About 17 percent of the current US population identifies as Hispanic, making people of Hispanic origin the nation’s largest ethnic minority – and by 2060, the US is projected to be home to 128.8 million Hispanics, 31 percent of the population.The Hispanic community is a largely untapped market when it comes to Healthcare and Pharma Marketing, meaning there are huge opportunities for companies that appeal to this valuable consumer group.
According to the National Council of La Raza (NCLR), a national Hispanic civil rights and advocacy organization in the US, diabetes and obesity are prevalent within the Hispanic community, along with other chronic diseases such as heart disease, cancer, asthma, hypertension, arthritis, and liver disease.
Hispanics are searching for ways to improve their health and well-being and want the help of those who understand their community.
A PEW study found that 83 percent of Hispanics receive healthcare information from all media, including TV, radio, print and internet, and 79 percent take action from it. Television is an especially powerful medium; 68 percent of Latinos report obtaining health information from television. Hispanics are also highly influenced by their social networks, including families, friends, churches and community groups.
Hispanics are two times as likely to consider preventative tests and treatments extremely important as non-Hispanics, according to a Univision and Phoenix Marketing study. Marketing that focuses on preventative measures, a strategy that often includes an educational component, is likely to have a great impact on the personal decisions made by this diverse group.
Why Market Differently to the Latino Community?
At its heart, promotional response is dependent on personal and emotional factors that are difficult to quantify. Hispanic is not a race, but a culture; to effectively reach out to this community, it is important to understand the values that unite them. For instance, Hispanics are drawn to values like collectivism– putting family needs before self, and familialismo— how family provides a support system. Many are burdened by family care and worry about what will happen to their families if they become ill. Hispanics are also strongly drawn to the celebration of life and do not want disease to shorten their time with loved ones.
Understanding Hispanic culture and its most relevant conduits of information will allow healthcare and pharma industries to break unprecedented marketing barriers this year. An increasing number of companies are developing marketing strategies to convey Hispanic values and deliver educational information in an authentic and culturally informed voice, which will ultimately improve brand engagement, as well as health outcomes.