Can you really afford to ignore a $1.5 trillion economic market?
According to a recent study by Nielson, if the U.S. Hispanic market were its own standalone country, it would be one of the top 20 economies in the world!
Stop reading for a moment and let that jaw-dropping statistic sink in.
Any consumer retailer should stand up and take notice. The message is clear: If you are not properly and aggressively marketing to Hispanics, you are missing out on a huge opportunity to dramatically increase your sales.
The study goes on to say that the median age of the Hispanic demographic market is 28 years old. More importantly, the study identified seven key sectors of the economy which stand to benefit the most from this rapidly growing market. Transportation, which includes automotive sales and airlines, was included in this list.
So, practically speaking, what does this surge in Hispanic buying clout mean for your dealership?
First of all, you need to look at your website. You should consider creating a separate Spanish-language website with Mexican and American flag icons that allow users to easily switch between the two. You should also have a Spanish-language section on your dealership’s Facebook page. The buzzword which describes this is “bicultural.” Read more about it here: http://www.hispaniconlinemarketing.com/.
The most important take away is that second and third-generation Latinos are equally comfortable in either the American or Hispanic cultures.
Now, let’s talk about staffing. How many Spanish-speaking sales people do you employ? How visible are they? What about your receptionist and BDC? Do you have Spanish-speakers manning your chat lines? Is there a function on your phone system with instructions in Spanish? What about F&I and your fixed-ops? Do you have bi-lingual staff in these key areas? And consider this also: The sales negotiation process for Hispanics is somewhat different, so having seasoned Hispanic staff on your front line is essential to success.
In terms of both your digital and traditional advertising, you should consider promoting the bi-lingual nature of your dealership. Foster a welcoming attitude which embraces both the language and the culture of Hispanics.
These are just some of the things you can and should be doing to attract Hispanic buyers to your dealership. So don’t be afraid to learn a new auto dealer marketing language. Because at the end of the day, it will translate into more sales. To which we say: “Bueno!”