A great post from Collective Wisdom (via @latinapro) 10 Things You Should Know About U.S. Hispanics
1.Hispanics are connecting twice as fast as the general market (14% growth vs. 7%) adding over a million users per year. In 2008, 23 million Hispanics online, about 52% of the Hispanic population. In 2012, more than 29 million will be online, increasing Internet penetration to 58.6%.
Living a connected, collective and spontaneous life is a fundamental Hispanic value and desire. Technology that facilitates connecting, sharing, entertaining and learning is rapidly becoming indispensable for the majority of Hispanics. We are referring to those that are connecting on their computers; recent figures put 57% of Hispanics going online through their mobile phones.
2.The growing Hispanic middle class is super connected: 88% of Hispanics with a household income of $50,000 + are online.
For categories such as technology, consumer electronics, financial services and travel, connecting with consumers where they explore your products, research options, share experiences with communities, and ultimately buy your products is not option, it’s a necessity.
3. Hispanics are early adopters of mobile technology: 31 million have a mobile phone. By the age of 15, penetration of wireless services is 64%, by 17, it rises to 78%. Hispanics have the highest proportion of cord-cutters among all segments.
For the most part, mobile marketing is not really on the radar as a consistent Hispanic marketing strategy. The challenge and opportunity of mobile marketing seems to lie in truly capitalizing on the relationship people have with their mobile devices. The mobile phone is not just another screen onto which we can send ads. It represents an opportunity for us to fundamentally change the relationship between brand and consumer.
4.Hispanics will spend money on what they really want: They spend 42% more on mobile devices and 35% more on data services than the average user.
Convention tells us that the Hispanic market is very value-conscious and often makes purchase decisions based on price. When it comes to technology, the opposite has proven to be true.
5.Roughly half of the Hispanics online prefer Spanish, and for 66% it’s important to be recognized as Hispanic through culturally relevant content.
Online Hispanics move from Spanish to English and back again in different moments of an interactive brand experience. And far from being a disadvantage, this kind of fluid activity opens up interesting opportunities that help us learn about our consumers while allowing them to customize their online experience.
6.Hispanics are dynamic content creators and consumers: Two-thirds of online Hispanics use the Web to view other consumers’ content and 40% create content and provide their opinions online.
Initially generated due to a lack of relevant and in-language content, consumer-generated content in the Hispanic market has taken on a life of its own. Hispanics dramatically outpace the general market in creating and sharing content, and few brands have figured out how to be part of the process creatively. The challenge is to support consumers, provide resources and even become part of the process without imposing artificial restrictions or values.
7. Entertainment content main appeal for online engagement: 37% listen to Internet radio vs. just 30% of non-Hispanics and 36% download music vs. just 29% of non-Hispanics.
They represent a captive consumer that is willing to spend time and in many cases, money for entertainment content online.
8. An online collective life: 77% engage in some kind of online socializing. And 40% are part of a social network. An estimated 20% of Hispanics online are considered “Hispanic-fluentials.”
If word of mouth is key to any successful Hispanic marketing initiative, the online space has taken the dynamic to another level. Online, the collective, hyper-social Hispanic cultural dynamic can be expressed, explored and developed without limits.
9. Multi-tasking: Part of the Hispanic DNA. On average, Hispanics spend 17 hours per week online, but they spend 14 hours per day with a technology device (versus 8 hours for the general population).
The big opportunity: moving focus from one screen to three, dynamically connected screens. Because of their higher propensity to use converged technology, this consumer is the perfect target for developing truly integrated multi-channel campaigns.
10. Hispanic online landscape is less crowded: Interactive Advertising Media Investment represented 4.6% in 2007, while in the general market, it is around 7%.
The online Hispanic opportunity is not only about a big and growing market, or about consumers that are eager to engage. Brands that go in first and engage the consumer first have a unique opportunity to establish themselves as first movers and true resources for Hispanic consumers.