How mobile and online is the Hispanic Consumer? Nielsen conducted a recent survey and concluded that Hispanics are Super Consumers of mobile and mobile shopping. Increasingly, the sales path to the Hispanic consumer is through their smart phone.
Research points to Super Consumers having the potential of driving 30% of sales, 40% of growth and 50% of profits for a business. This opportunity is not just for high tech or fashion products. 50% of Hispanics say they have purchased grocery items online compared to only 40% of the general U.S. population. Every business needs to recognize that the Hispanic consumer is more likely to visit their store via a smart phone and that they will use social media to access a business before shopping.
Why is this important? Because Hispanic now represent a $1.5 trillion consumer market segment. This is a customer that no business can afford to ignore.
Winning the Hispanic consumer’s trust
In addition to being high users of mobile and social media, the Hispanic consumer is also highly sensitized to environmental and human health issues. 85% of Hispanics believe it is extremely important or very important to reduce smog and air pollution. Their high degree of sensitivity is reenforced by research on children health that found children five years and younger are most at risk to pollution health impacts including premature death.
86% of Hispanics support increased water conservation and 84% say the U.S. should mandate more solar electricity and wind power (the key word is “mandate”). Unique among America’s demographic populations the Hispanic community’s strong support for conservation and renewable energy comes from their family heritage where their parents and grandparents lived lives based on wise use of resources like water and energy. Conservation is not only a response to environmental concerns, it is a path for Hispanics to honor their parents and grandparents.
Compare these strongly held beliefs on pollution and conservation to your company’s communications and business commitment. A business commitment, and the communication of that commitment, in the areas of environmental and human health leadership is a trust building opportunity with the Hispanic consumer. Yes, they are highly focused on finding competitive prices for their product purchases just like all Americans. But they also seek to do business with businesses that align with their strong family heritage for preserving the environment and protecting the health of their children. It is through this type alignment with the Hispanic consumer that a business can win their trust.
Authenticity is the key step to winning trust
Trust is not something achieved through corporate social responsibility reports. Trust is a genuine human connection that is built on the authenticity of actions. This is a huge business opportunity for every smaller businesses.
People trust people. Rarely do they trust corporations. Smaller business owners have a competitive advantage by being closer to their customers. This opportunity is realized by taking concrete actions, ideally in partnership with the customer.
Engagement is now the marketing path to the customer. It is enabled through social media like Facebook. Every business needs a customer engagement strategy. Today, it is not what you advertise that wins customers (unless it is a phenomenal price discount…we all can still be bought). What wins a customer is what other customers and your work associates are saying about your products, service, prices and commitment to improving environmental and human health.
Authenticity is the key to successful customer engagement. If your business talks about caring but only gives money to charities then that is not engagement. That is philanthropy.
Engagement moves your customers to post on their social media. It is their heart-felt reaction to your business behavior. Are they impressed, or disgusted, with your service? Are your prices too high? Are you taking real actions to make a difference on their key issues of air pollution and conservation of resources?
Two proven ways to make money and built customer trust
The absolutely great news is that your business can cut costs by taking actions to reduce air pollution and conserve resources like water and energy. Two proven action paths are 1)to enact a waste management systems through your local waste management company and 2)install solar power. Both of these actions will reduce your costs.
Most of the big corporations like Dupont, Walmart and GM are earning hundreds of millions annually through their waste management programs that reduce costs and allow for the recapture of valuable commodities that were once shipped to a land fill. Solar, in those states where utilities allow net metering, is now as cheap or cheaper than utility supplied electricity. Plus investing in solar protects your business from future utility rate increases. Again, all the big corporations are now heavily investing in onsite solar power. My local Walmart just installed a parking lot structure with solar panels that provides the store with solar energy plus shading of their customer’s cars. That solar system is more powerful than all of Walmart’s advertising in terms of communicating to their customers their commitment to them.
I chose these two examples because they also enable customer engagement. Two of the top ways a customer evaluates a business’ authenticity is if they have a recycling bin by their front door and solar on their roof. The business choice could not be more obvious. You could spend a lot of advertising money telling people how authentic your business is. Or you can MAKE MONEY through reducing your costs with a waste management system and installing solar power.
The bottom line for every business is to build an emotional connection with your Super Consumers. A proven key best practice is to align with them over their concerns regarding the environment and human health. That is how a business builds customer trust. That is how it grows sales. It is proven to reduce costs. That is the Green Economic Revolution.
About the author
Bill Roth is the founder of Earth 2017, a website that explores the health, sustainability, demographic and technology mega trends that are shaping the 21st Century. COMING SOON! His new book, The Boomer Generation Diet. “Weight gain is a health crisis threatening all generations but most especially my boomer generation. This is my personal story on how I have lost 30 pounds and kept it off. The Boomer Generation Diet profiles my best practices that you can use to customize your own path to sustained weight loss while still having fun and living more+.”