Most of the U.S – based car dealers are looking for ways of attracting the Hispanic buyers. Some companies such as Ford are spending a significant amount of resources to gain market share with Hispanics. This group spends approximately $16.2 billion dollars on new car purchases every year. More interesting is the fact that these Hispanics have larger families and hence more needs
Most of the time, the Hispanics prefer dealer financing and are less likely to have revolving debts. The results of the 2010 US census and the re-election of President Barack Obama in 2012 pushed many brands into thinking about ways of tapping into this market segment. So, what are some of the strategies an auto dealer can use to tap into this market segment? We analyze the top three Hispanic marketing strategies.
Use Trust and Value to Connect with the Hispanics
The most effective way of reaching out to Hispanics is through gaining their trust so that they see the value in you and your products. Do not ignore the aspect of language. Many dealers tend to assume that since most Hispanics speak fluent English, there is no need to communicate with them in Spanish. On the contrary, Hispanics tend to connect fast with marketers who approach them in Spanish. It is the language they feel more comfortable with especially when negotiating a big deal.
Do not be Over Educative
Hispanic marketing does not require you to play the teacher role. Keep in mind that before they walk into your store, Hispanics have already conducted an adequate research. They have searched the Internet, talked to their friends and family, and they know exactly what they want. Being bilingual becomes crucial since you will need to connect with them at a personal level to meet their needs.
Struggle to Make a Memorable Experience
Remember that before they walk into your store, Hispanics have been working hard and saving for their dream car. Purchasing a vehicle is an important milestone which is highly celebrated in the Hispanic culture, so do not be that person who will spoil their big moment.
As a matter of gaining in-depth penetration in Hispanic marketing, make them feel welcome. Talk to them in Spanish. Present them with brochures written in Spanish. Do not be surprised if one Hispanic shows up with the whole family when they come to purchase their first car.