Multicultural Marketing Resources https://multicultural.com/newsletters/multicultural-marketing-news-april-is-multicultural-communications-month-2/
By Louis Maldonado
These are uncertain times and, for many, the gloomy sociopolitical backdrop offers little reason for recognizing, let alone celebrating, Multicultural Marketing Month. For several weeks, our newsfeeds have been inundated with worrisome headlines touting signs of economic hardship and declining consumer confidence. But within the din, there have been signs of a growth opportunity. One that inspires reason for hope, perhaps even optimism: The U.S. Hispanic Consumer Audience. This past November, William H Frey from The Brookings Institute published an analysis of the latest Census projections. His work showed that even with zero immigration between now and 2060, the U.S. Hispanic population would grow by 9.8 million people. Concurrently, the other three large racial/ethnic groups would decline: Non-Hispanic White by -44.7 million, Asians by -4.6 million and Black by -2.2 million. He identifies two key drivers to this. First, the older age structure of the non-Hispanic White population will yield a natural decrease, where the number of deaths outpaces the number of births. Second, the current base of the Hispanic population, estimated at 68MM people that account for 19% of the total U.S. population, ensures natural population growth, even without any new immigration. Add to this the increasing education levels that are driving trends in upward mobility and greater affluence, and Hispanic consumers will undoubtedly continue being a source for growth across most categories, at least for those that invest the money and effort to engage them with insightful strategies and relevant ads and content. Under this scenario, some could argue that the growth would come solely from U.S.-born Hispanics that speak English and are living in a diverse, cross-cultural world. Surely, they can relate to broad market campaigns, especially ones with the right culture cues, right? While a valid question that has elements of truth, this approach just isn’t enough. The overwhelming majority of Hispanics, whether born in the U.S. or Latin America, have a deep connection to their culture. A number of reports from leading researchers – including Pew, Nielsen, ANA/AIMM – have shown most Hispanics see their culture as central to their personal identity; one that forges a sense of belonging to a broader group. On both personal and collective levels, Hispanics see themselves as powerful contributors to the U.S. economy and a force that shapes societal trends and sparks innovation at a local, national and global scale. But does all of this hold true for younger Hispanics, especially those that navigate both Hispanic and mainstream cultures well and speak more English than Spanish? The latest MRI/Simmons data show that Gen Z and Millennial Latinos are just as connected and committed to Hispanic traditions and values as are Gen X and Boomer Latinos. Across generations, roughly 70% agreed heritage and traditions are an important part of who they are, and they agree it is important that their children maintain them. The numbers are identical! There were no drops in sentiment related to cultural identity or heritage. Regarding language, a full 70% of Latinos – from Gen Zers to Boomers –self-identify as bilingual, and, for them, Spanish is a catalyst to self-expression that further connects them to their cultural identity and community. For similar reasons, bilingual/bicultural Latinos of all ages choose to consume Spanish-language media and content on all channels and platforms, not because of language dependency but because of the cultural value of the unique programming and content that appeals to and resonates with them. And while many understand English commercials and content, quantitative research has consistently shown that Spanish-language ads perform better on all key measures; from likeability, relevance and message comprehension to purchase intent, message recall and brand trust. Hispanics expect more from brands, especially during these uncertain times where many of them feel quite vulnerable. They want brands to recognize and value them as the upwardly mobile growth consumers that they are. These sentiments resonate even stronger with younger generations, as Hispanic Millennials and Gen Zers are even more keen on brands proving that they see them for their Hispanic identity and unique values, beliefs and lifestyles. And they want brands to see them as creators and drivers to today’s global, cross-cultural exchange, as Calvin Klein so brilliantly did when they chose Bad Bunny for their latest campaign that took the Internet by storm. Even during these uncertain times, the Hispanic audience is, irrefutably, a long-term business opportunity, and winning them is an absolute business imperative. But success requires brands to tap true multicultural specialists with the marketing prowess, deep insights and command of culture required to help them skillfully craft the compelling strategies and create authentic, entertaining stories that drive brand engagement and build affinity and trust.