Inesperados hechos hispanos: (unexpected Hispanic facts): everyone understands the stark truths about the fast-growing Hispanic demographic. But some marketers are misled by popular myths. We look behind the statistics to uncover the sometimes surprising realities to keep in mind when marketing to the Spanish-speaking population.

• Author: Gelatt, Julia
• Position: Market Segments: Hispanics

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Hispanics are now the fastest growing and the largest minority population in the United States. There are about 42 million Hispanics in the country, comprising approximately 15 percent of the population. Hispanics have an even more notable presence in some states, such as New Mexico, where 44 percent of the population is Hispanic, as well as California (36 percent), Texas (35 percent), and Arizona (29 percent).

In recent years many financial institutions have begun directing marketing and advertising efforts toward Hispanics, in hopes of appealing to this expanding consumer demographic.

This article provides an overview of the characteristics of Hispanics in the United States that might be of value for someone in the financial services industry considering a targeted marketing campaign.

There's a lot about this market that is surprising. Here are a few examples:

* The Hispanic population grew four times as fast as the overall U.S. population over the last five years, accounting for half of the total growth in the U.S. population between 2000 and 2005.

* Although the majority of Hispanics (60 percent) are foreign born, Hispanic births in the United States accounted for more of the growth in the Hispanic population than did immigration.

* Hispanic populations are growing most rapidly in Southern states such as Arkansas, South Carolina, Tennessee, North Carolina and Georgia.

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Understanding the Hispanic population

There are several characteristics of the Hispanic population that marketing professionals should keep in mind if devising campaigns targeted to this group.

Hispanics are not a homogenous group in their country of birth, heritage, citizenship status or English ability, among other factors. Though there are similarities, it is important to be aware of the characteristics that are unique to the Hispanic population in any particular area. A specific marketing campaign may appeal to Mexican-Americans living in Arizona, but not to Cuban-Americans living in Florida. Similarly, appeals to the native-born Hispanic population may or may not appeal to Hispanics born outside the United States. Keeping in mind these and other details when devising a marketing strategy is one way to ensure flint the message is reaching the intended audience, and more importantly, that the audience will pay attention to the message.

Diverse Origins. Hispanics in the United States trace their origins to a number of...