SAN FRANCISCO: Visa USA has launched an educational marketing campaign aimed at young Hispanics who predominantly use cash.
The national campaign will focus on the convenience and security of using Visa-branded products instead of cash, said Elyssa Gray, VP of advertising.
The PR component will target Spanish-language media. It will also develop "financial wellness columns" and custom publications, added Michael Rolnick, director of corporate relations.
The target audience is foreign-born Hispanics who are between the ages of 18 and 34, and who have been in the US for less than five years, said Virginia Sanchez, director of PR with Houston-based Lopez Negrete Communications. She added that this demographic relies heavily on cash instead of other payment methods.
"They also want to improve their quality of life," explained Sanchez. "We wanted to educate this segment about the banking industry and Visa's role as a safe and convenient alternative to cash."
The media will play a crucial role in this campaign, said Sanchez, as research shows that the Hispanic community trusts news sources, as well as word-of-mouth endorsements.
The catalyst for the campaign was the growth of the Hispanic community and its vast buying power, said Gray.
The 2000 Census listed that 12.5% of the US population is Hispanic.