Consumer goods companies, such as Kraft Foods, and real estate developers are also cashing in on the trend, though experts said simply having a proposition made for and by Latinos doesn't guarantee growth. Marketing to the group, experts have found, takes extra attention—and sometimes outside strategists—to help brands communicate effectively with the culture.
"It's not as easy as translating English to Spanish. The message has to be culturally relevant," said Bill Sussman, chief executive officer of Collective Bias, which publishes user-generated content for brands' advertising campaigns.
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Sussman said his firm has found success in marketing to U.S. Latinos on campaigns for Tyson Foods, Walgreen and Kraft Foods, among others, because the message from its network of social bloggers taps into the group's heritage and culture. It uses unique and organic content that Sussman said speaks directly to the needs and traditions of the targeted group, starting with food and family.
A recent campaign for Kraft macaroni and cheese around the World Cup soccer games, for example, focused on making the meal your own by adding traditional ingredients to the food, such as chorizo.
"Retailers need to be more targeted and more innovative in the messages they're sending to particular targets. It can't just be a TV spot for the general market or an in-store circular to drive traffic. Those channels aren't nearly as effective," Sussman said. "Through digital and social media we have the ability now to be more targeted and segmented in the messages we use."