Mexicans are the largest Hispanic group nationwide and in 40 states, according to data released from the US Census Bureau. Between 2000 and 2010, the Hispanic population grew by 43 percent, or four times the nation’s 9.7 percent growth rate.
This brings up three points to consider when evaluating and forming your sales and marketing channel strategies:
Use local talent. Bring on specialist brokers, PR agencies, and retailers with proven success in reaching and selling to Hispanic consumers. Pay special note to your current strategies in the nation’s five largest metro areas… espcially in Midwest US cities. How well do your retailers and advertising providers reach Hispanic households?
Value family ties. Multi-generational and extended family ties are strong in Hispanic communities nationwide. Your value propositions and outbound marketing themes should encourage word-of-mouth referrals, family plans (think Verizon Wireless) and “trusted source” status to gain business from three generations, from abuelos to niños.
Think North American. If you’re realizing sales gains in the US Hispanic sector, know that here’s a fast-growing market in Mexico, too. Work up a channel strategy that will cover key areas there, to complement what’s working in the US. Head to www.trade.gov and get in touch with your local Export Assistance Center for a quick and easy evaluation; they’ll even help introduce you to best partners in Mexico and other countries.
Read all about it here.