Taking a 360° Approach to Hispanic Marketing
Boosting Brand Engagement Through High-Quality Customer Service
As the fastest and largest growing demographic group in the U.S., Hispanics have
tremendous buying power. Surging over 100 percent in the last decade (more than
double the rate of the entire U.S. population) to $1 trillion, their buying
power is expected to grow 50 percent in the next five years, according to a
multicultural economic study by the Selig Center for Economic Growth at the
University of Georgia Terry College of Business.
For savvy brands, the increased spend in Hispanic marketing is translating into
greater revenue growth, according to a recent report by the Association of
Hispanic Advertising Agencies. But, engaging Hispanic consumers and turning them
into repeat customers goes beyond media buys.
In a recent MediaPost.com article,
Moving Beyond The Hispanic 'Right Spend' Argument,
"Hispanic investment level for a company involves looking well beyond marketing.
Particularly for new entrants into the Hispanic market, making sure you take a
total business approach, considering product development, customer service and
channel strategy, among others, are critical. Therefore, the right spend
calculus needs to consider much more than marketing expenditures."
While the 2010 U.S. Census data revealed that the majority of Hispanics are
bilingual, heritage Spanish speakers have greater difficulty understanding and
discussing more complex issues, such as healthcare and financial information.
Contact centers play an important role in delivering high quality customer
service and ensuring customer satisfaction. The right contact center offers
highly trained, bilingual customer service agents that can switch from English
to Spanish with ease, deliver a seamless brand experience, understand cultural
influences and can hold a ‘conscious conversation.’ Beyond their
lingual-flexibility, these agents are empowered to make on-the-spot judgment
calls which resolve issues immediately and appropriately.
Bottom line – When
engaging the Hispanic market, spending more on Hispanic media is just the tip of
the iceberg. A more disciplined strategy that includes highly skilled
Spanish-speaking customer service agents will ensure brand loyalty and repeat
sales from this rapidly growing group of consumers.
We hope you found this month's Dialogue informative.