A Growing Trend Requiring Relevant Translations
Roughly 1 out of every 5 Americans today may identify as Hispanic. That is a population totaling 55 million people across the country. This is a substantial demographic that is having a real impact on the U.S. economy. One of the key areas to be aware of in relation to this demographic change is the growing influence Hispanic consumers are having across all markets.
There already are adjustments occurring throughout the economic world to incorporate the needs of this fast growing cultural base. One of the most obvious concerns being addressed is the need for accurate and relevant translation services. This is an industry that currently has a projected growth potential of around 29% by the year 2024. This represents nearly 18,000 new jobs, but the demand for correct translations simply won’t end there. To best recognize how this growing demand is changing everyday commerce, consider how this growing Hispanic market impacts the daily business world as a whole.
As recently as 2013, it was estimated that nearly 45% of all Spanish speakers in America have limited English skills. How effective is a business at attracting new customers if 45% of the market is unable to comprehend their marketing strategy? If a business is able to utilize an effective translation service in order to help bridge the gap between the two parties, there then arises the potential for access to a new customer base. Many business owners may take for granted that the services they provide are simple to understand or are already being covered by another local individual from within this population, but this may not always the case. These assumptions can hurt the bottom line of any business, even though there is a simple method to work around these challenges. By working with a skilled translation service and developing strategies to overcome the difficulties associated with the language and cultural barriers, all parties can begin to benefit from newly formed relationships.
In today’s marketplace, Hispanics currently possess a buying power that is estimated to be around $1.5 trillion dollars a year. This translates to a massive earnings potential for anyone who can get a foothold into this marketplace. A company’s ability to utilize culturally aware means of advertising can help them to gain the foothold they need. It is likewise true that a business may need to make adjustments to their current practices in order to begin to demonstrate this awareness. So what adjustments need to be made in order to demonstrate an awareness of this new demographic?
One of the biggest challenges to capturing the Hispanic market is making the content you present culturally relevant to your target population. As it stands now, nearly half of all Spanish speaking users of the internet prefer content that is written in Spanish. If your services rely solely on an automated translation service in order to convey your content, you may soon discover that the message you intend to portray may not be the one you are receiving. Minor changes in tone or inflection may go unnoticed on your end, but they will be picked up on by those whom they are being aimed at.
It is imperative to understand the necessity of utilizing the
viewpoint of someone with a strong knowledge in regards to Hispanic heritage and values. This is a situation where one size simply can not fit all! The need is not simply to have a message reworded, but to have it mean something that can convey your sincerity and purpose in reaching out to this new demographic.
At the current rate of growth, the Hispanic population in America has increased rapidly over the last fifteen years. From 2000 to 2010, individuals identifying as Hispanic increased by 43%. And to solidify the importance of this statement, this growth trend hasn’t ebbed since. According to U.S. census data, the projected Hispanic population in America will continue to rise and by 2050 will represent 132.8 million people. That number comes out to around 30% of the total population, or one out of every three people. So how could a business owner possibly consider ignoring this demographic when they will soon make up such a large portion of the total population?
There will never be a magic answer to making the services and the content you provide all inclusive to the needs and desires of the Hispanic marketplace. What is important is that you are able to generate interest in your brand by addressing the values of the Hispanic-American population base. Working with talented and knowledgeable individuals like we here at Bilingual Franca can help you to better capture exactly what the market is looking for. While you may have the best of intentions, and you may consider what you do to be culturally sensitive, the truth of the matter is that it may simply not be what your customer’s are looking for and may inadvertently drive away potential business.
As a closing thought, consider this. In what ways can a translation service go beyond simply helping with the conveying of your content and reach further to help you incorporate culturally significant meaning to your brand’s message?