Double your insurance prospects by targeting an emerging market

It is no secret to those insurance agencies that are already successfully selling to Hispanics that it is quickly becoming profitable and lucrative to target this market. New data is available that supports the purchasing power and growth of this group. So why, then, are not all agencies successful in marketing to this ever-evolving Hispanic population?

Here are 5 key tips to know when marketing insurance products to Hispanics.

#1 Know your target audience.

There are very specific groups within the Hispanic population, and each one is very dynamic with one another. There are cultural differences, language differences, even generational differences. And you need to decide what your main focus will be. The only good thing about insurance; Although it is universal, meaning that anyone, anywhere can buy or sell it, people will only travel so far for the services it offers. Therefore, determining your niche within the Hispanic culture will be a little easier when you look at the local demographics. Are you in Miami, San Diego or Corpus Christi, for example, where there are strong cultural influences? Or are you in places like Orlando, Chicago or San Francisco where the Hispanic generation (ie 1st, 2nd or 3rd generation) plays a bigger role in the culture? What the independent agent has as an advantage over larger corporate agencies is the ability to tailor their practice specifically to the dominant Hispanic culture in their area.

#2 Use images that represent the Hispanic person you are targeting.

Again, this involves knowing your target audience within the Hispanic community. In your cities with less cultural influence, the generation of the person you are targeting becomes important. Someone who was born and raised in Mexico or Puerto Rico, for example, will not be as subject to the “American way of life” as someone who was born and raised with Americanized ideals. His second and third generation Hispanics are increasingly blending into the images of today’s American standards. Although they are still heavily influenced by “family” and “family images,” they are also influenced by images of personal growth and wealth.

Hispanics with more cultural influence in places like Miami or Houston do better with images related to their specific cultures. Not only providing for their immediate families, but their extended ones as well. Showing images that do not include older and younger people together will not appeal to these heavily culturally dominated areas. This doesn’t mean you should include hats or cigars in your advertising campaigns, however, vibrant colors and images of modest homes and families have proven successful.

#3 Accurate translations.

The best advice anyone can give when marketing to Hispanics, regardless of your target audience, is to NEVER use jargon. If a Dominican, for example, is deep in conversation with another Dominican, then the use of jargon may be appropriate. But it has no place in print or online marketing. A slang phrase in one culture may be completely offensive to another and may cause more harm than good.

Also, if you are going to offer translated services and documents, make sure they are prepared and translated by a professional; someone who knows the language formally. Translation is not simply exchanging Spanish words for English words, as it is necessary to change the entire format and structure of the sentence to make sense.

#4 Offer bilingual services.

Attending only to Spanish is as profitable as it is prohibitive to attend only to English. To truly expand in both markets, you must offer services in both languages. Recognize that differences exist not only from culture to culture, but also from family member to family member. Parents’ preferred language may be Spanish, and they will be more attracted to and comfortable with Spanish terminology and forms. Your son or daughter, having been educated and raised in the United States; you may be more attracted to the services you have described in English. However, since you took the time to address their parents’ language barrier, you will gain the loyalty of both of them.

This step may also include expanding your staff. Whether you advertise your services in print or online, you will ultimately need someone to pick up the phone and communicate with anyone who calls. Having at least one person on your staff, who can communicate effectively in both English and Spanish, will only further differentiate you from the competition within your community.

#5 Connect your agency in both languages.

This is different from simply offering bilingual services. For this, you will actually be advertising your insurance agency using the networks in English and Spanish. Print advertising is the easiest to explain, simply provide your brochures and flyers in both languages.

Effectively marketing a website is more complicated. Make sure the person you choose to optimize your website provides SEO (search engine optimization) in both English and Spanish. Finally, that the titles of the pages and the meta tags are also written in both languages.

Being successful with a specific market can be easier. But branching out to a multicultural agency could ultimately double your profits. Knowledge is the key element when marketing to Hispanics in your local area. The more you know, the more you will stand out as the trusted and respected advisor.