Google recently surveyed more than 4,500 U.S. Hispanics ages 18-64 about their preferences related to online sources, digital ads and search. The study found U.S. Hispanics use online sources at a higher rate (54 percent) than the general population (46 percent) throughout the purchase journey. It also found:
How can credit unions and other organizations dedicated to serving the underserved Hispanic community meet them where they already are – online and on mobile? Below are a few examples of online and mobile resources being tapped by organizations to do just that.
Putting a twist on the GoFundMe model, PayPal just launched Money Pools, a service that lets people create pages to fundraise for a specific item or effort among family and friends. Could this become a digital tanda? Although the service is too new to have data on usage rates, the focus on family and friends could resonate among many within the Hispanic community.
Social Media Influencers
Connecting with Hispanic consumers online requires not only understanding where they are, but also how they want to be connected with. Google’s study found that including culturally relevant content – food, family and traditions – resonates with U.S. Hispanics online. Consider incorporating content that Hispanic members care about or that which is unique to the Hispanic experience. While not as important as culture, language also matters. For some U.S. Hispanic consumers, Spanish and bilingual content are signals you want to engage with them.Leave a comment
There’s no question social media is an important channel for engaging Hispanic consumers. According to recent research by Viant, nearly 50 percent of Hispanic shoppers reported they had either discussed a brand online with others or used a brand’s hashtag in social messaging (this compared to 17 percent of non-Hispanic shoppers).
Analyzing social media habits by channel, Viant said Hispanic Millennials are more active on Twitter and Instagram compared to non-Hispanic Millennials. However, the amount of time spent on Facebook is relatively similar between the two groups.
Another platform that should not be discounted is video. In its report How Hispanic Consumers Engage with YouTube, Google shares some interesting insights:
— 75 percent of Hispanics go to YouTube first when they want to learn more about a product or service by watching a video
— Nearly 1 in 2 Hispanic smartphone video viewers look for video content relevant to them as Hispanics and are more likely to watch ads that contain aspects of Hispanic culture
— Of U.S. Hispanics who visit YouTube at least once a month, 60 percent watch videos in English always/most of the time; 28 percent watch videos in English and Spanish equally; and 12 percent watch videos in Spanish always/most of the time.
— 83 percent of Hispanic video viewers will read or post comments, watch recommended videos or like or rate videos
BEST PRACTICE: To achieve the best results when engaging Hispanic consumer segments through YouTube and other social media channels, ensure the content is culturally relevant and language appropriate.
How One Credit Union is Engaging Members on YouTube
Ascentra Credit Union in Bettendorf, Iowa, is leveraging the power of YouTube to engage consumers through a video series called Ascentra Making Cents. New videos focused on financial topics like credit scores, the home buying process, spending plans, tax returns and the credit union difference, are available monthly on Ascentra’s YouTube channel.
The credit union is currently in the process of adding Spanish subtitles to the videos using funds it received from the 2017 Warren Morrow Hispanic Growth Fund Grant for Hispanic Outreach.
“This will give us some content in Spanish that we can share on social media to interact in a new way with current members, future members and any Spanish-speaking individuals worldwide,” said Alvaro Macias, Ascentra’s AVP of community development. “These videos will be shared with our community partners, such as Habitat for Humanity Quad Cities, Esperanza Legal Assistance Center and the Floreciente Neighborhood Association – a predominantly Hispanic neighborhood in Moline, Illinois, for them to share through their networks.”
Ascentra also has a highly successful Facebook page, with nearly 2,500 followers and frequently updated content focused on Ascentra’s community involvement, as well as product and service updates.Leave a comment
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