The importance of reaching the Hispanic public
The United States is rapidly growing in diversity, and the Hispanic population is the forerunner of this change. In fact, Hispanics are now the largest minority group in the United States.
The Hispanic population is not only growing in size, but it is also increasing your purchasing power.
In 2019, about 60.5 million people of Hispanic origin lived in the US. By 2060, the Hispanic population is projected to reach $111.22 million, a major factor in the growth of the US population.
Positioning your idea, brand or business in Latin America
The opening of emerging markets and the new opportunities that arise in already developed countries have kept exports at positive values, and many new business opportunities have been detected in Latin America.
According to ALLVP studies, the startup ecosystem in Latin America has experienced unprecedented momentum since 2021. A CBInsights report on Venture capital confirms this. The region received USD 14.8 billion in investment in 2021, an increase of 174% compared to 2020. In addition, 660 agreements were closed, 121 more than the previous year.
There are 21 Hispanic countries, with different customs.
Many Americans assume that Hispanics share the same culture; however, we are a more diverse group. Each country celebrates different festivals, and has other traditions, culinary specialties, idioms, variations of Spanish, etc. Similarly, not all countries in the Hispanic region use or identify with the term “Hispanic,” just as Hispanic is not necessarily only Mexican.
The linguistic definition of Hispanic or Latino is: “the group of people who are related to each other through language, culture, and traditions of Spanish origin, coming from the Iberian Peninsula,” while Latino: “gathers all those people whose heritage of language, culture, and ethnicity derives from the founders of ancient Rome.”
In the United States, it is not interpreted the same. The definition for Latino and Hispanic is: “a person of Cuban, Mexican, Puerto Rican, South or Central American, or other Spanish culture or origin, regardless of race.“
We connect with the Hispanic culture to negotiate and sell successfully
Cultural diversity is always present when doing business and generating sales, especially now that globalization has allowed interculturality to be a characteristic of the business world.
Most of the countries that make up Latin America share similarities with them such as resilience, optimism, humor, values, religion, the importance of family, and even a passion for soccer, but when it comes to doing business in Latin America, you need to be prepared to go further and understand the market in depth.
Our multilingual within-culture strategies provide specific recommendations and identify solutions that enable organizations to understand the cultural differences and social nuances that differentiate the various Hispanic identities in the United States.
Reach the US Hispanic audience in their language.
I am not having bilingual speakers in the company.
If you are trying to appeal to the Hispanic market, your business must have Spanish speakers. Some English phrases do not exist in Spanish, or their literal translation into Spanish may be completely different (and vice versa).