I guess a social network for the Hispanic Market in the US would seem like a great idea to launch, after all, they’re both hot. The Hispanic community has recently reached 11% of the total US population and Social Networking is probably the hottest thing in the planet.
So why is it that the current numbers on the few Hispanic networks out there are not looking very promising?
There are 3 reasons:
- Knowing the market on the statistics is one thing, knowing the real Latino on the streets of L.A. is a whole different animal. This is not just for social media, I’m talking about marketing in general. Companies claim to know the market but they still waste millions of dollars every year on the wrong approach.
- 1st. Generation Latinos are not really computer savvy. They are hard working people that have little interest in computers in general. They usually own a computer for their children.
- 2nd. Generation Latinos don’t feel the need to be boxed in a category. They couldn’t care less, if they want to speak Spanish to their friends, they’ll do it on Facebook. They are part of this society as much as anybody else.
The truth is that targeted social sites are not expected to reach very high volume levels and if that fulfills their objective then good for them. The Hispanic market on the other hand, is a pretty big target. I don’t think any social site dedicated to this market will get into the millions, at least not now, even with the huge population.
Here a couple of examples of traffic statistics, not only the numbers are low but they are decreasing. The first one is MiGente:
Even Univision, which is backed-up by one of the Top 5 national networks in the US and obviously drives higher traffic, seems to be decreasing a little:
Another example is what Terra has just announced, the integration of Twitter en Espanol into their site. In case you don’t know, Terra is probably the Yahoo of Latin America and Spain. They are very successful, but if you ask me about conquering the US market, I don’t think so.
In other words, if you are looking into getting a piece of one of the biggest purchasing powers in the planet, you will still have to go to the general market platforms and get really creative.
Share your thoughts…