NEW YORK, NY — October 20, 2016
Latina media dynamo and women’s empowerment advocate Nely Galán, dubbed the “Tropical Tycoon” by The New York Times Magazine, speaks passionately about the greatest emerging market in the U.S.: Latina and other multi-cultural women—and how and why business owners should care about marketing to a diverse client base.
As anyone with a passing interest in demographics knows, the U.S. Hispanic population has long been characterized by its rapid growth to become the country’s largest ethnic group—55.3 MM people in 2014.
Between 2015 and 2050, U.S. Census Bureau projections show the Hispanic population is expected to grow by 86%. And, by 2060, the U.S. Hispanic population is projected to be 119 million—about 29% of the total U.S. (Pew Research Center, Statistical Portrait of Hispanics in the United States, U.S. Census Bureau.)
As big as those numbers are, the real meat in Galán’s message isn’t marveling at the size or growth rate of this group, but how to win over the hearts and wallets of its members by getting to know them.
Her advice for selling financial services to Latinas is pragmatic and useful.
Her Money is Under the Mattress
Many immigrant Latinas came from countries that don’t enjoy the financial stability we have in the U.S. How do you get them to hand over their hard-earned cash to a bank where no one looks like them or speaks their language?
Start there and learn how to make them welcome and comfortable.
Forget the Cha-Cha-Cha
Too much marketing targeted to Latinas condescends instead of providing solid financial advice using an authentic voice.
Make it real and make it useful.
It’s All Social
Latinas are avid social media users—and they want to engage with authentic content on the platforms important to them. As with other emerging markets, post, tag and hashtag on the platforms that put these potential customers front and center with your business every time you communicate.
Galán exclaims that the new mainstream is multi-cultural and we marketers—hell, everyone in business, politics, education, etc. who isn’t thinking multicultural 24 hours/day—should get wise quickly.
The shift has happened. Math doesn’t lie.