One of the most frequently asked questions we hear from real estate professionals is “Which advertising mediums work best for reaching the Hispanic consumer and which one yields the most return?”

Well, here are a few facts to consider how real estate marketing dollars are spent:

• Our industry spent a whopping $11.4 billion in 2005 on real estate advertising according to the National Association of Realtors®.
• The lion’s share of these marketing dollars were spent on traditional mediums
  like newspapers, homes magazines, and direct mail and directories.

Marketers attempting to meet the needs of the Hispanic community should keep in mind the role language plays in establishing trust and motivating purchase intent.

For example, Spanish is a way of life for Hispanics and a large percentage of Hispanic consumers currently speak Spanish at home and Hispanics are “more inclined to purchase” brands which advertise in Spanish.

Advertising in Spanish is far more effective among Hispanics.  Spanish language commercials (as compared to English language commercials) are:

• 61percent more effective at increasing awareness!
• 57 percent more effective in message comprehension!
• Nearly 4.5 times more persuasive!

Television

Hispanics watch approximately 25.9 hours per week of television, and it is the most widely used ad medium. A study conducted by Cheskin (a market research and consulting firm) found that Spanish language exposure was slightly higher than English language television with some variation between genders.

The study found that Hispanics make a special effort to watch television in Spanish.  Hispanics are also watching a large amount of English television given the dozens of English language channels available.

Given the collective approach to decision making in the Hispanic household, different members of the family will influence many consumer decisions so consider advertising in both Spanish and English television when attempting to reach the Hispanic consumer.  Since nearly 50 percent of the Hispanic population is under 18 years of age, kids will influence many of the decisions made in a Hispanic household.

Radio

Radio is an excellent, local medium for reaching Spanish speakers, depending on the objectives of your initiative.  It can serve as a more intimate complement to wider campaigns as well as give attention to other local grassroots advertising. 

If used properly, it can stimulate the homebuyer’s imagination.  It should be used in an integrated communication plan in which the different “brand touch points” (the different ways that a brand interacts and makes an impression on a consumer) are included.

Successful use of radio engages the imagination of the consumer with story telling that sparks creative thoughts.  Consumers remember engaging stories.  If these stories have strong “brand relevance,” radio can be more powerful than any other advertising medium.

Print

Be aware of the limitations of print advertising in reaching the Hispanic market.  Tailor content to the reading levels of your target audience.  Be mindful of newspapers and magazines that are actually relevant to the cultural needs of Hispanics.

Many Hispanics in the U.S. can trace their roots to humble backgrounds in Latin America and access to formal education before coming to the U.S. was limited.  Many do not have the opportunity to rehearse their literacy skills.

In the Cheskin study, Hispanics were found to have read newspapers two or three times a week and English language publications were favored to some extent over Spanish language options.

Distribution has been another major obstacle to readership.  It is sometimes very difficult to find Hispanic or Spanish language magazines or newspapers in major outlets, with the exception of stores in areas of high Hispanic concentration.

In spite of all these challenges, marketers should start to invest in print.  The more interesting and appealing print outlets there are, the more Hispanics will pay attention to them.

Remember that the Hispanic culture is more oral than literate and that your print investment may take longer to generate a return.

The Internet

Children and young adults account for nearly half of the Hispanic population. The next generation- “The children of immigrants.”

• Are avid media consumers
• Comfortable with computers, and
• Connected to the Internet

The Internet, as an empowering technology, shows great promise in expanding potential of marketers to establish relationships with Hispanic consumers.

The Internet is achieving wide usage among the Hispanic market with more than half of Hispanics shopping online.

Internet usage among Hispanics is expected to jump 6.7 percent in 2006 after a 6 percent rise in 2005.

The Internet makes the need to assimilate much less pressing than ever before with biculturalism being the most likely Hispanic trend.  Hispanics can increasingly navigate between the two cultures and behave in a way relevant to them.

Past and Future

In the past, the process for reaching the Hispanic homebuyer was often limited to one-dimensional efforts such as the literal translations of general market campaigns.

Today, organizations are developing new products designed specifically to meet the needs of this new America.  Companies are creating separate multicultural departments, allocating marketing budget by segment, and more importantly, setting measurable goals for each segment.