A consistent message has been widely expressed throughout forums like this one, books and traditional and new media. Phrases like "the Hispanic market represents a critical opportunity for your business today" or "there is potentially a huge opportunity for marketers" make reference to what some studies and statistics seem to indicate: Hispanic consumers as a group represent a market potentially worth a trillion dollars.
This country's big media content producers, whether they produce in Spanish or in English, are in danger. The danger they face is two pronged. On the one hand, the film and television industries seem satisfied to keep producing content that appears to ignore or somehow overlook the real face of America today. Of course, they cannot really be blamed because they have been getting away with it for so long. The studios or networks might point to a current sitcom or two and say: we are multicultural, we are diverse. Why would people object? It's just entertainment, what should we ...
Last week, Hispanic marketing pioneer M. Isabel Valds published her fifth book, "WIN! The Hispanic Market; Strategies for Business Growth." Isabel Valds took a unique approach by aggregating the voices of 19 Hispanic marketing industry experts to illuminate the importance of the Hispanic market and to provide actionable insights and strategies for driving real and sustainable business growth. I am proud to be one of those volunteer voices and will herein summarize my contribution to the book, "The Hispanic Digital Marketing Opportunity."
Anyone who has ever looked at the U.S. Hispanic market views it from the lens of segmentation - or the subsets within the broader market, based on one or more shared characteristics. There are countless ways to segment the U.S. Hispanic market: age, religion, political affiliation, family size, nationality, geography, etc. However, as I've written extensively, there are some macro segmentation models that are commonly used as a first, broad step in thinking about the 50 million plus U.S. Hispanic consumer market. Three of the most used macro segmentation models are 1) language preference; 2) acculturation; and 3) immigrant generation.