Make Your Brand Relatable
Hispanics currently account for 18% of the total U.S. population and will yield over $1.7 trillion in buying power this year alone. What does this mean for companies? Honestly, nothing. These are national statistics that give you a broader view of how the consumer landscape is changing. When we drill these stats down into bite-size pieces relevant to a business, corporation, or community, we can begin to identify how valuable a multicultural strategy can be. There are many highly sought after groups – the Hispanic market being one –but effectively targeting the multicultural consumer is about making your message relatable and effectively recognizing meaningful cultural nuances.
Stereotypes derive from assumptions, not facts. These assumptions lead to the use of cliches that do more harm to a brand than good. Incorporating culturally relevant subtleties help activate memories, thoughts, and feelings and provide an accurate picture of someone's
Today there is a cultural alignment that's overriding socio-cultural norms and providing new media opportunities. For example, second and third-generation Hispanics are more adapted to the U.S. culture and American customs, yet they still maintain an attachment to their Latin traditions and value system. An astounding 85% of U.S. Hispanics consider themselves Latino American with an uncanny ability to simultaneously live two cultures, giving them a unique position in the consumer landscape.
Brands have an opportunity to develop relationships based on genuine connections. Conversations that now can be bicultural and multilingual.
A recent Google study found that when advertising includes aspects of Hispanic culture, 88% of U.S. Hispanics pay attention, and 41% have a more favorable impression of a brand. At the risk of oversimplifying the process, it begins by focusing on your brand's key attributes and then determining how to create messaging that will resonate with a new audience in a culturally appropriate way.