minority group in the country. Here are some facts and projections you might find interesting:
- There are 50.5 million Hispanics in the US representing 16% of the total population, that’s 1 out of every 6 Americans!
- Between 2000 and 2010, the Hispanic population grew by 43 percent, which was four times the growth of the total population at 10 percent, and is expected to continue to grow at a rapid pace.
- The buying power of Hispanics exceeded $1 trillion in 2010, and the population includes a significant number of high-income households.
- Over the next five years, the nation’s buying power is projected to grow 27.5% to $14.7 trillion, while that of the Hispanic population is forecast to grow 48.1% to $1.6 trillion.
- The most current Census data shows Hispanic owned businesses in the US grew from 1,573,464 in 2002 to 2,260,309 in 2007. Number of receipts grew from $221.9 (billion) to $345.2 from 2002 to 2007. SMS is proud to be included in these figures as a 100% Hispanic owned business.
Ready to talk multicultural? ¡Llama a SMS!