Hispanics are making up more and more of the 327 million sized US population. Of the three major minority groups in the US (Asian, Black, Hispanic), Hispanics make up the largest slice of that pie. Refer to the image below from 2015 Pew Research data.
According to the Latino Entrepreneurship Initiative, there are 55 million Hispanics in the US today. Those 55 million Hispanics have a collective GDP of 2.13 trillion dollars. For perspective, if those 55 million Hispanics were a country of their own, they would have the 7th biggest GDP in the world, and would also be classified as the third fastest growing nation behind China and India. At the time of this study (2015), the national average age in the US was 44, but the average age among Hispanics in the US was 28 years old. This data shows us that the Hispanic market in the US is a labor force that is young and working and seriously contributing to our national GDP.
What does this mean for your business?
At UMG, we use three guiding principles:
1. We’re Not in Kansas Anymore
The market landscape in the US is very different than it used to be. With minorities as the second fastest growing market group in the U.S. (second to baby boomers), we have to start looking at the overall market like a completed puzzle; many unique pieces making up the picture. The Hispanic market is no different. There are about 20 Latin American countries represented in the US today. All with their own sub-cultures and variations on the language. So the Spanish language is not enough to go on, you need experts who can lean into Hispanic cultures in the US. Not just the language that Hispanics speak, but also their cultural values and priorities.
2. Translate Ideas Not Words
UMG uses the word “Transcreation” to refer to instances when a message needs to be adapted from one language to a different language. You want to make sure that the message has the same effect and accomplishes the same goals in English as it does in Spanish, a simple thing like a verb or a preposition can make a world of difference. At UMG, we help our clients transcreate their message, not translate it. At UMG we call that, “cold translation”.
Even big brands have tried the cold translation card. Cold Translation is when you pay someone to translate your messaging or campaign to another language. Unfortunately, those doing so will only translate the language, without much consideration for the marketing goals of the message. For example: When the American Dairy Association ran their “Got Milk?” campaign in Mexico, the ad translated to “Are you Lactating?”. And when KFC ran its “Finger-Lickin’ good” campaign in China, the translation came across as “We’ll eat your fingers off”. You see, it’s not enough to translate just the words of your message, you need to make sure that you translate the message of your message as well.
3. Find the Right Partner
Hopefully, you can start to see that taking your brand or product to the Hispanic market is something you’ll need help with. You can translate almost anything into Spanish, but that doesn’t mean that it will translate into the market. That’s why were’ here. As the Ghostbuster’s would say, “If there’s something weird, and it don’t look good, who you gonna call?”.
Let us help you create a message for your audience. We won’t just transcreate your message, we’ll transcreate your brand. We know how to optimize Hispanic marketing strategies to meet your goals. Don’t let your message be lost in translation.Talk to Us