Latinos currently make up 20% of the U.S population. However, despite U.S Latino consumer power coming in at approximately $1.7 trillion per year, only 6% of industry investment goes towards this market.
This provides a huge opportunity for brands to make up that gap. Latino consumers are a major economic powerhouse, and can be reached through on-demand video and streaming. That’s because Hispanic audiences can find more of the content that they want to watch on these platforms, making them 17% more likely to have CTV apps installed on their devices than mainstream audiences.
In order to most effectively reach Latino consumers, advertisers and media planners need to understand the role of culture and context. Latino culture is rich and diverse, and contextual factors like language, acculturation, geography and lifestyle all play a role in how best to connect with this growing population. By leveraging an understanding of these cultural nuances, advertisers can more successfully engage Latino consumers.
WHAT DOES CULTURE AND CONTEXT MEAN IN RELATION TO MARKETING?
Culture and context are two of the most powerful assets for any modern marketing campaign. Culture relates to customs, beliefs, values and other expressions that define a group of people – including language, style and even food preferences. Context is a bit more nuanced and refers to the environment, experience and motivation within which any given message is received.
By understanding both culture and context, businesses can craft messages that accurately connect with Latino consumers on both a personal and collective level. For example, recognizing the Spanish language proficiency of many Latinos gives advertisers potential leverage in their outreach efforts – creating content that speaks directly to each individual customer’s values and needs.
Additionally, developing a clear context involves using proper timing as well as applying analytics to optimize campaigns towards success. When used together, culture and context become incredibly valuable tools in your marketing arsenal for reaching Latino customers.
THE IMPORTANCE OF UNDERSTANDING THESE CONCEPTS WHEN TARGETING THE LATINO DEMOGRAPHIC
Understanding culture and context is essential when targeting the Latino demographic. Cultural nuances can affect everything from which colors are used in branding to how a message is received by the audience.
Context refers to understanding the mindset of an audience, such as understanding their lifestyle and values, as well as how they communicate with others. Taking the time to immerse yourself in these integral concepts is critical when trying to understand how best to engage with this demographic. Ultimately, by doing so, advertisers are able to capture the attention of their audiences by speaking their language and showing that they understand who they are and what matters most.
HOW ADVERTISERS ARE USING CULTURE AND CONTEXT TO REACH LATINO CONSUMERS
The good news for brands is that audiences react very positively to brands that show up in culturally and contextually relevant ways.
A recent study by Kantar found that signage with in-language messaging inserted into in-language programming drove significant brand lift for advertisers. Virtual billboards in a program provide a blank canvas for messaging in a way that allows you to speak directly to your target consumer, not only in language but in culture as well.
Impressively, virtual product placement in prime-time novelas also led to a 35% lift in ad awareness, proving that Latinos appreciate when their favorite brands show up in their favorite programs.
HOW TO MAKE SURE YOUR MARKETING EFFORTS ARE CULTURALLY RELEVANT
When it comes to marketing to the Latino community, there is no one-size-fits-all approach. Companies must pay attention to the cultures, languages and lifestyles of the people they are trying to reach in order to tailor their products, services and marketing strategies in a way that resonates with them.
Most importantly, companies must stay informed on trending topics that are relevant to Hispanic culture and incorporate them into their marketing strategies if they want to make sure their message is being received.
Businesses can also find creative ways to engage the audience by leveraging cultural customs and holidays such as Dia de los Muertos or Cinco de Mayo in order to make a lasting impression on their target demographic. With dedication and an understanding of how culture affects communication, businesses can create compelling campaigns that will truly resonate with this growing market.
WHY IT'S IMPORTANT TO CONSIDER BOTH CULTURE AND CONTEXT WHEN DEVELOPING MARKETING STRATEGIES
When developing marketing strategies to reach Latino consumers, it is essential to take into account both culture and context. The cultural element is integral for crafting an engaging message that speaks authentically to this target consumer - one that resonates with their values and worldview.
On the other hand, context provides important information about when and where to invest in campaigns. Knowing when and where potential customers are most likely listening or reading is essential for any successful marketing strategy. Together, culture and context provide a powerful set of tools necessary for effectively engaging with Latino consumers.
INTRODUCING MIRRIAD'S MULTICULTURAL MARKETPLACE
Mirriad’s In-Content Multicultural Marketplace creates new inventory within Black, Hispanic, Asian American and Pacific Islander (AAPI), and LGBTQIA+ owned and led media. This breakthrough solution empowers our diverse partner community with an incremental revenue stream, and gives brands and agencies unique access to invest at scale in minority-owned, operated, or targeted media (and transact directly through these partners).
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