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The Three C’s of Hispanic Marketing for Financial Institutions (Part I)

By 2020, one in five Americans are expected to be of Hispanic origin. This staggering statistic demands your business’s attention. Many companies would agree that ignoring the Hispanic market is a mistake. But most are unsure of how to reach them. And others still wonder if their particular business truly needs to market to Hispanics right now, or if they can push it off a little longer. When it comes to banks, the answer is “go for it.” Hispanics need a bank today, not five years down the road. Unfortunately, most banks are doing a poor job marketing to them. As a result, the Hispanic market is a wealth of potential for financial institutions. Hispanics will pick a bank because they have to. So how can you convince them to pick yours? By following the three C’s of Hispanic marketing: Communication, Community, and Culture. Communication: Hispanic marketing is not: translating all your English ads …

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Tamales and Traditions: The Culture Gap in Hispanic Marketing

According to the U.S. Census Bureau and Pew Hispanic Center, the Hispanic population will make up 30% of the nation by July 1, 2050. This is exciting news for businesses, IF they decide to tap into the Hispanic culture and influence.  Most companies have seen this rising trend and are preparing to appeal to the Hispanic population. But now, the real question- how? How do you captivate an audience who’s culture is so different from America’s? How do you know that your message is being communicated effectively? Here’s some basic “do’s” and “don’ts” when advertising to Hispanics.  Do: Customize your message.      Certain messages in English may sound the same grammatically in Spanish but have entirely different connotations. The California Milk Processors decided to translate their motto, “Got Milk?” into Spanish but ended up with what sounded like, “Are You Lactating?” in a Hispanic’s mind. By double checking grammar, correct …