How You Can Tap Into the Lucrative U.S. Hispanic Market Segment

How would you like to leverage sales into a largelymost basic connection. These phrases will relax
untapped market segment of potentially lucrativethe Spanish-speaking buyer and help them see
customers that number in the millions and arethey are in a friendly environment, while you build
convenient to target? The segment wepersonal trust and credibility in their mind.Better
recommend is the growing U.S. Hispanic market.yet, if you already have Hispanic employees in
According to the current U.S. Census, Hispanicsyour workforce why not utilize them as an
are now officially the nation's largest minority atintegral part of the buying experience your
nearly 40 million consumers, or 13.7 % of the U.S.company offers Hispanics? You will profit on two
population, having surpassed the African-Americanlevels. First, you will energize your
market in size during just the past two years.Spanish-speaking employees by letting them know
And this group, which surged 58% between 1990their value to your business, empowering them in
and 2000, continues to grow unabated. Youngera way they may not have been before. In
on average by ten years compared to the restaddition, the Hispanic customer will immediately
of the population, and with larger households byrecognize the value you place on their business
almost a third, Hispanics are the customers ofsince you have Spanish-speaking sales
today and tomorrow.REACHING THE HISPANICassociates.2.In the interest step, gain the
BUYERU.S. Hispanics, often also referred to in thecommitment of the Hispanic prospect to engage
West and Southwest as the Latino market, are ain a dialogue. Ask clarifying questions such as
target group unlike any other in the American"What exactly are you looking for?", or "What is
experience. The difference is that Hispanicsyour need?" or, "May we help you with
acculturate to their life in the U.S., but they aresomething?" These are vital questions to build on
not assimilating in the same way as our Irish,the connection you established earlier and to
Italian, Polish, German and myriad of otherqualify how you can assist them.3.Now explain
forbears who became Americans by beingwhat the product or service does which provides
blended in the famous "Melting Pot." The key forthe answer to their requirements. The
this difference is the Spanish language. Multiplepresentation must be delivered so that the
studies from firms like Roslow Research andHispanic buyer understands what you are showing
Synovate show consistently that two-thirds of allthem, and how their need will be satisfied. It is
U.S. Hispanics prefer Spanish for communicating atessential that you make certain any gap in
home and at work, even after they becomemeaning is closed, especially since the Hispanic
bilingual. There are many reasons for thismay lack the same level of command of English.
phenomenon, but chief among them is theThis is where Spanish-language or bilingual sales
development of a national U.S. Hispanic medialiterature can be extremely useful. Finally, listen
infrastructure, something that no other ethnicintently and ask if you can restate what you just
group has ever enjoyed. Hispanics have the abilityheard, as this is crucial to gain understanding -
to find news, entertainment and information inboth for you and the Hispanic speaker. It also
Spanish on the numerous stations of nationalserves to eliminate or reduce confusion, while
television networks like Univision and Telemundoclearly demonstrating your personal respect to
that help Latinos prosper in their lives in the U.S.the customer.4.At the agreement step ask the
Additionally, other burgeoning Spanish-languagequestion, "Does this product or service look like it
media in the U.S. includes over 600will do the job?" If they say "yes," let them know
Spanish-language radio stations, multiple nationalyou will now create the agreement for the
magazines, major metropolitan newspapers andproduct or service. Should they seem hesitant or
the Internet. These media reinforce in Spanish thesay "no," ask them to further explain to you
Hispanic culture all Latinos share, while providingwhat they have in mind. By all means address the
Latinos living ties to each other and to theircustomer with empathy, patience and respect
respective home countries.And speaking of thewhile avoiding a frustrated style of communication.
country of origin, it is most often México,Your role, no matter what the buyer's native
just across the U.S. border, and so close that thelanguage, is to make them feel comfortable with
ties that bind are not broken by a separation ofyou and be willing to engage you in a positive
an ocean, as in the case of immigrants who camefashion.5.The satisfaction step is vital for two
through Ellis Island. So whether these U.S. Hispanicreasons. First, a satisfied customer will at some
consumers hail from Cuba, Puerto Rico, Colombia,point in time be a repeat customer. And if
Argentina, or México, they are living theanother Hispanic asks a satisfied Hispanic where
American dream while keeping the connection tothey can satisfy a similar need that you can fulfill,
family and friends in their home country.Lookthey will definitely recommend you. Keep in mind
around. For example, in key markets all over theHispanics depend on "word-of-mouth"
country, the construction and service industriesrecommendations from family and friends much
are teaming with Latinos. In the boomingmore than General market customers. Their
construction industry alone, the Nationalrecommendation means you are the first (and
Association of Home Builders has estimated thatmost likely) the only source they will go to for
Hispanic immigrants are filling half of the labor jobsthat product or service.Remember the least
shortfall.That's not all. Next to women-ownedexpensive form of advertising is word-of-mouth
businesses, the highest rate of all new businessand the best lead source is someone who knows
start-ups nationally is among Hispanics. If youyou. Combined with social proof these are the
operate in one of the ten major urban areasmost powerful reasons people buy. Without them
where 75% of all Latinos live, there is no gettingyou could be spending time, money and energy to
around the fact that Hispanics are either part ofbuild a market that could be available to you
your clientele, or should be, if you want towithout the need for excessive promotional
continue succeeding in the years ahead. Even incampaigns. Can you think of a better way to build
more rural areas, the growth in the Hispanicmarket share than by ensuring a pleasant and
population is palpable. In fact, Hispanic Businesspositive buying experience for Hispanics?In the
Magazine publishes an annual look at thecustomer experience everything matters. That
fastest-growing Hispanic businesses in the U.S.,means from the point of the greeting and
and it reads like a perfect prospecting list nointroduction, where you are taking a sincere
matter what your product or service specialty.interest in having the Hispanic prospect as a
From residential builders to air conditioningcustomer, all the way to the point of satisfaction.
