Why is it important to invest in Spanish content?
The verdict of history is that success in business is simple: if you’re in the right place at the right time, you succeed. And if you are in the wrong place at the wrong time, you fail, no matter how hard you try. That’s why consumer trends are vital to business. They point you towards the right place and the right time. – Silverter.com
- The numbers resulting from studies on Spanish speaking individuals, their use of the internet, and their buying power in the world are not easy to ignore.
- The Spanish broadcast stations in major metropolitan cities in the US captivate a greater audience and capture better ratings than the other 4 mayor networks combined.
- Spanish is one of the top 3 most languages in DEMAND on the internet worldwide.
- The buying power of Spanish speaking individuals (Hispanic and Latin American) is in the hundreds of billions. See Google search results.
- By keeping your content and advertising efforts in ONE language only, you are not reaching hundreds of millions of potential customers in the US, Canada, Latin America, and around the world.
- Using a conservative estimate of 500 million, and assuming only 1% of them hear from you (5 mil), and from that %10 percent (500K) may have interest in you, and only 10% of them may actually inquire about you (50K), and only 10% of them actually like what you have to offer and call you or contact you, that is 5K potential clients. From those, only 10% buy, which is 500 potential sales, plus all their friends and families who will recommend your product or service.
Hispanic Population – Fastest Growing Minority in the US
According to the U.S. Census Bureau http://eire.census.gov/popest/data/states.php, Hispanics now comprise over 30% of the population in Texas and California and are the fastest growing minority in the US. Simplicity dictates people would rather speak and read in their native language when possible. Therefore, to be in the right place at the right time, mainstream businesses must use Spanish to reach this growing population.
The U.S. Hispanic market is experiencing incredible growth:
- Hispanics are the largest minority group in the nation.
- They are 50.5 million strong, representing 16.3% of the total U.S. population.
- They currently have a spending power of over $1 trillion.
Hispanics are extremely media savvy and are embracing the web, social media, and mobile technology at an increasingly rapid rate
- They are more likely to buy the latest phones, upgrade them, and use their special features.
- 29.6 million (or 59.5%) of US Hispanics go online at least once a month, and this number is expected to increase to 39.2 million (or 70%) by 2014. (eMarketer)
- Latinos are the heaviest users of the web via their cell phones. (Orci)
- Nearly 80% of Latinos engage in some type of social media. (Orci)
In Latin America, over 63 million people log on every day, connecting to portals, social networking sites, shopping, and seeking out educational opportunities
- Latin Americans are the world’s leaders in social networking, spending an average of 375 minutes per user per month on social networking sites. North Americans spend 249 minutes per user per month.
- Latin Americans top the global online time chart for online usage at 28.6 hours a month. Compare with the worldwide average of 25.7 hours.
- As of April 2008, Brazil had the largest online population in Latin American with 19 million unique users. Mexico comes in second with 11.7 million, followed by Argentina with 8.4 and Chile at 5.3.
- Many Latin Americans are using mobile devices to access the internet. Mobile penetration in Latin America and the Caribbean was over 66% in early 2008, well above the world average of 46%. With 375 million people owning a mobile phone in early 2008, Latin America and the Caribbean hold approximately 12% of the world’s 3.04 billion mobile subscribers.