“Let’s nail this Hispanic Market thingee”
Is your organization angling toward the American Hispanic market in search of green pastures in a down economy? Have you found anybody who understands the market well enough to guide you?
If the only thing that your upper management understands about the Hispanic market is that it’s big, then they’re still in the “thingee” stage. That’s analogous to the Twitter-thingee stage, where they’ve read about it or seen teenagers use it, but they still don’t understand it.
Blaire Borthayre, prominent Hispanic consultant, has written an article on searching for an expert to help you navigate the waters of the Hispanic market. Highlights include:
- “Many immigrants…don’t connect with the sense of panic that other Americans are experiencing.”
- With their endemic aversion to credit cards and multiple breadwinners per household, American Hispanics are going to spend $1.1 trillion in 2009.
- A Hispanic surname (or spouse) does not an expert make. Look for expertise and a track record with Latino businesses in your industry.
This got me thinking about the number of American companies whose Hispanic marketing efforts are much more grass-roots than that. You probably drove past a dozen factories or industrial buildings today with a large Hispanic employee contingent.
When those workers stick around for a few years, they get promoted, eventually to a position in which an exec approaches them and says, “We need you to attend a Hispanic market trade show with Bill next week.” One thing leads to another, and the company has cultivated its own Hispanic market expert: somebody who understands the products, the customer base and where it can lead.
Your company can develop that, or it can take the completely different route of hiring an expert.
Which way do you want to nail your Hispanic Market thingee?
Creative Commons photo credit: heraldpost