The following points are important to remember when implementing mortgage marketing strategies tailored to Hispanic audiences.
- Many Hispanic individuals are bilingual. Loan officers interested in appealing to the Hispanic audience should cater to multiple languages. Making websites reflective of a multicultural audience can begin with reproducing articles, reports and other site content in the Spanish language. Marketers can also set their websites to translate to Spanish on request by Spanish-speaking visitors.
- Hispanic individuals may not have been born in the U.S. Mortgage marketers should place emphasis on education and communication. There is a common misconception among non-native born buyers that a 20% down payment is necessary to move forward with a home purchase. Focus on providing clear and helpful answers to misunderstood notions about the home buying process.
- There are generational and cultural gaps in the Hispanic audience. Consider a tailored approach for generational and cultural relativity. Older immigrants, who are considered “traditionalists,” may not speak fluent English. To break through this barrier, loan offers can market to these individuals via traditional and digital Spanish-speaking channels. Marketing that aims to reach these Hispanic individuals should focus on traditional Hispanic values and traditions, including food, family and holidays. Second-generation Hispanics, those born in the U.S. to a Hispanic family, may have adopted many U.S. customs and can be reached with less tailored marketing.
When marketing to the Hispanic audience, it’s important to truly understand consumers as individuals, like Movement Mortgage did with Movement Comunidad. This initiative was built to serve Hispanic communities with Spanish-speaking loan offers, underwriters and processors. The program includes marketing materials printed in Spanish and Movement Mortgage has collaborated with the National Association of Hispanic Real Estate Professionals to develop marketing tools in Spanish. The Hispanic community appears important, valued and understood by the Movement Mortgage brand, as confirmed with the creation of Movement Comunidad.
When marketing mortgages and other home finance products, marketers should consider including messaging tailored to the Hispanic market as this audience is fast growing and eager to buy homes.
Seeking New Ways To Maximize Your Customer Acquisition Efforts?
Digital Media Solutions (DMS) is a technology-enabled, data-driven performance advertising solutions provider connecting consumers and advertisers. Contact DMS today to learn how our first-party data asset, proprietary technology and expansive digital media reach can help you scale your customer acquisition results.