Targeting the US Hispanic Market with CRM Outsourcing

Date: September 22, 2010
Pages: 21
Price:
US$ 1,895.00
Publisher: Ovum
Report type: Brief Review
Delivery: E-mail Delivery (PDF)
ID: TBA151EB7D0EN
Leaflet:

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Targeting the US Hispanic Market with CRM Outsourcing
License Price: US$ 4,740.00

Introduction

As observers eagerly await the results of the 2010 US Census, many enterprises anticipate that the US Hispanic population will show considerable growth, both in overall volume and income. However, despite the fact that many CRM outsourcers have already invested in serving this demographic, there exists confusion on how to best harness Hispanic opportunities as this market evolves.

Features and benefits
  • A quantitative analysis of the opportunities for CRM outsourcers in the US Hispanic market
  • A vertical overview of the most opportunistic sectors for Spanish or bilingual service delivery
Highlights

The US Hispanic market continues to grow, as does its consumption of small and large goods and services.US Hispanic consumption is driving both short- and long-term vertically based opportunities, and CRM outsourcers need to target the right strategies for each sector if they are to profit.CRM outsourcers also need to be clear on how Spanish language patterns will develop in the US over the coming years, as changes in communication trends may mean modification of service delivery.

Your key questions answered
  • What is the size of the opportunity for CRM outsourcers seeking to service the US Hispanic market?
  • What are the best vertical opportunities in which to target bilingual or Spanish language services?
  • Can CRM outsourcers service the US Hispanic market onshore, or should this work be done in Latin America?

SUMMARY

Catalyst
Ovum view
Key messages

US HISPANICS COULD DRIVE CRM OUTSOURCING REVENUES

Market opportunity
Ongoing growth in the US Hispanic population
Young population
Recognition of the commercial importance of the US Hispanic market
Rise in affluence among US Hispanics
Propensity to consume
Vertical sweet spots
Near-term vertical opportunities
Medium- to long-term vertical opportunities

FLEXIBLE STRATEGIES REQUIRED FOR THE US HISPANIC MARKET

Evolving language patterns
Adapted service levels
How deep is enterprise buy-in for Hispanic programs?
Delivery location options

RECOMMENDATIONS

Recommendations for vendors
Promote bilingual capabilities, not Spanish-only
Look for low-hanging vertical opportunities
Leverage existing vertical strengths
Monitor US enterprise spend on Hispanic marketing

APPENDIX

Further reading
Methodology
Author
Ovum Consulting
Disclaimer

TABLES

Table: US population – Hispanic versus non-Hispanic (000s), 1994–2008
Table: US Hispanic versus total population distribution by age, 2008
Table: Top advertisers in US Hispanic media ($ million)
Table: US educational attainment (high school), 2000 and 2008 – Hispanic versus total population
Table: US educational attainment (bachelor's degree), 2000 and 2008 – Hispanic versus total population
Table: US Internet usage changes, 2006 and 2008
Table: Penetration of basic financial services across the US, 2008
Table: Penetration of high-value financial services across the US, 2008
Table: Language preferences among US Hispanics, top 20 urban areas

FIGURES

Figure: Hispanic versus non-Hispanic proportion of the US population, 1994–2008
Figure: Rise in income of the US Hispanic population, 2000 and 2008
Figure: US home ownership, 2000 and 2008: Hispanic versus total population
Figure: Communication trends between Hispanic and non-Hispanic US youth, 2010
Figure: Healthcare penetration in the US, 2009 – Hispanic versus total population
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