Good Stuff Happens in 1:1 Meetings: Why you need them and how to do them well
Significant trends in marketing insurance to the Hispanic Market
1. Trends in Marketing Insurance to the Hispanic Market
If you want to maximize your market potential and establish brand in the Hispanic
community, it is important that you spend time analyzing the trends and patterns
in that specific market. By examining practices that are being done by major
insurance companies, you will get an idea of those which may be overused by
now and which will most likely grant you success. In addition, it will help you gain
insights on where the insurance industry is currently headed with the Hispanic
market.
Spanish-Language Website
This is one of the most common marketing trends practiced by insurance agents,
brokers and especially companies. Many, if not all, insurance websites today
have an "Es Español" option which, when chosen, will publish information only in
the Spanish language. Although it has been revealed that 58% of Spanish-
speaking Latinos can speak English very well, having a Spanish-language
website is still rendered important to cater to non-English-speaking Latinos.
Mobile Engagement: Websites Designed for Mobile Compatibility
Hispanic consumers today, who account for more or less 15% of the entire US
population, represent an ideal audience for mobile engagement and website
advertising. According to estimates released by the Experian Marketing Services,
63% of Hispanic adults have smartphones and that 45% of them use
smartphones to access the internet. With this fact, insurance marketers are
encouraged to take the mobile-first approach in their online marketing efforts.
Native Advertising and Content Marketing
2. Today, content does not just mean magazine articles. It can also mean blog
posts, videos and even mobile apps. With more and more Hispanics engaging
online, 78% according to the Pew Hispanic Center survey, it is important for
insurance companies to be able to create content that will capture consumer
attention, ultimately getting them to actually purchase a product. Although there
still aren't that many companies producing Latin content for advertisers to use,
the approach is expected to dominate in the coming years.
Community Involvement and Event Sponsorships
Almost all major insurance providers are involved in the Hispanic community in
some way. Whether it's partnership with a Hispanic organization, a sponsorship
in several community events or an initiative within the community, any major
insurance company heavily targeting Hispanics is bound to engage.
Involvement is especially important in the Hispanic market because here, word-
of-mouth and grassroots marketing techniques prove to be extremely effective.
Although building partnerships and participating in events will not always yield
immediate results, they will ensure that the company's name will remain in the
minds of the Hispanic consumers. As a brand builds relationships in the
community, it will become more visible and ultimately grow to be part of the
environment.
Traditional Media
As to be expected, majority of television, print and radio advertising targeting the
Hispanic market is delivered through known Hispanic media outlets. With the
increasing media consumption patterns of Hispanics, it makes sense for major
insurance companies to continue delving into traditional media. Although the
Internet will still continue to fuel crossmedia consumption, no major change away
from traditional media is to be expected in the coming years.
3. Changes in the Hispanic market are guaranteed to dictate changes in tactics.
Perhaps, in the near future, we will start seeing brands and insurance companies
play off the growth of mobile interaction and combine them with offline tactics to
realize more effectively their marketing goals and campaigns.