Is it worth it?
Why should local companies target the Hispanic market of the Seattle-Tacoma Area? Because the Hispanic market is the fastest-growing cultural segment in the U.S. and its buying power is increasing at a tremendous rate. Further, local data collected right here in the Seattle-Tacoma Designated Market Area (DMA) indicates that it is even more compelling for businesses to target this market locally than even on a national level.
Consider a study on Hispanic consumers in the Puget Sound Region which was a collaboration between Conexión Marketing and Seattle University.* Hispanic respondents who were 18 years of age or older located in King, Snohomish, and Pierce counties were surveyed regarding their preferences and circumstances such as dominant language, time in U.S., and income.
HISPANIC POPULATION GROWTH IN PUGET SOUND
The Conexión Marketing study indicates that Hispanics have become the fastest growing segment in the Puget Sound region. Between 2000 and 2006, the Hispanic community of the Seattle-Tacoma DMA grew at a rate of 10.3% to at least 285,600 while their buying power grew by 32% to $3.7 billion without taking into account undocumented workers and seasonal populations.
While the Hispanic segment may not appear to be as affluent as some marketers would like, other factors make this segment desirable. Many Hispanics have immigrated to this country and may not have established a brand preference yet which could be an excellent opportunity for the marketer. Further, Hispanics tend to be brand-loyal once they establish a preference and they tend to have more children and starting having them earlier than non-Hispanics. Such larger households lead to greater potential for product use and loyalty.
WHY TARGET HISPANICS VIA SPANISH-LANGUAGE TV?
Of the respondents, 87% report Spanish as their preferred language, and 73% speak more Spanish than English at home. Further, 43% of local Hispanics watch Spanish-language TV more than English-language and 35% of them watch 11 or more hours of Spanish-language TV each week.
Another reason for reaching Hispanics via Spanish-language commercials is reflected in a study by Roslow Research mentioned by the Conexión Marketing study. The Roslow study that was published in 2000 showed that the recall of commercials in Spanish among both Spanish-dominant and bilingual Hispanics was 61% higher than that of commercials in English. Message communication effectiveness was shown to be 57% higher and Spanish commercials were 4.5% times more persuasive than ads in English.
Therefore, any company wishing to reach and persuade Hispanic people in the Puget Sound would need to make sure their message is coming across in the appropriate language and through the correct medium so this segment can use their products.
* This article is based on the findings of this study which can be accessed at www.conexion-marketing.com.