contractors to road construction, to janitorial andThe so called 'touches" or interactions make the
maintenance companies, to financial andbuyer experience positive or negative. It matters
telecommunications suppliers, Hispanic businesseseven more in the Hispanic market segment
are making powerful inroads into every facet ofwhere you are trying to gain a foothold.
business and industry.So how can you take thisRemember this universal truth: It takes 80%
recommended target segment and translate itlonger to sell a new customer than an existing
into a strategy to more of your products andone. If part of your company strategy is to
provide more of your services to Hispanicattract and retain the Hispanic customer, then
customers?A SHORT HISTORY LESSONIn orderevery experience, whether large or small is either
to gain perspective on the Hispanic buyer, youcontributing to achieving this goal or detracting
only need to recall the day the first members offrom it. Any experience a buyer has with you will
your family landed on the shores of their newdetermine how many people they tell - in this
land as immigrants. With little or no knowledge ofcase the members of their Latino
the American culture, your forbears sufferedcommunity.CONCLUSIONCultural diversity is a fact
from broken familial ties, the lack of a familiarof the evolving U.S. business world. Therefore, be
social infrastructure and little resource awareness.proactive with your staff. Insist they treat every
Most daunting of all, probably they did not speakcustomer equally with dignity and respect. Spend
English. If they wanted to cross over intotime in a company staff meeting reinforcing the
American society, they were the ones who hadnotion that courteous, patient listening is the key
to reach out.You can be sure that they all wereto improved business. Point out to your staff that
looking for the some measure of respect andsuccessful communication is, and has always been
acceptance in their new country. They werethe key to improved sales. And, unsatisfactory
seeking to improve their lifestyle, and they wishedcommunication means lost sales. These truths
to raise their families in an environment thatendure not just for the base of customers you
promoted equality and stressed the value ofhave today, but also for the additional base of
education.In the same way, the most basic tenetcustomers you wish to attract among the
of doing business with those of Hispanic heritagegrowing Hispanic market.This article was
is to have empathy for their situation. Recognizeco-authored with Joe Albonetti.Joe Albonetti is
that in order to gain a significant share of theirFounder and President of Latino Landia USA, Inc.,
business you must treat and speak to them withwhich is a Hispanic marketing and communications
dignity and respect. Recognize as well that yourfirm specializing in assisting companies reach the
potential Latino customer is in a land and culturegrowing Latino market.He may be reached at
that is not totally comfortable to them yet. But(949) 502-8822 or Don McNamara is a Certified
also accept the fact that unlike previousManagement Consultant (CMC) and is President of
immigrant groups, Hispanics in the U.S. can operateHeritage Associates, Inc. Associates is a full
in Spanish just as comfortably as if they wereservice sales management consulting, training and
back in their native country. In other words, youcoaching company. Don also speaks and writes on
must reach out to them, or they will do businessthe art and science of superior sales management
with those who do.HOW TO BUILD HISPANICand top sales performance.With over 30 years
SALES WITH A FIVE-STEP PROCESS1.Gain theirsales experience from the field level to executive
attention in the approach by reaching out tosales management, in his career he has been an
Latinos in Spanish. This does not take aindividual contributor, corporate sales training
heavy-duty language course. Quite the contrary,manager, regional manager, national sales manager
simple phrases and everyday language will beand vice president of sales. Don is a member of
greatly appreciated, and they demonstrate yourthe Institute of Management Consultants, where
interest, as does signage in Spanish thathe serves as Professional Development Chair and
welcomes them into your retail establishment.the National Speakers Association.For a free
Phrases as simple as "Buenos días. ¿Ene-newsletter contact Don McNamara at or by
que puedo ayudarle a usted?" ("Good morning.phone (949) 230-4363.
How may I help you?") are enough to make the