Reading Between The Lines
– By Madeline Perez-Velez | Group Business Director –
A recent Hispanic Business article outlined the Big Auto Opportunity for Automakers. It spoke to the Hispanic share of market of new vehicles before, during and now post the economic downturn experienced in the U.S. from 2008 – 2010. The key takeaway of the article was that Latinos have aggressively re-engaged in car buying after the economic slowdown.
While good news overall, with lots of numbers quoted, different kinds of cars and trucks mentioned, and top brands being purchased summarized, the most interesting part was the paragraph on research that stated what Hispanics look for in a new vehicle. “Image”, “Manufacturer Reputation” and “Exterior Style” were the top 3 benefits. Not surprising for Hispanics (especially those of us in Miami), “What statement the car makes about me” is a vital motivator. Also ranking high on the list was technology – both smartphone enabled and hi-tech sound systems are key.
While none of this is a real surprise – given how Hispanics care about the impression others have of them, their high incidence of mobile phone use and of course, love of music – it’s a reminder that sometimes we can find insights, or the corroboration of insights, in the least likely of places. In this case, the article provided an opportunity to think about and examine some emotional connectors associated with buying a car that can deepen the insights used in creative. The connector can be the desire to buy a certain brand, make or model, a way to stay connected safely via their phones while in the car or even the enhanced experience a sound system can ensure.
Of course, for me, having the right Auto Insurance provided by State Farm wraps it all up with a neat little bow!!