This is another business area which is experiencing a booming in the United States.

Growth in the Latino population translates into growth of the industry specialized in this area: it’s an unstoppable trend.

The economic strength of Hispanics is generating a growth in the number of advertising agencies focused on this sector. This goes hand in hand with an increased interest from U.S. advertisers to aim part of their budgets to Latino ad campaigns.

As discussed in this article, written in Spanish, in 2004 the U.S. spent $ 3.091 million on advertisements targeted toward the Hispanic market. This represents a 10.8% increase over 2003, when the total reached 2.790 million, according to figures published by AdAge in its special edition: Hispanic Fact Pack.

Buffagni Paul, president of the Circle Makers of the U.S. Hispanic Market and creative director of the agency Conill & Saatchi (Los Angeles) believes that this success is due to “market growth and purchasing power.”

According to data from the Census Bureau, there are 41.3 million Hispanics currently living in the United States, all of whom are potential customers and are part of the fastest growing minority in this country, who have a purchasing power estimated at 600.000 billion.

Houston, San Antonio, New York, Miami and Los Angeles are the main cities chosen by the Hispanic advertising agencies to open their offices. They have done so both independently and as partnering with some of the big global advertising networks.

Another big market is Miami, where 11 of its advertising agencies are considered to be among the top 50 in the United States.

Digital Advertising Online

Online advertising is another large and fast growing industry in the advertising field.

“The growth comes at the expense of the agencies that target the main stream market”, says the newspaper La Flecha.

Online Digital Hispanic advertising increasingly appeals to Latino agencies. Although advertising agencies in the United States still control half of the turnover, the main stream market faces a tougher competition from Hispanic agencies, which meet the needs of advertisers who want to connect with that segment of the population.

The growing demand of Hispanic services is helping create new Hispanic digital agencies, as well as the creation of digital departments in existing agencies.

The Hispanic population is a consumer segment that is growing faster than any other minority group in the United States. Already many businesses are starting to implement new approaches and strategies to target Hispanics.

The assimilation of generations and diverse countries of origin within U.S. Hispanics has created a complex culture. There are many factors that make the Hispanic consumers unique: historical, contextual, cultural, demographic, and financial.

Direct translations and general market strategies tend to miss emotional and culturally relevant elements. This is where translation vs. trancreation comes in.

For example, in the marketing industry the language used in a transcreation should have a similar impact on the target audience. For this reason, marketers cannot simply transfer directly to the Hispanic market an idea, product or a service that works with the general market.

For more information go to Hispanic Market Research Services and Spanish Website Translation