How to Adjust B2B Marketing to Reach Hispanic Owned Businesses
Hispanic small business owners are the fastest-growing group of entrepreneurs in the US, and Latino-owned businesses contribute $500 billion annually to the US economy. That’s all the more reason for B2B enterprises to keep an eye out and make sure their businesses are attention-grabbing for these powerful, tech-savvy business buyers.
At TRIBU, we work with Latinx and Hispanic B2B service companies wanting to capture US audiences as well as those US companies wanting to serve the US Hispanic market, all hungry to learn more in terms of digital marketing strategy.
To tap into the tremendous Hispanic and Latinx demographic, besides offering content in Spanish, comprehensive B2B marketing strategies are needed. Here’s what to look out for.
Focus on Latina Owned Businesses
In 2018, Hispanic entrepreneurs were 76% male, according to Guidant Financial’s survey of small business owners. However, Latina and Hispanic women represent 31% of all net new women-owned businesses – nearly double their share of the US female population. Marketers should take advantage of this opportunity and hone in on the growing number of female Hispanic entrepreneurs with lucrative businesses.
There’s no marketing tool specifically used to target Hispanic businesses, but this growing demographic will possess similar attributes. For example, there’s a tendency for women, especially from culturally diverse populations, to create socially responsible companies.
They often reject the idea that business values are separate from personal values, and instead balance profits with social good and environmental sustainability, bringing attention to hiring and retaining employees too.
You can work out your target audiences’ gender, geolocation, and interests with research tools such as Facebook Audience Insights, Google Ads Keyword Planner, or SEMrush.
With all that information, you can target a specific audience with keywords over social media paid ads where pay-by-click and keyword bids are less expensive in the Spanish-language B2B marketplace due to less competition.
The ads must use a language of diversity and inclusion to show support, acknowledge Hispanic businesses’ primary concerns, such as access to capital, and recognize they are minority-owned. Check out AT&T’s campaign called #BetweenTwoWorlds focussed on the lives of acculturated millennial Hispanics.
Targeting Hispanics With a CRM
Are you using excel to log and build audiences? Stop right there. Invest in Hubspot or Microsoft Dynamics to connect leads generated to campaigns, for example through an email marketing function.
You may have heard the phrase: “if it wasn’t logged in Salesforce, it never happened.” So, if you are actually serious about defining your ideal Hispanic audience, creating subsets of those customer populations, and targeting them with tailored messaging, storing information in a CRM is paramount. The US Hispanic business environment is heavily relationship-based, and a CRM ensures reliability and centralized intelligence, so no customer information can be lost.
You’ll be able to follow your target entrepreneurs’ stage in the customer journey, their preferences, job titles, and even job seniority. Each user experience can be personalized to each subset which means you could trial campaigns with different messaging and see which gets greater traction.
Trailblazing Hispanics and Social Media
78% of Hispanic entrepreneurs use social media for marketing their businesses. So, if you want to stay competitive in the B2B niche, you’ll have to invest time into promotional activities, leverage digital tools, and present products and services on social media in Spanish. For that, you’ll need a bilingual marketing consultancy like TRIBU.
It’s a myth that B2B companies don’t use social media for brand awareness – and what’s more, they should be. LinkedIn is the top B2B platform but everyone has a personal life and will be present on notorious B2C channels like Facebook, Instagram, and Whatsapp, independent of where they work.
Trust, reach, and engagement have always been challenges for B2B brands but B2B influencer marketing could be the answer, especially as Hispanic businesses are so active online. Influencer identification can be tricky but Cision, among others, can examine the relative social influence of everyone who follows your brand across social media. You could analyze existing business partners for advocacy and influence in the Hispanic community too.
With these three tips you can build long-lasting, sustainable B2B marketing strategies for serving Hispanics that could make your business flourish. TRIBU is in a prime position to offer a complete marketing service to clients that need to have a presence in and understanding of both Hispanic and US markets in a range of industries including recruitment, transportation, and real estate.
TRIBU also has a robust framework to help B2B Hispanic businesses, startups, and entrepreneurs accelerate their digital innovation. Check out our blog about growth hacking for Hispanic-owned businesses!