The face of the US is constantly changing and evolving. To be an effective marketer or brand builder you must adjust along with it. This makes knowing your audience in detail - beyond age and gender - a must. Understanding cultural differences and nuances is key to developing communication strategies that resonate.
So, how do we do that? We start by focusing on a group and then taking a deep dive into what makes them tick, what their viewing and spending habits are and how they differ in their habits from other groups.
Comprising nearly 24% of millennials in the US, $1.7 trillion in buying power and growing faster than any other segment, the Hispanic market is a key place to start. This digital media savvy group is very active on social media and uses it as a tool not only for entertainment but for product and brand information, spending more time on platforms than the overall population. They also contribute reviews at rates up to 46% higher than any other cultural group. Given the increased importance of reviews for brand and for product loyalty, launch and sales, their voice is increasingly strong. Conversely, this is also a fickle group, with younger Hispanic generations showing less likelihood for brand loyalty than older generations once did. These information seekers are not relying on brand name or reputation alone, they are looking at value, features, function, reviews and more.
Hispanics today are also super-streamers with 87% of them, vs. 79% of their non-Hispanic counterparts, being avid streamers of content, especially when it comes to kid and co-viewing and AVOD content.
This means that not only do you have to reach consumers on the right platforms but you also must do so in the right way. Constant conversation and information sharing is necessary to keep this group engaged. Enhanced brand and product pages highlighting not only the basics like function and value but the nuances that make your product or brand different, exclusive, worthy of their time and investment are key.
Of course, this is all easier said than done. That’s where we come in. In-depth consumer research is just one way we ensure you reach your target market the right way, at the right time. If you are in need of help reaching this power market, we are here to help.
Source: Mintel Traditional Toys and Games - US - October 2018