Spanish-speaking consumers constitute the fastest growing market in United States. Combined with millions of Central and South American consumers, this new niche market is wide open to businesses willing to adapt to the times. U.S. Census statistics indicate that as recently as five years ago 11 million Hispanic immigrants had entered the United States. About 6 million are from Mexico with just over 5 million being legally documented. Most Hispanic and Latino immigrants are fleeing political persecution and economic distress and are looking for a brighter future in the U.S.
Spanish-speaking consumers are often professionals with good-paying jobs in the medical, insurance, and construction fields. Though many speak fluent English and have already found their way into local U.S. markets as consumers, many speak only Spanish or very limited English at best. It’s time that small businesses in the U.S. take a hard look at reaching this market niche, not only on local levels but especially via the Internet.
Translating English to Spanish to Overcame the Language Barrier
Translating English to Spanish is the first step to reaching this huge group of consumers. Many Hispanics and Latinos have excellent incomes. Businesses that successfully overcome the language barrier will position themselves as leaders in reaching this growing number of consumers. Small U.S. businesses that can provide the essential goods and services Spanish-speaking customers are looking for will grow.
The Internet has become as popular among Spanish-speaking consumers as it is among other population groups worldwide. Translating English to Spanish is a business hurdle for U.S. companies now being met by companies that offer translation services. The expense involved in translating websites and other advertising media into Spanish is seemingly prohibitive but managers need to take a hard look at the prospects this business strategy offers.
Spending Advertising and Marketing Dollars Wisely
Businesses make investments in advertising and marketing every day. These expenditures are the cost of doing business and typically are spent in competitive local markets that are occupied by consumers presented with an already growing number of options. Historically, these expenditures have made sense. Effectively presenting a product to the consumer is worth the cost. It makes just as much sense to spend advertising and marketing dollars, even with the additional cost of translating English to Spanish, in the Spanish-speaking market where consumers are not glutted with buying choices and who comprise a relatively untouched market. Moving into the Spanish-speaking market is akin to moving into an international market with the advantage of not having to go overseas to do it. This is an unexplored market for many U.S. businesses and therefore an unknown, and that makes managers nervous.
Spanish-speaking consumers are just as adept at using the Internet for purchases as are those born and raised in North America. Many companies have already made inroads into the Hispanic market in the U.S. and are beginning to tap into Latino markets in Central and South America. Spanish-speaking consumers are the wave of the future. U.S. businesses that get are willing to take the plunge now will find the waters to their liking.
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