| Major marketers in the United States have | | | | one major advantage over the old strategies: it |
| recognized the importance of the Hispanic Market | | | | provides your company with unlimited access to the |
| since the early 1990's. Back then, only Fortune 500 | | | | potential customers you're looking for, as well as the |
| companies with multi-million dollar marketing budgets | | | | ones who are looking for you.Many companies are |
| started targeting this promising vertical segment | | | | NOT yet jumping on the band-wagon with Hispanic |
| through Hispanic TV, radio, and print advertising. | | | | relevant internet content because they perceive the |
| Although still in its infancy, Hispanic marketing proved | | | | Hispanic Market as being unreachable through this |
| to be a crucial facet of many campaigns as | | | | medium or not technologically savvy. This couldn't be |
| marketers realized that Hispanics consume a | | | | farther from the truth and recent studies have |
| disproportionate amount of certain products and | | | | proven it. In March 2004, a study by AOL revealed |
| services in relation to their discretionary income. This | | | | that 14 million plus Hispanics in the United States are |
| is especially true for industries that provide a | | | | using the internet. Moreover, about 20% of that |
| connection to friends and family back home- such as | | | | number had just connected to the internet in the six |
| telecommunications, wire-transfer services, and travel | | | | months prior to the study! When the Study surveyed |
| related services.Back then I was part of a newly | | | | Hispanics who were not yet online they found that |
| developed Hispanic Marketing Team at AT&T. AT&T | | | | over 50% of them expected to have an online |
| had realized that targeting this emerging vertical | | | | connection within the next couple of years. These |
| would mean access to customers who spend almost | | | | numbers are staggering. The Hispanic Market is |
| twice as much as the general market on traditional | | | | surfing the web in increasing numbers, and only |
| long distance. Although AT&T had been somewhat | | | | companies that cater to their specific internet habits |
| successful in reaching this market through traditional | | | | will reap the benefits of this lucrative segment.So |
| media, it had not made any significant inroads in | | | | how can YOUR business capitalize on this |
| reaching Hispanics through direct marketing.My | | | | phenomenon?Above all, you have to know your |
| challenge at AT&T was to develop new and | | | | market. This means understanding who your potential |
| innovative strategies to reach Hispanics in order to | | | | customers are and how they use the internet. The |
| curb the attrition that was occurring as a result of | | | | Hispanic market spans over a huge demographic. In |
| major competitors' aggressive efforts in this market. | | | | order to attract traffic and custom-tailor your |
| One of the most valuable lessons that I learned was | | | | content, you have to be familiar with your target |
| that in order to acquire and retain these valuable | | | | market's countries of origin, language preference, |
| customers, you need to present them with culturally | | | | income level, and a number of other varying factors |
| relevant information in their own language. It was not | | | | that may pertain specifically to your product or |
| enough to translate materials that were designed | | | | service. If you aren't an expert in this field, make |
| with the needs and interests of the general market in | | | | sure that you perform very thorough research, or |
| mind. This revelation proved to be a very profitable | | | | hire the services of a professional web marketing |
| one! Once we started developing culturally relevant | | | | firm that specializes in the Hispanic market.Don't |
| copy in Spanish targeted at these specific segments, | | | | waste your efforts or risk your reputation- you will |
| we managed to stem the attrition from the | | | | only attract customers from a particular segment if |
| competitors and our direct mail response rates went | | | | your message rings true to them. Go for the "low |
| through the roof. Hispanics were not used to | | | | hanging fruit." The Hispanic market has reached critical |
| receiving mail in Spanish that had them specifically in | | | | mass and is there for the taking for those companies |
| mind. It was not unusual to have response rates of | | | | that are smart enough to realize it. If you do it right - |
| 5% to 10% when traditional general market response | | | | you will reap the benefits.Rick Caraballo is the author |
| rates were only 1% to 2%.Although much has | | | | of this article and the CEO of Avance Web |
| changed in this market over the last ten years- with | | | | Marketing- a South Florida Web Marketing Firm. An |
| the advent of the internet as a new medium to | | | | expert in Hispanic Marketing and E-Business Services, |
| reach this segment- many things remain the same. | | | | Rick has over 20 years of marketing and business |
| Hispanics still want and need Hispanic-relevant content | | | | experience, including VP of Marketing and Business |
| and copy in order to make informed purchase | | | | Development for an internet company, as well as |
| decisions. The internet hosts a wealth of | | | | executive marketing positions at companies such as |
| opportunities to access cultural markets in the same | | | | AT&T, Verizon Wireless, and First Data. Rick has an |
| way that the direct marketing of the early nineties | | | | MBA in Marketing from Baruch College in NY. |
| did. But a strong internet marketing presence poses | | | | |