October 20th, 2022 By Daniel Pacheco
Hispanic people are the fastest-growing ethnic group in the U.S., according to the Journal of Cultural Marketing Strategy, and an incredibly diverse population in terms of geographical origin, education level, and language. Hispanic people in the U.S. represent 19% of the country’s total population. Moreover, the US Census Bureau projects 111.22 million people of Hispanic descent will be in the United States in 2060.
Despite the growing economic power of the Hispanic community and its striking cultural relevancy in the U.S. marketplace, marketers have yet to address this market adequately, and it’s not for lack of trying. Marketers recognize the buying power of Hispanic consumers. They know how to reach them through traditional channels, but that’s not enough to win their hearts, minds, or brand loyalty. Brands need to create meaningful connections with Hispanic consumers.
Experiential marketing is about creating an immersive and memorable experience. This channel is remarkably effective and strong in reaching Hispanic consumers. It allows brands to connect personally, something greatly valued by this genuine melting pot of an audience whose culture is rooted in community and heritage. We enjoy experiencing life to the fullest while sharing and connecting with others.
The Latin population skews younger than the national average. According to a recent report, 63% of Zillennials (a ‘micro-generation’ of people born between 1993 and 1998 reflecting characteristics of both Millennials and Gen-Z) prefer experiences over material possessions. Moreover, Hispanic young adults are more likely than their white, non-Hispanic peers to engage in activities that provide stimulating experiences, such as outdoor activities, going to a movie theater, visiting a theme park, and seeing a play/musical.
Hispanic people crave experiences and innovative sources of entertainment, so it’s not surprising that 52% are interested in entering the metaverse, far ahead of the 34% of white people who claimed the same. Furthermore, according to Mintel, most Hispanic young adults are willing to splurge on activities they rarely do, highlighting an eagerness to pay for novelty.
When planning a Hispanic-targeted experiential marketing campaign, remember that great experiences fundamentally come from culture and people. Moreover, the success of your brand experiences relies on creating an authentic connection with your target consumer. Here’s how:
- Start by revisiting your brand values and ensuring that what you do in marketing externally is also true internally. Confirm that your brand mission is showing throughout how you do business, including your communication.
- Acknowledge key nuances of the Hispanic audience, their passion points, and cultural trends so that your initiative faithfully reflects the core values of your key target. Demonstrate empathy and connect with your customers on a human level. Show them you understand them by integrating small cues that connect to their cultural passions. Offering optional in-language touchpoints is a plus because they will feel your commitment to engage.
- Reinforce their unique bicultural identity, bring people together and encourage collective accomplishment. Promote a sense of belonging that matches their core social values. Spanish is the most potent cultural connection point among all Hispanic segments. However, only some Hispanic people in the U.S. speak Spanish fluently. Therefore, it’s best practice to ensure all elements of your brand experience are accessible to Spanish and English speakers.
- Many brand owners mistake Hispanic people for the same. To connect with Hispanic consumers, companies must acknowledge and celebrate the subtle differences between the different subsegments of the Hispanic community. Brand experiential, far from being a “nice-to-have tactic,” is key to navigating those subtle differences and establishing a genuine emotional bond with your Hispanic audience.
- Your experiential marketing campaign should encourage your Hispanic customers to explore, learn, play, interact and make sense of your brand world. Create seamless experiences, customized moments, and straightforward journeys. Use tools that engage all their senses, so interacting with your brand is a desire they’ll want to repeat and share. In addition, the experiential offerings must promote well-being and co-creation opportunities that inspire your audience to become brand advocates.
Hispanic consumers are a powerful force in the U.S. economy, and brand owners should connect with them through experiential marketing. Although brands are now allocating resources previously earmarked for traditional advertising buys into digital and experiential, the Hispanic community is still vastly underserved. Creating interactive, immersive experiences that allow consumers to engage with your brand will enable you to make lasting connections, especially within the Hispanic community.