Archive for May 16, 2012

Map

Growth and the importance of Language

Written by Christopher Stanley on . Posted in Uncategorized

Map

Map

While it’s not the only factor, there is no doubt that being able to speak a local language is a key to doing business in any given country.  And while certain languages are common in large groups of countries (English, Spanish, French, Portuguese, Arabic and others) there are some that may be limited in the number of countries spoken, but have a very important reach in terms of population numbers and of course, where a company may intend to do business.

According to a recent CNBC article “Language Barriers and Miscommunications are Stifling Growth“, almost half of executives surveyed admitted that communication misunderstandings have stood in the way of major international business deals and therefore resulted in significant losses for their companies.  Additionally, 9 out of 10 expect their number of international clients to increase over the next three years, highlighting the need companies have for language competency, as well as areas that future job seekers should consider.

As a U.S. company that deals with the Hispanic market within the U.S. as well as Latin America, we have worked to put together a multilingual team.  The benefits of this have been evident from evaluating clients’ marketing efforts to doing business in Latin America. I have come to the conclusion that not only is language and cultural understanding important for the employer, but is also a considerable plus for job seekers in their evaluation of a company.

As the article states, language competency does require focus on the part of companies, and while not easy to achieve, it is imperative that companies looking to do business internationally create an environment that fosters both linguistic and cultural understanding.

Latinos and Mobile Apps

Hispanic Buying Power in Mobile Apps

Written by Pablo Rivera on . Posted in Marketing, Mobile, U.S. Hispanic

Latinos and Mobile Apps

Latinos and Mobile Apps

I was aware that Hispanics are a tremendous buying power in the US, but what I wasn’t aware of was that a huge chunk of their dollars was going to mobile.  A previous article in Reach Hispanic states that Hispanics will spend around $17.6 Billion in 2012, a 30% increase over the previous year. That is a big number, but I was also interested in a new article I found in eMarketer which talks specifically about Hispanics’ spending in mobile applications.

The article says that Hispanics will spend $500 million in mobile apps alone, and apparently one of the reasons is because Hispanics are early adopters of technology and are also more likely than whites to go online using mobile devices.  According to December 2011 research by advisory firm Zpryme, smartphone penetration was 51.5% among the survey group, which was comprised almost entirely of mobile owners from which only 6.1% said they didn’t have a mobile phone.

According to eMarketer, the high adoption rates for smartphones among Hispanics are likely due to the fact that they are on average a young group, and more likely to use mobile devices instead of landlines.