Some marketers today think the development of SEM tactics for the U.S. Hispanic and Latin American market will not be profitable, while others have glimpsed opportunities just around the corner, but until now, few have taken vigorous action. Call them early adopters if you wish, call them pioneers – it doesn’t matter. What does matter is that this is a new, attractive, and profitable trend for 2006 and beyond, and it’s Latino HOT!
U.S. Hispanic Background
Many companies have tracked and researched the U.S. Hispanic market for over 20 years; however, more than just accurate demographics and consumer data are needed. Predictions for future activities can help guarantee that you take the lead in marketing to this demographic.
In 2002, Hispanics officially became the largest minority in the U.S., a position predicted to last at least through 2050. Synovate reports over 43.5 million individuals of Hispanic descent comprise almost 15% of the U.S. population, and the segment is growing five times faster than the general population (70-plus percent increase in the last 10 years).