Hispanic Healthcare Insights
The U.S. Hispanic population is now close to 60 million strong and growing. Yet, it’s surprising that many over-the-counter health care brand managers, sales managers, and pharmaceutical companies still haven’t developed a Hispanic Marketing strategy to increase brand sales to Hispanic consumers. As a result, many national health care brands are only seeing the tip of the iceberg in sales from the Hispanic market.
Understanding healthcare trends among Hispanics
Research shows Hispanic consumers tend to spend more on over-the-counter health care brands than other groups and over-index on self-medication due to following six insights:
Hispanics are used to handling their health care needs primarily at a local drug store.
In their former country, Hispanics relied on the advice of a pharmacist for healthcare needs as much as a doctor’s advice. That has been shared with other generations.
Many times they have a lack of knowledge of healthcare issues leaving the door open for a company/brand that “talks” with them in Spanish and becomes the authority on a segment of healthcare by being the company/brand that educates them via pamphlets, TV, radio, internet, display materials, social media.
Hispanics were raised using natural herbs and vitamins as the first step in personal healthcare.
They have a lower income which explains them avoiding the price of a doctor whenever possible.
A culture that relies on the advice of family members, friends, and other influencers first in trying to address a healthcare need for themselves as well as their children.
Reach out to the market
Communicate the features and benefits of your brands to the Hispanic consumers. Educate, educate, and educate some more about your brand and what your brand/product does. Address the market before everyone else does so your brand becomes THE Brand for a healthcare need, especially since Hispanics are very brand loyal once you capture their sales.
Show the Hispanic community you care about them and their purchases simply by marketing to them in Spanish in a welcoming manner that addresses their needs, not just translating English materials to Spanish.
Bottom line
If you make the effort to develop a distinct Hispanic marketing strategy you will find Hispanic sales can affect your products and brand bottom lines in a very positive manner.