According to U.S. Department of Labor projections, Hispanic contractors will outnumber English-speaking contractors by the year 2025, representing an impressive 62 percent of the entire category1. Studies also show that, right now, Hispanics represent 50 percent of the professional market for hand tools in most categories2.
While all this is not exactly breaking news, it is important to note that — despite these numbers—few building product manufacturers target Hispanic contractors to the same degree they do English-speaking contractors.
What does this mean? Put simply, now is the time for building product marketers to join the ranks of virtually every other segment and make Hispanic marketing a part of their business plan. Here’s why:
It Builds Brand Loyalty
The sheer number of professional Hispanic contractors creates a significant opportunity for manufacturers to win over legions of new brand loyalists. This is a compelling growth strategy in a market where loyalty, once established, is difficult to reverse.
It Builds Business
Since the economic downturn, finding new customers and segments to generate leads has been a huge focus for marketers. The Hispanic contractor is a large and untapped area for growth, one that with a little marketing expertise, could yield great rewards. However, like any new marketing effort, it requires some level of investment.
Advertising in Spanish-language publications, both print and online, is typically less expensive than mainstream publications, giving you a bigger bang for your dollar. Additionally, by targeting specific regions of the country with a high density of Hispanic contractors, you can further improve your cost per lead and ultimately your ROI.
It Improves Your Reputation
Because few construction industry manufacturers create Hispanic-targeted messages, those who do can enhance the likelihood of being perceived as a brand that cares about their needs, and is willing to reach out to them in a way that makes them comfortable.
Clearly, targeting Hispanic contractors should be considered just one part of an integrated, insightful contractor marketing strategy.
1 Projection based on 2000 – 2008, Bureau of Labor Statistics data