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Start to market
Once you have the appropriate personnel and products in place, look at your marketing efforts. First, decide what market you wish to cover — new immigrants, first-generation Hispanic Americans, second-generation, third-generation or all market segments. All are similar, though each with unique qualities.
Marketing to Hispanics in Spanish requires knowledge of the language and cultural differences. It is important to translate words from English to Spanish correctly, so your advertising conveys the same message in both languages. Therefore, it also is important to locate advertising and marketing companies that have experience developing Hispanic-oriented marketing strategies. Spanish-language radio and television stations can be prime sources. Traditional advertisements in Spanish-language newspapers can be somewhat effective, and even including a tagline in your regular advertisements that says “Se habla español” can draw attention to your company’s abilities.
If your marketing is effective, your company will receive numerous requests from Hispanics wishing to purchase their first home. Patience is the key to success with Hispanic homebuyers because loan officers could need more time to interview, educate and process the mortgages. If you are successful, your clients will forward your name to relatives, friends and acquaintances — which will provide even more leads.
If you follow my guidelines, you will help more people purchase their first home and generate more business for yourself in a crowded pond. What could be better?
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