Multicultural Digital Report released by the Center for Multicultural Science
In a media and marketing landscape that is consistently growing and changing, companies are in a new position: having to create strategies to appeal to this quickly diversifying mainstream demographic. According to recent trends and data, the population is becoming increasingly multicultural–the Latino population in particular is projected to grow anywhere from 4-10% by 2023 in large cities across the nation (Center for Multicultural Science). With such a significant surge in those numbers, it is clear that the Hispanic market is swiftly becoming one of the most prominent and potentially profitable groups in the nation. Culture matters when targeting mainstream consumers, and the utilization of marketing that is derived from cultural insights can be a powerful, effective force. Source While the trends in population growth favor multiculturalism, there is another aspect of the marketing world that is changing: digital media and consumerism is becoming the dominant means of reaching the masses, including the ethnic demographics. According to the 2018 Multicultural Digital Report released by the Center for Multicultural Science, 85% of the Latino population uses a smartphone every day, and 56% of the same group uses a computer every day for news, entertainment, and other media. Keeping these numbers in mind, it’s obvious that the increasingly-multicultural mainstream is well worth targeting, and that their prominence on the digital media market should be taken into consideration. Appealing to the ethnic sectors of the population, including the Latino consumer base, is becoming more important than ever. That’s where we come in. By working with a group like The Hispanic Approach, companies can take advantage of this unique opportunity to expand their reach and appeal to new sectors of the consumer base. Additionally, creating advertising specifically for multicultural groups is likely to yield positive reception—self-referencing, or the idea that the consumer processes information by relating it to themselves, implies that advertising or marketing directed at specific ethnic consumer bases increases positive ad perception (Center for Multicultural Science). On the whole, more than half of the Latino population believes that ads are made for them if they reflect their cultural values, if they include people that look like them, and if they recognize their cultural background (Center for Multicultural Science). At The Hispanic Approach, we have the knowledge and the techniques to assist you in developing marketing strategies that appeal to the Latino consumer base and create lasting connections to this fast-growing audience. To learn more about the Hispanic market or The Hispanic Approach, visit http://thehispanicapproach.com/.