Storage facility owners along the Mexico border are making extra grand steps to reach out to a Hispanic market that is continually growing. They are getting a firm grasp on knowing their customer base and catering to its needs.
The U.S. Hispanic population totals 35 million, which is about 13 percent of the U.S. population. Census data shows Hispanics make up the fastest-growing population in the United States, particularly in states bordering Mexico. Most of the country’s Hispanic population falls along the Mexico border. Those who own and manage storage facilities need to keep in mind that cultural and linguistic influences are an essential part of a successful business strategy. Many facilities are hiring employees who speak Spanish in order to attract and keep clients.
Studies have shown that the Hispanic population prefers to use the Internet as a way of researching products and services online. If a storage facility has a well-presented, well-organized online presence, than there’s a higher chance of attracting a potential customer’s attention. However, studies also show Hispanics prefer to finalize sales in person rather than on the Internet. They are not always comfortable completing transactions on the Web. Hispanic customers are a powerful group to attract. Hispanics have a purchasing power exceeding $700 billion and account for 7 percent of all consumer revenue.
Statistics on the Internet are a revealing tool when tracking the purchasing practices of Hispanics. The ethnic group, according to a study by AOL Advertising and Cheskin in 2009, concluded Hispanics are more enthusiastic about the benefits of the Internet than the general public. They also have more confidence in online product ratings, 72 percent, than other groups who came in at 28 percent. And most importantly for the storage facility owner who likes to offer promotions, Hispanics will most likely find this appealing when presented on the Web. The same study found that 57 percent of Hispanics always went to the Internet to find deals, compared to 41 percent of the general public.
One possible reason Hispanics might not be closing deals online is the trust factor, said Carla Briceno, in an Inside Self-Storage article on the Web. She is cofounder of Bixal, a company that provides strategic communications and marketing for organizations targeting the online Hispanic market. Most Websites are not bilingual or they have machine-generated translations that are not effective. The best way to create a Website is to develop unique content that reflects their unique needs and interests. Then the content should be presented in a pleasing manner and written by someone fluent in Spanish.
Sources Used:
Sonora, Myrna. “The Power of Latino.” Hispanic Marketplace. 2010 http://www.yellowpageexperts.com/yellow_page_library/ISS_Power%20of%20Latino.pdf
“Trust is Key in Self-Storage Marketing to Growing Hispanic Market Segment.” Real Estate Pro Articles. Oct. 10, 2010.
“Online Self-Storage Marketing for the Growing Hispanic Market: Targeted Messages and Trust-Building Entice Tenents.” Inside Self-Storage. Sept. 29, 2010