Spanish Language Marketing Opportunities: The Numbers Are Clear| June 9, 2013
I am frequently asked what my assessment is of the ‘Latino Market’ here in the United States. In summary I respond that it is a wonderful business and marketing opportunity underscored by the 50 million Latinos who live in the United States; all of whom need products and services. Like with all market niches, those who wish to focus on positioning themselves for engaging them and thus creating opportunity will always do well. Those who watch, think and wait will be passed by by those who recognize the opportunities at hand.
The largest misconception non-Spanish speakers have about effectively connecting to this market is the belief that if you as the business or marketing head of your company don’t speak Spanish, you can’t enter this marketplace. This is a big misunderstanding. Take trade between the U.S. and China as evidence to the contrary. Hundreds and billions of dollars of trade annually occurs mostly between companies whose marketing and management point personnel are not fluent in both languages.
The strategy most savvy business people employ is to utilize linguistic and cultural expertise. These experts who facilitate business development, sales and marketing are specialized company employees, contractors or representatives. Business owners and marketing department heads leverage the company’s position in the marketplace via these experts. Decision makers learn what they need to know in order to manage that aspect of their business and delegate the rest.
This is how all successful business is operated; not just Spanish language or Latino culture related business and marketing. Business people who think they need to be fluent in Spanish in order to do business with the Latino community are being shortsighted and not visionary.
There are many ways a language and cultural liaison is created or utilized to leverage a given company’s business opportunities in the Latino Market. The ultimate assessment is made on traditional business and marketing practices; the nature of the product(s) and services the company has to offer and the numbers and economic potential of the community being evaluated as a marketing target. Given that the Latino community is the largest so called ‘minority community’ in the United States, the potential is great. The challenge simply is to create a business goal and vision which can be realized through the hands of cultural and linguistic experts who know how to reach and do business with this community. As Obama showed in the 2012 presidential election, knowing how to reach the Latino community lands big dividends.
Rob Coven is president and founder of Market To Latinos an online, Spanish language based, marketing and consulting company. He has been working and living with the Spanish speaking and Latino community since 1984. He writes blogs and shares important articles and research on the Spanish speaking population in the U.S. and abroad. Call Rob at 706-850-7555 or info@MarketToLatinos.com.Visit our website: Market To Latinos