Hispanic-Americans are one of the fastest growing populations in the country, reporting higher disposable incomes and brighter visions for their financial futures. The influence of Hispanic and Latino culture is undeniable: America is quickly becoming a bilingual country. It should come as no surprise that the translation experts at Milla & Co. recommend that American companies newly interested in translation services explore using Spanish language marketing to reach the booming Hispanic American market.
Read on to discover more about this powerful consumer base, and how Spanish language advertising can help you attract loyal customers and clients.
According to the November 2017 report by Simmons Research, 17.4% of Americans aged 6 and older identify as Hispanic or Latino. Hispanic Americans make up the largest ethnic minority in the United States, and the influence of Hispanic and Latino culture on American audiences is undeniable. From “Despacito” and “Jane the Virgin” to politicians offering both English and Spanish language speeches, it is clear that Hispanic Americans are only continuing to contribute to our ever-evolving cultural identity.
As Hispanic American populations continue to grow, so do their purchasing powers. Simmons reports that Hispanic households account for 10% of all discretionary spending in the United States, with annual expenditures of $192.6 billion on non-essentials in 2017. The rate of discretionary spending is growing faster among Hispanic households than non-Hispanic households. Hispanic households spent 5% more in the past year compared to 3% for other households. Hispanic consumers are also more optimistic about their personal financial situation continuing to improve.
Hispanic-American Consumers Look for Targeted Media
Three quarters of Hispanic adults prefer to speak at least some Spanish. While the vast majority of Hispanic Americans are bilingual, the significance of Spanish language advertising goes far beyond readability and understanding.
Upon interviewing consumers about their feelings towards Spanish-language advertising, Simmons concludes: “Even English-dominant Hispanics still have emotional ties to the Spanish language that carry over to companies that advertise in Spanish.”
Forty-seven percent of Spanish-dominant Hispanics and 24% English-dominant Hispanics agreed: “I am much more loyal towards companies that show appreciation for our culture by advertising in Spanish.”
While most Hispanic American consumers will feel comfortable reading advertising materials written in English, utilizing Spanish shows that your company can offer a product or experience that speaks to their unique cultural identity. Adjusting your content could potentially attract an entire subset of the population that otherwise would not notice your business among competition and the noise of the internet.
Diversifying Your Content is a Forward-Thinking Move
As our world becomes increasingly digital and undeniably global, companies are searching for ways to utilize digital content to explore new audiences. By investing in Spanish translation your business can get ahead, appealing to this rapidly growing market before your competition.
With Spanish translations serving as a source of information for some prospective consumers and an emotional connection to their families and culture for others, avoiding Spanish translation could ultimately cost your business as Hispanic American populations continue to grow and achieve new levels of economic success.
You Can Start Small: Consult an Expert for Advice
If you are on the fence about whether Spanish language translation is the right move for your business, never fear: you can start small.
A majority of Hispanic-Americans are bilingual, particularly second and third generation Hispanics. As a result, mixed-language marketing is an effective tool for appealing to these audiences. Consider hiring a translation expert to consult with you to create unique taglines and advertising hooks to draw bilingual Spanish-English consumers towards your existing print and digital content.
As you experiment with your success within Hispanic American markets, you may continue to translate existing content from English to Spanish, or to develop targeted Spanish language content that utilizes the unique structure, humor and flow of the language.
To learn more about how Spanish language translation can work for your business, reach out to one of our native speaking translation experts.