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US Hispanics to spend $257 billion in Telecom

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US Hispanics Will Spend $257 Billion on Telecommunications Services over the Next Five Years, Says Insight Research Corp.

The US Latino market tends to over-index in mobile content and US Hispanics are accessing the Internet through more and varied devices than non-Hispanics. Are you monitoring what they say about their Telecom services?

The US Latino market tends to over-index in mobile content and US Hispanics are accessing the Internet through more and varied devices than non-Hispanics. Are you monitoring what they say about their Telecom services?

BOONTON, N.J., June 28 — Over the next five years, US Hispanic communities will spend $257 billion on telecommunications services, accounting for 17 percent of all residential telecom expenditures, according to a new market research study from The Insight Research Corporation. Early analysis of Census 2010 data suggests that Hispanics will surpass the 50 million mark and that they will command over $1 trillion in buying power. Hispanics are the youngest race/ethnicity segment and, more importantly, have the largest percentage of people under the age of 18, a market demographic that the study says will be crucial to the survival of telecommunications providers over the next five years.

Insight Research’s market analysis study, “US Hispanic Use of Telecommunications Services 2010-2015,” takes a close look at the purchasing habits and telecommunications usage patterns of the Hispanic segment of the US population, as well as other ethnic communities in the US. The study emphasizes that the US Latino market tends to over-index in mobile content and also notes that US Hispanics are accessing the Internet through more and varied devices than non-Hispanics.

“If the future of mobile carriers depends on their getting consumers to buy their data plans, then the US Hispanic community is right in the sweet spot, and will be receiving increasing attention from both wireline and wireless carriers’ marketing departments,” says Robert Rosenberg, Insight Research. “Our study demonstrates that Hispanics are one of the most social groups online, and given the youth-orientated demographic of the US Hispanic community, they become a prime target for the newer 3G and 4G cellular services,” Rosenberg concluded.

“US Hispanic Use of Telecommunication Services 2010-2015” examines spending and usage patterns of US Hispanics for wireline, cellular, and pre-paid cellular services, and compares these spending patterns to those of the general population aswell as other minority segments, including Asian-Americans and African-Americans.

An excerpt of this Hispanic market research report, table of contents, and ordering information are online at www.insight-corp.com/reports/hisp10.asp .

NEWS SOURCE: Insight Research Corporation

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How To Use Social Media Monitoring Tools To Aid Product Development

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To many, the process of developing a successful product can be a mystery. Sometimes companies will spend months of development time to create a product that doesn’t reflect the needs or the scope of its intended market. And other times, successful products are developed completely on accident. Because of this, it can often seem impossible to develop successful products. However, if one takes the time to listen to their marketplace and plan the development process accordingly, they are more likely to succeed.

In this post, I would like to discuss how to use social media monitoring tools to aid in product development and market research.

There are many steps to developing a successful product. But the first step is always concept creation. Here we are thinking about broad-based ideas. Using social media monitoring at this step can help form a direction and scope for the rest of the development process. For example, if we want to develop a product focused on online video, we might monitor such terms as “video”, “video sharing”, or “video rating”. During this first stage of monitoring, we will want to focus on what aspects of online video people are talking about most.

How To Use Social Media Monitoring Tools To Aid Product Development

How To Use Social Media Monitoring Tools To Aid Product Development

Sniffing user needs out of social media

Identifying trends and audiences is extremely important to defining the scope and direction of your product. With our example, we might find that the largest demographic for video consumption are young adults and predominately focus on music and entertainment.

After we have used our monitoring tools to identify trends and audiences, we now begin to monitor scope and direction. Understanding how your target audience is using products is important in your planning process. With our example above, we might monitor conversations to determine where and when video content is being viewed the most. Questions such as “are the users using handheld devices or traditional desktop machines?” can be helpful when determining the scope and direction of your product.

While observing how the market uses similar products, you can begin to make a potential features list. For example, you might observe some users prefer video playlist and some prefer video sharing. Making a features list based on actual user conversations/engagement can be extremely powerful when deciding how to delegate resources during the development process.

Prepare your competitive position

After you’ve completed your features list, research other companies and products that meet the needs of your target audience. Use this list of companies and products to begin brand monitoring to aid in competitive analysis. Here, we will be looking at users reactions and sentiment towards competitors in your marketplace. Pay attention to any gaps between your target’s dialog and what your competitors are offering understanding these gaps can help develop a strong point of difference with your product.

At this point, you should now have a direction, feature list, and definitive point of difference that is all reflective of your marketplace. Now its time to send your ideas off to the engineers! But wait, don’t stop monitoring social media! After you have launched your new product, you are going to want to continue to monitor social media to identify flaws and improve with extended feature sets that are now more apparent after you have launched.

Understanding your marketplace and target audiences are important to product development. Whether it is concept creation or refining your feature list social media monitoring can help with the necessary research in building the perfect product.

Source: www.theseohelpblog.com

What is Social Media?

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What is Social Media?

One of the key factors in Social Media Marketing is the measurement of its success or impact. In order to measure, you have to monitor engagement and sentiment.

Make sure your online media monitoring solutions are able to bring relevant results and analyze sentiment with a machine learning algorithm platform or you will find yourself immersed in a sea of non-relevant results.

Remember that in Social Media, people comment on your brand in the language of their choice and that over 53% of the U.S. population growth between January 2010 and December 2015 will be driven by Hispanics.

Therefore, try to include these comments not with a mere translating tool but a platform that comprehends idioms and cultural expression of the countries of origin and even Spanglish!

Video Source: Marta Kagan

Why SMX Echo is the Leading Multicultural Social Media Monitoring Tool

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I had the great pleasure of meeting Claudia Havi Goffan about a year ago. I quickly realized that Havi was an incredibly talented and driven person. She has been in the marketing space for more than 25 years — specializing in strategic planning. Havi has been recognized as an expert in Latino Marketing by CNN and more importantly she has been named one of the top 48 Public Relations Professionals by American Express.

Form relationships with other local businesses that cater to your customers. Ask them to offer a discount to their customers if they mention coming from their store when they purchase from you. Feel free to reciprocate. — Havi Goffan

When Havi is not busy with the Board for Latin Success or with the Argentine American Chamber of Commerce — she is busy running her company — Target Latino. As CEO, Havi has feverishly promoted the importance of the U.S. Hispanic market to American companies. She has worked with many top brands ranging from AT&T to XEROX. One of the most exciting partnerships that Havi and her team are working on is with SocialMetrix — developers of SMX Echo.

Read more of Ramon Nuez‘s article at the Huffington Post

Claudia Havi Goffan is the CEO of Target Latino and she specializes in generating Word-of-Mouth via Grassroots strategies online and off-line always with outstanding results.