Hispanics are one of the most misunderstood and undefined consumers in the marketplace. I’ve never witnessed an identity crisis much like the one Latinos are dealing with – fueled by America’s corporations and their brands as they continue to face a difficult time recruiting and retaining top Hispanic talent, while equally challenged to earn trustworthy relationships with Latino consumers.
Given the seismic cultural demographic shift happening across America, it’s hard to fathom why brands have been so slow to respond to the enormous opportunity it represents. In the latest news about this cultural shift, USA TODAY analyzed U.S. demographic data and came to the following conclusion: “Cities and towns far removed from traditional urban gateways such as New York, Miami, Chicago and San Francisco are rapidly becoming some of the most diverse places in America.”
The article goes on to say: “Students witness the changing face of the country firsthand: Public schools began the 2014-15 school year with an unprecedented profile. For the first time, non-Hispanic white students are in the minority, according to Education Department projections.”
As this so-called “second immigration wave” spreads the cultural demographic shift deeper into America’s heartland and student populations, we cannot afford to miss the boat again.
After years of researching and working with Fortune 500 clients on both human capital and business strategy issues, my organization has concluded that companies begin to realize their own opportunity gaps in earning the loyalty/trust of Hispanic consumers only after experiencing their unique behavioral differences as employees. In other words, it’s not until you have the opportunity to work directly with Hispanic employees and observe their behavioral tendencies that you can begin to realize that marketing to Hispanics requires a deep understanding of their cultural values and how these greatly influence their behavior.
For organizations that are committed to the Hispanic opportunity, keep this fact always in mind:…
To read full article: http://www.forbes.com/sites/glennllopis/2014/10/27/brands-will-never-win-the-hispanic-market-without-one-critical-strategy-part-1/