According to recent Census data, the purchasing power of Hispanics will surpass $1.4 trillion by 2013. Furthermore, according to Mintel, Hispanics spend a greater share of their total house income on the food and beverage category – 16% vs. 13.4% for non-Hispanics.

Did you know:

  • Latino Facebook users grew 167% from April 2010-April 2011. General market grew only 21% *
  • 54% of Latinos regularly use Facebook (vs. 43% General Market) ++
  • 63% of Latin women who regularly access social networks do so in order to look for recommendations on products and services before making their purchase decision
    • Of those women, a staggering 70% say there is a higher chance of purchasing a product when it is recommended +++
    • 87% of Latina women access Facebook on a weekly basis. Of those, nearly 25% have made a purchase based on comments or recommendations +++
    • 50.6% of Latino Facebook users prefer English
    • 12% of Hispanic adults access social networks from their mobile phones+
    • 59% of US Latinas trust brand/product comments on social networks more than traditional ads (Sophia Mind Survey, 2010)

Be Part of Your Brand Converstaion

  • Chances are your brand is already on Facebook whether as an unofficial brand or fan page (created by someone other than you), so why not take control and be part of the conversation?
  • Nearly 50% of all US brands do not include Latinos in their marketing mix, stepping into social media can be a simple and cost effective way to edge our your competition for this highly influential segment.
  • Building trust within the Hispanic community is important.  Having an honest two-way conversation is a step in the right direction and building a community of loyal brand users is the icing on the cake.
  • Don’t allow your brand to be viewed as out of touch or irrelevant by not playing in the social media space where your current and potential new consumers are spending their time.

 

Sources:

*comScore, April 2011

+Census It’s All in the Numbers, Porter Novelli, May 2011

++SIMM®16 Hispanics, African Amiercans and Asians More Digital-Savvy Than Caucausians, BIG Research

+++Impact of Social Networks on Purchase of Latin Women, Sophia Mind, 2010

 

 

 

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