Toti Cadavid of Xcelente Marketing presented to the Apartment Internet Marketing Conference 2009 (www.aimconf.com) on the topic "Marketing to Hispanic Renters Online." Session was moderated by Dennis Smillie of Multifamily Solutions, Inc.
3. Why is the Hispanic market important? Because of the Latino Demographics in the U.S.: "There are between 45 and 55 million Latinos in the U.S. When you think about that, that's the size of the population of Spain. It's a big market!“ Brad Alford, Chairman and CEO of Nestle USA
4. Because the Latino Population is growing at higher rates: Why is the Hispanic market important?
5. Sources: U.S. Census Bureau, 1970, 1980, 1990, and 2000 Decennial Censuses; Population Projections, July 1, 2010 to July 1, 2050 Population in millions Why is the Hispanic market important? Because it is going to keep growing: Projections Census Hispanics have accounted for more than half (50.5%) of the overall population growth in the United States in this decade, a significant new demographic milestone for the nation's largest minority group. Hispanic Population Forecast in US: 1980- 2020
6. Why is the Hispanic market important? Because we know where they prefer to live: Source: Arbitron Universe Estimates / PEW: The New Latino South
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8. Why is the Hispanic market important? Because the Hispanic market’s buying power keeps increasing: Median White Household Income $38,679 Median Hispanic Household Income Sources: The Hispanic Market in the U.S: A Generational View/ USA Census Bureau Income Poverty in the USA 2007, Economic and Statistics Administration $980 Billion $54,920 Hispanic Income Buying Power Hispanic income as % of the U.S. income Average
9. Because the foreclosure rate is higher on main Hispanic markets: Why is the Hispanic market important? Percent of housing units under foreclosure 2008 Source: Foreclousure.com; US Census Bureau 2000, map by Jeff Herlitz NV CO NM CA FL IL UT ID
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11. Why is the Hispanic market important? Because Latinos are Ideal Renters: (Cont) Hispanics exhibit a high degree of brand loyalty . They stick with familiar products and need compelling reasons to justify making a change . Sources: CasaLatino.com Brand Loyalty Among Consumer Groups
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15. Characteristics of your Latino Renters: Segmentation Proposed Approach Traditional Acculturated / Bicultural Assimilated Culturally Unique 25% of Population 66% of Population 9% of Population Part of B & C 0-10 years in U.S. 10+ years in U.S, or born in USA 2 nd and 3 rd generation 2 nd , 3 rd , 4 th , generations Spanish Spanish / English English/Spanish English Full Latinos Bi-cultural Anglo culture stronger, emotional attachment to Latin culture Anglo with strong Latin roots Blue Collar Blue Collar / Grey Collar/White Collar Grey Collar / White Collar Neuyoricans
16. Characteristics of your Latino Renters: Marketing to New Hispanic Tier Renters Target Segment A Target Segment B Target Segment C Low Income Spanish Speaking - Foreign Latinos Low Income English Speaking US Latinos Medium Income Fully Bilingual US/Foreign Latinos Income 50K or less 50K or less 50K or plus Age 22- 57 17-27 27 - 37 Country of Origin Mostly Mexicans, Salvadorians, Guatemalans, Dominicans, Hondurans, Ecuadorians and Peruvians Mostly descendants of Mexicans, Dominicans, Puerto Ricans, Guatemalans, Nicaraguans, Colombians Mostly Cubans, Puerto Ricans Venezuelans, Colombians, Argentineans, Panamanians Language Spanish Spanish / English English / Spanish Education Less Educated Some Education Young Professionals Acculturation Not fully Acculturated Fully Acculturated Not Fully Acculturated Assimilation Low Fully Medium to High Internet Not Internet Savvy Internet Basics Very Internet Savvy
17. = Tier 1 = Tier 2 = Tier 3 Characteristics of your Latino Renters: Tier Distribution
18. Characteristics of your Latino Renters: Center for Housing Studies of Harvard University found that: Sources: The Joint Center For Housing Studies of Harvard University 2005
19. Characteristics of your Latino Renters: Find out what is the background of your Latino renter? Nationality/Descendants Language Proficiency Language of Preference Segmentation Acculturation Level Income Level
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23. How do you market to Latinos online? Sources: PEW Latinos Online 2007 56% of US Hispanics are Online Online Hispanics Age Distribution Online Hispanics Income Discover the profile of the Hispanic segments that are online:
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25. How do you market to Latinos online? Online Hispanics by Country of Origin Sources: PEW Latinos Online 2007 Discover the profile of the Hispanic segments that are online:
26. How do you market to Latinos online? Sources: Engage Hispanics: Social Media Marketing Is A Multicultural World Discover the profile of the Hispanic segments that are online:
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32. How do you market to Latinos online? Where to advertise online:
33. How do you market to Latinos online? Popular Social Online Networking Sites:
Thank you Dennis. It is so exciting to be here today and welcome you to our great city. I hope many of you get a chance to stay through the weekend and experience all the wonders this city and state has to offer, I promise you will fall in love with it like I and several other millions of people have. Before we begin with today’s presentation allow me to thank our moderator Dennis Smiley as well as Myriam Quinones, one of our team members from Xcelente, for their guidance and insights, and help with the development of what we think is a great presentation we have prepared for you today. We have a lot to cover, in a short period of time, but we really did not want to take any of this information off, so I will go a little fast , but will provide you with 15 minutes at the end for questions.