With a purchasing power of $1.5 trillion and an expected population of 130 million by 2030, Hispanics continue to be among the top target audiences for brands. They’re a monumental force on social media, too. With more than 31 million Hispanics on Facebook, 18 million on Twitter, and 11 million on Instagram, it’s an audience that cannot be ignored.
With an uptick in Hispanics on social, brand strategies will shift to a social-first approach, allowing brands to connect with Hispanic consumers directly and driving objectives – from top-tier press coverage to developing positive brand reputation by aligning with stakeholders who are influencing purchasing decisions on these platforms.
Here are some trends brands should keep an eye on.
Social listening to build brand advocacy: There are thousands of conversations happening in Spanish and Spanglish on social media at this moment. Brands are keeping track of conversations, influencers, and trends and identifying opportunities to engage beyond the content on their own platforms to build brand advocates and drive positive brand sentiment.
Social listening is especially relevant with digital influencers who may mention your brand and have a robust following. With Escucha®, Boden’s social listening platform, we listen to more than 3,000 top Hispanic influencers daily to identify those key moments for brands.
Social listening can also help brands stay abreast of potential risks or rising crises. It serves to better understand target audiences and build strategies that address their needs.
We’re live: Livestreaming has shifted video creation and consumption on social media. Users seek raw, authentic content that’s in the moment. The proof is in the numbers: On Facebook alone, people spend three times longer watching live video compared to a prerecorded video, and Hispanics specifically over-index on video consumption.
Brands and publishers are taking note of the growth of livestreaming. If you can’t livestream on your own platforms, brands are livestreaming in partnership with media outlets’ live platforms. If it’s not live, it’s old news.
Micro-storytelling with "stories": Snapchat and Instagram’s daily users tell their daily "stories" in bits – from quick photos to 10-second mini videos – that disappear after 24 hours. Stories are in the moment, a play on livestreaming that’s not quite "live" but is real-time. On Snapchat alone, users are generating more than 10 billion views per day, a 350% increase in 2016.
Both platforms also offer advertising opportunities on Stories, which can help drive app installs and website traffic. 2017 will see the growth of these branded stories, both directly from brands and their influencer partners.
Influencer marketing: Hispanic influencers continue to be a sought-after and relevant connection to consumers.
Whether it’s bloggers or TV personalities, social influencers understand their audiences best, allowing them to communicate brand messages in a way that is creative and authentic. Their social communities are also akin to online families.
In unique ways, influencer marketing can serve to generate traditional media coverage as well. For example, brands can partner with an influencer to host an intimate press event or to serve as a subject matter expert for media interviews.
Brands will continue to find these innovative ways to elevate influencer marketing in 2017 across social and traditional media.
Rethinking diversity: Diversity is not just about ethnicity, it is also about culture – the passion points and values of our society. In 2017, we will see brands rethink their plans to include strategies across platforms that speak to their target consumers, including Hispanics, in a much more inclusive way.
As brands continue to make inroads with the Hispanic segment, these trends will keep them ahead of the curb. With their growing purchasing power and social influence, the opportunity to develop measurable campaigns that build reputation, advocacy, and drive sales with Hispanics will be enormous in 2017.