5 Facts You Need to Know About Marketing to Latino Millennials

1.Hispanic Millennials Have More Buying Power Than You May Think 

Who is a Millennial? 

Anyone born between the 1980s and the mid 1990s is a Millennial.  Millennials are widely known for being social media obsessed, and for being a generation dedicated to their values, especially when it comes to social issues. While the stereotype of the broke Millennial who moved back in with their parents is commonly portrayed, it isn’t very accurate. For a more in-depth look at terms like “Millennial” and “Gen Z,” check out our glossary.

Because Millennials are currently in their mid to late 20s and 30s, they’re currently approaching their peak earning years and making up a huge portion of the American workforce. From buying homes, starting their own businesses, having families, and advancing their careers, Millennials are a key demographic to look out for when promoting your products or services. 

Inaccurate stereotypes about U.S. Hispanics are also unfortunately common, with many people mistakenly assuming that this group is too small to consider and has a limited earning potential - which has resulted in Hispanic marketing being an afterthought for many brands and businesses. 

Contrary to these beliefs:

• Latina women are one of the fastest-growing segments among the U.S. population and will represent more than 20% of U.S. women by 2024. 
• They are also responsible for more than a trillion dollars of household spend, yet less than 3.6% of U.S. ad spending is invested on them. 

It’s not that this population lacks the funds to buy, but the other way around - advertising spending significantly undervalues investing in ads that will reach Latinos effectively. 

Check out our previous post about the eight most common misconceptions about Latinos and marketing to Latino millennials, and see how you can use digital marketing to create meaningful connections with them. 

2. Language Matters, but it Isn’t One-size-fits-all

While it’s true that Latino immigrants are a declining share of the overall Latino population in the U.S., many Latino Millennials still value the Spanish language as a cultural connector. For instance, 57% of Hispanics believe that the Spanish language is more important to them today than it was just five years ago. 

Opposite to what many people assume, young Hispanic Americans are becoming more interested in the Spanish language - with 62% of Millennial Hispanics reporting a higher interest in the language.

Rather than think of the Hispanic population as being either entirely assimilated to American culture or to the culture of their family, it’s more accurate to recognize the nuances of U.S. Latinos across the country and their increasingly bicultural preferences.

For instance, running an campaign targeting Latino Millennials in only English or only Spanish will vary widely depending on factors like their geographical location, assimilation level, fluency, household income, and more. In some cases, using Spanglish can be preferred for a more colloquial tone - but make sure to use it sparingly and only if you know what you’re doing, since it can come off as trying too hard if it isn’t done authentically. 

Multicultural marketing can be tricky to get right on your own, so why not make it easier on yourself? Contact one of our expert digital marketing consultants to learn more about our process and how you can get started.

3. When Reaching Latino Millennials, Digital is King

Across categories, Latinos are over indexing when it comes to digital use:

• 52% of Latinos spend 1+ hour each day on social media, compared to only 38% of non-Hispanic whites, and they share social content 5x more than members of the general market.
• 24% of Latinos spend 3+ hours each day on social media, compared to 13% for the general market. 
• According to a 2020 study, 85% of Latinos listen to digital audio content and 90% stream music. 
• The typical Latino Millennial is 66% more likely to connect online via their cell phone.

Given their staggering digital usage rates, reaching Latino audiences through mobile marketing is a perfect match. From watching videos on YouTube, connecting with family and friends on social media, and streaming their favorite audio content, mobile is a crucial medium for reaching Latinos. By generating interest and strong calls to action for audiences to participate, mobile marketing can successfully engage and convert for real business results. 

It’s safe to say that Covid-19 has heightened an already growing interest in video streaming services. This is especially true among the U.S. Hispanic community and the Millennial generation. With more time at home in recent months, streaming service subscriptions and usage are through the roof - making CTV/OTT (Connected TV/Over the Top) advertising an ideal method for reaching this audience. 

For a deep dive into the benefits of using video streaming to connect with Hispanic audiences, check out our earlier post  here. 

4. Inclusion Matters - Latino Consumers Notice When They Are and Aren’t Included 

Despite being a growing population, 78% of Hispanics say they don’t see brands trying to connect with them through advertising, and 75% of those consumers are willing to choose brands that make an effort over brands that don’t. That being said, being inclusive in your marketing strategy is not only better for building a more equitable business model, but for also growing your business. 

Reaching Hispanic audiences isn’t a piece of cake though, and trying to reach them with the same approach you use to reach the general market isn’t going to cut it. However, it’s worth taking the time to reach them the right way - recent studies have found that truly targeted Hispanic marketing efforts will generate 61% more effectiveness and 3 times greater purchase intent.

Aside from boosting your bottom line, multicultural marketing is important for plenty of other reasons. For a detailed look into the world of multicultural marketing and its impact, visit our post on the subject  here. 

5. Embracing Culture is Here to Stay as the U.S. Becomes Increasingly Multicultural

The U.S. is an immensely diverse country - and it’s projected to become even more diverse in the near future. According to a recent  Pew Research survey, Gen Z and Millennial populations are more likely than older generations to view a Black, Latino, and Asian majority as a good thing, and Millennials have become even more likely to hold this view compared with four years ago. 

Additionally, the survey also found that: 

• Black (46%), Asian (also 46%) and Hispanic adults (42%) are far more likely than White adults (14%) to say that the long-term growth in racial and ethnic diversity is a good thing for the country. 
• From 2016 to 2020, Hispanic adults have seen the biggest shift in optimism about an increasingly diverse country, from 23% then to 42% now. 
• Almost half (49%) of Hispanic Democrat individuals say that the prospect of a majority non-White nation is good for the country.

The impact of Covid-19 and recent racial tensions shining a light on disparities among racial groups has made cause marketing an increasingly favored marketing approach among young, conscious consumers.

 Millennial consumers in particular have strong beliefs surrounding social equality and are especially receptive to this form of advertising, so if you’re looking to reach Latino Millennials, it’s worth considering. 

How to Get Started with Digital Marketing

All in all, Latino Millennials are a core demographic group to reach as a part of your digital marketing strategy. From their increasing buying power to their staggering digital use, Latino Millennials are an ideal receptive audience. 

To learn more about getting started with Hispanic digital marketing, feel free to contact one of our expert digital marketing consultants or find a location near you. Want more info? Discover the services we offer or take a look at our client success stories.

General questions? We’ve got your back - no question is too big or small!