Communications Crossroads - Fall 2007 - (Page 18)

business advantages REACHING OUT TO THE FAST-GROWING HISPANIC MARKET By Ellen Gragg & Vicki Gervickas The melting pot that is the United States continues to grow and churn, and savvy businesses are always on the lookout to take advantage of the current mix. Take, for instance, the fastgrowing Hispanic market. Census Bureau statistics show Hispanics are the largest minority in the United States, with about 43 million residents making up 14 percent of the population. This group is also the fastest growing of all demographics, and may be particularly attractive to advertisers, because they tend to be younger than the rest of the country. The National Association of Home Builders, for one, keeps statistics on the Hispanic market, and data from the National Association of Realtors shows that the Hispanic population of the United States rose from 22.4 million in 1990 to 35.3 million in 2000—a 58% increase, compared with a 13% increase in the overall population. Between 2000 and 2004, the group reports, the Hispanic population grew to more than 40 million, an additional 14%. Accordingly, the association makes brochures, handouts and even a television ad available in Spanish, to better serve these customers. The stew is also abubble with the attention of the presidential hopefuls from both political parties—immigration is a hot topic and will surely continue to be so beyond next year’s election. And though Hispanics made up just 8.6% of the overall electorate in 2006, according to the Pew Hispanic Center, in states like California, Arizona and Nevada, they account for up to a quarter of eligible voters. Naturally, industry has taken notice. Toyota, looking to overtake its rivals to top the auto industry, earlier this year announced two rounds of incentives for its Tundra full-size pick-up truck, including ads during the last Super Bowl and a test-drive campaign at state fairs and agricultural shows. Notably, Toyota also is going after the Hispanic market with custom-made commercials as well as a dedicated Web site and brochure. Its goal is to sell about 20% of the new Tundras to Hispanic consumers. Telecoms Targeting This Key Audience Telecom movers and shakers are taking aim at this emerging market, too. For example, Sprint Nextel in June debuted its ﬁ rst television commercial with celebrated driver Juan Pablo Montoya. As the primary sponsor of the NASCAR NEXTEL Cup Series, Sprint Nextel has focused efforts on bringing the sport closer to Hispanic consumers, while using the sport’s intensity to demonstrate the speed of Nextel’s products. 18 COMMUNICATIONS CROSSROADS www.ustelecom.org http://www.ustelecom.org

Table of Contents Feed for the Digital Edition of Communications Crossroads - Fall 2007

Up Front Contents TeleBites Cover Story: The World at Your Doorstep Business Advantages: Reaching Out to the Fast-Growing Hispanic Market Technology Today: Ideas from Foreign Telecoms You Should Consider Industry Calendar Index to Advertisers People Straight Talk

Communications Crossroads - Fall 2007

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