Thursday, October 1, 2020

Future of Telecom Industry Depends on Latinos

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With the Latino purchasing power expected to reach $1.5 trillion dollars by 2015, the telecom industry is brainstorming new and improved marketing techniques to attract tech savvy next generation Latinos.

“The most important ingredient for success is creating a connection between bands, brands and fans that brings them together organically,” said Heidi Browning, Pandora’s Senior Vice President of Strategic Solutions. In an effort to increase Latino marketing stakes, T-Mobile and Pandora have recently partnered to generate a more authentic outreach to the community.

In May, 2013 the Economist reported that one in every six Americans is Latino.

Accordingly, Latinos have become one of the largest populations to use media and the internet — the largest percentage being the highly-popular demographic of New Generation Latinos (NGLs),  a rapidly growing segment that fuses Latin roots with their American way of life and experiences, which currently account for 75% of the 12-32 Latino population.

According to a report, NGLs lead the 75% of U.S. Latinos that currently own smartphones. Another data suggests that 72% of the of the Latino population use social networking sites, making them the largest percentage of internet users when compared to whites and blacks. Now more than ever, large companies are recognizing that Latino marketing — especially to these U.S. born and foreign-born Latinos — has become particularly urgent for wireless and technology companies as this rapidly growing population continues to dominate the industry.

Forbes