Latinos are arguably the single fastest growing ethnicity in the U.S. It is equally noteworthy that they are also the fastest growing event-going ethnicity in the country as well. Just to demonstrate this, consider the fact that Latinos attend up to 11 films in a year and also purchase 15 percent of the total tickets sold on movies’ opening weekend. Thus, Latinos are 81 percent more likely to attend a major film than the general market.
The current Hispanic population is composed of younger people with the average age being 27 years. It is also market whose purchasing power and disposable income is constantly increasing. Although most Latinos are committed to maintaining their culture, many more are equally keen on assimilating into mainstream US culture. This combination of factors should serve as good news for those in the event ticketing industry and others who want to venture into this industry.
Admittedly event organizers, business people in entertainment and the ticket industry in general seem to still be struggling on how to best capture the thriving Hispanic market. When it comes to marketing live events in entertainment, there is no single procedure for capitalizing on this market. However it is essential that marketers and those in the ticket industry adopt relevant strategies to capture especially the younger Hispanic population.
Entering and thriving in the Hispanic ticket market
An important strategy in entering and thriving in the Hispanic ticket market is to become and stay relevant. As mentioned, the particularly young Hispanic community is continuously seeking to assimilate in the mainstream culture. This means that this community is less interested in event marketing saturated with Latino-fare. Rather it is more interested in events which see them as an American audience and less of a special Hispanic audience.
This, however, does not mean that corporate event marketing should overlook the cultural sensitivities of the Hispanic market. It is essential that the target market feels a connection or a familiarity with the event in question. This may mean that one has to develop advertisement and marketing strategies which the community can relate with. This includes showcasing a Hispanic cast or having a well known Hispanic icon promote an event to his community.
If you are seeking to enter the Hispanic ticketing market, consider the medium of communication as very crucial. An important question to ask is- what type of media do a large majority of Latinos utilizes for entertainment and informational purposes.
Research shows that Hispanics do consume all types of media include internet, print, radio and television. However most Hispanics are more attracted to television and radio and usually just one radio or TV station is dominantly consumed.
More strategies for selling entertainment to this community
Outdoor campaigning in Latino neighborhoods is also an effective strategy for selling entertainment to this community. However choosing the language correctly is very important. This means that communicating in both Spanish and English is plausible. But faulty translation to the Spanish language can be a deal breaker as, naturally, this is considered cultural insensitivity.
The key points to remember are to stay as relevant as possible to the audience’s needs and preferences. Another factor is to remain culturally sensitive to the community’s language and to demographic factors such as the needs of the older and younger generations. Event ticketing is largely a communication affair; so the channels of communication are paramount in winning this thriving market. For new market entrants, staying abreast with developments in the Hispanic entertainment industry will play a critical role. This knowledge will help you determine the trends and most importantly the preferences of the growing Hispanic market.
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