In 2010, the United States Hispanic population demonstrated their purchasing power at over $1 trillion, and that number is expected to continue its growth substantially in the coming years. Based on a recent study by Advertising Age, the Hispanic population in the U.S. has grown by an astounding 43 percent in the last decade – and that’s compared to a 16.3 percent growth in the remainder of the U.S. population.
With such a large emerging market identified, marketers would be foolish not to take advantage of it. However, the issue does present some challenges. For one, the Hispanic population is highly diversified, as it represents a large number of countries and cultures. That’s why companies need a way to attribute more than just ethnic background when planning their marketing strategies and ad campaigns. They also need a way to identify key demographic factors such as affluence, life stage and interests.
Semcasting Hispanic Indicator Index can help marketers identify and reach out to the increasing number of Hispanic households and businesses. Using the Hispanic index in combination with Semcasting’s other targeting demographics, campaigns can be tailored to effectively target the $1 trillion+ and growing market based on factors beyond ethnic background, thereby allowing the marketer to achieve maximum returns.