About Us : Hispanic Marketing
Customer service is as important to the health of businesses as sales, marketing, or product innovation.
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With companies increasingly selling similar products, CEOs said the quality of customer service was often the only differentiator.
- USA Today, “CEOs Say Customer Service Drives Growth”
August 20, 2007 |
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Yet, many companies view customer service as just “expensive overhead.” It’s not – consider these facts:
- Repeat customers spend 33% more than new customers
- It costs 6 times more to sell something to a prospect than to sell that same thing to a customer
- Referrals among repeat customers are 107% greater than non-customers
This basic business principle holds true for no one more than the Hispanic consumer. Service is paramount to Latinos. It trumps price, it trumps location and it can even trump modest quality issues.
Why should Latino marketing be important to your business?
Large Population
Latinos are one of the fastest-growing segments of the U.S. population. In 1990, the Latino population in the United States numbered 22.4 million. Today, the Latino population in the U.S. has grown to 44.5 million. That’s an almost 100% increase. To put these numbers into context – there are now more Latinos living in the U.S. than Canadians living in Canada!
Lucrative
With an average household income of $45,701, the Latino population offers a lucrative opportunity for business. Additionally, the Latino population is the youngest of all ethnicities. There are two key reasons why the youth of this population matters to business:
- it indicates rising purchasing power in the coming years – their greatest income earning potential is still ahead of them
- it underscores the current levels of Latino purchasing and consumption of goods.
Whether your company is looking at the economic growth opportunities in Latino marketing today or in the future, there is no denying the trend that the Latino population is setting.
Loyal
Loyalty is a key Hispanic value – in faith, family, friends, and brands. Among U.S. consumers, no other group demonstrates greater brand or service loyalty than Latinos. So, if your company demonstrates that Hispanic consumers are valued, respected and cared for, you will be rewarded generously with deep loyalty, repeat business and frequent referrals.
Spanish is Important
The U.S. Hispanic population is divided roughly as follows:
- 56 percent prefer Spanish as their primary language
- 26% percent are bilingual
- 18% are English dominant
This indicates that 82% of the U.S. Latino population speaks Spanish at home. Spanish is the language of their heart - which translates to the language of their wallet.
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“English seems too formal and cold. Spanish is more emotional and you feel connected. If I find someone who speaks Spanish, I will ask for them all the time.”
– Ana Laura Garcia, Mexico City
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Speaking to Hispanics in their preferred language will help facilitate the growth of a relationship. Once a Spanish-speaker knows that they can communicate in Spanish, there is a sense of relief and an immediate connection is established. Trust is established and there is comfort in speaking with no concern that communication will be lost in the translation.
Centris has found that the key to communicating with Hispanic consumers is not just speaking in Spanish, but speaking proper Spanish. You must be able to communicate with this consumer proficiently in order to gain their trust and attention.
Speaking to your Hispanic customers in proper Spanish will make you credible and trustworthy. It sets a professional tone. It is important to speak proper Spanish in order to communicate with the consumer about specific products, therefore demonstrating your expertise in the subject.
Making a sincere effort to communicate with this consumer in Spanish will prove beneficial. This consumer will see that a true effort was made to communicate with them and to try to earn their business.
Northern Mexico
Centris chose Monterrey, Mexico as its base for its Spanish-speaking operation due to its highly educated workforce and cultural awareness of both the U.S. and Latin America markets. Centris representatives are college educated and bilingual professionals ready to create positive experiences for your customers.
 Download the The Hispanic Customer Service Experience – Making Your Business Latino-Ready and Latino-Friendly
Providing outstanding customer service is important with all customers, and the Latino customer is no exception. Grow your business by learning how to attract one of the fastest-growing segments of the U.S. population. Click here to download FREE booklet in PDF format.
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