Posts Tagged ‘sales process’

By Rieva Lesonsky

You know that Hispanics are a huge, and growing, market in the United States—but did you know that your business might be missing out on profits if you aren’t targeting an unexpected group of Hispanic customers? I’m talking about Hispanic men.

While conventional wisdom might suggest Hispanic moms are the primary decision-makers about household purchases, a new study from Mintel reports that 42 percent of Hispanic men and 55 percent of Hispanic fathers are primary decision-makers on household expenditures.

The older the men are, the more likely they are to be key decision-makers in the family or household. Among Hispanic men aged 45 to 64, 54 percent make the final household purchasing decisions; among those aged 35 to 44, 50 percent do; and among those 25 to 34, 44 percent do.

“Everywhere we look, marketers are directing their focus on Latinas, but brands are forgetting to talk to Hispanic men,” explained Leylha Ahuile, senior multicultural analyst at Mintel, in announcing the research. “Ignoring Hispanic men is an unwise mistake as this growing group, like most men in the U.S., has taken on a greater role with household chores, caring for children and shopping for the household.”

In addition to having the primary say in household purchases, Hispanic men from higher-income households were the most likely to actually take on shopping duties. More than three-fourths (78 percent) of Hispanic men in homes with incomes over $100K  report purchasing clothing or food products in the last year, compared to 67 percent of those with household incomes under $25K.

How can marketers more effectively target this niche market?

• Don’t stereotype. Two-thirds of Hispanic men believe that advertisers unfairly stereotype them. In contrast, half of them believe that the media largely presents positive images of Hispanic women. If necessary, enlist an advertising agency or copywriter familiar with Hispanic culture to ensure that your ads are culturally sensitive.
• Focus on value. Discussing how Hispanic men, and Hispanic dads in particular, can gain good value from buying your products or services can set you apart from the competition.  Value doesn’t just mean low prices; Hispanic men are more willing than Hispanic women to pay a little more for their favorite brands, so showing them how your product or service is worth the extra cost can pay off.
• Use sampling. Some 44 percent of Hispanic men say they bought a new product after first sampling it in a store.
• Market with social media. Word-of-mouth, both online and off, is important to Hispanic men. Some 42 percent say they made a purchase after a friend or family recommended the product. Make it easy for your target customers to pass on emails, share information about your product on social media or otherwise let their friends and family know what they think of your product.
• Use niche media. Nearly one-third (32 percent) of Hispanic men say they are more likely to be influenced by ads on Spanish-language TV than on English-language TV. Also consider advertising in Spanish-language magazines, newspapers and websites.

Image by Flickr user Moodboard (Creative Commons)