Bank of America, McDonalds, Visa, and Mastercard all spent enormous amounts of money to capture Hispanic customers. These large companies are able to influence local markets because of their raw power in advertising the eyeballs off Hispanic television viewers.

Small businesses have been much slower in showing interest in many cities where Hispanic growth has only occurred recently. Most small business owners appreciate the buying power that the Hispanic demographic represents but have a very difficult time wanting to change their business to accommodate them.

Not all businesses can make money from the fast growing niche and not all should even if they can. However, there are many that can and should that don't because they are afraid of change. Companies that have a desire to focus on the Hispanic market already have a substantial advantage. Because capturing the Hispanic market is much cheaper for the first person in the market than for the followers.

The businesses that know that Hispanics are spending money in their industry and want to capture that market should take notes on the following suggestions that will gain Hispanic loyalty.

Let's get more clear on the Hispanic demographic to which I refer. The majority of Hispanic growth comes from Mexico and Central America. Each Nationality has its cultural nuances and if you are a resident of an area with a dense population of South American Hispanics than you should rely on very different norms for music, food, and style to inform your message.

The Hispanic demographic is far more complicated than just nationality, however. Hispanics from Southern Mexico are very different than those from Mexico City or from Northern Mexico. Of course the third and fourth generation Hispanic in California and Texas have little in common with the first generation immigrant. I see the most potential in targeting first generation Hispanics. As a rule of thumb no matter which nation the first generation Hispanic immigrant originates, this demographic is the least difficult customer segment to recruit.

Why? Because first generation Hispanics are hungry for information. It doesn't matter if the information is solicited propoganda or from a television show, first generation Hispanics are looking everywhere for information. Spanish media advertisers commonly refer to studies that reveal how much more first generation Hispanics retain of advertising messages in Spanish than native English speakers retain of the same message in English. It is easy to understand why. They need information and will take it from whoever will give it to them.

Just because most businesses are asleep doesn't mean that Hispanic consumers are push-overs. On the contrary, first generation Hispanics are very weary of insincere attempts to take their money. Simply hiring a bilingual representative in your business isn't enough to capture the market (though it will temporarily launch you ahead of your competitors).

If you want to get serious at owning the first generation Hispanic demographic in your industry, then, you need to do more than hanging a five dollar "Se Habla Espanol" sign in your window. You have to build systems exclusively for Hispanics. For example: Why not have a customer service line dedicated to Spanish callers? Hispanics will know that you are focused on their needs and will notice the difference between you and the competition if you make them feel comfortable and important.

Most companies seem to want to make sure that first generation Hispanics know that its inconvenient to speak Spanish and that they should learn English. They seem to want to make them feel like they are last in line and make an "Espanol" option on their phone tree "option #2" to emphasize their sentiment. Companies that give Hispanics a priority service experience will pulverize these less than Hispanic focused companies.

First generation Hispanic immigrants are uncomfortable writing checks and are highly unlikely to carry credit cards. Automated billing systems are fantastic for the general market but are unlikely to work for your new Hispanic client. If you really want to dominate this market, then, you need to figure out how your business can change to take advantage of the cash only customer that pays in person. Many businesses don't see this as an opportunity. (These same businesses are spending thousands of dollars a month to capture new business).

Your frequent contact with your Hispanic customer has a huge upside. The obvious advantage is the opportunities to up-sell, build relationships which establish customer loyalty, and provide remarkable service worthy of their referrals. Hispanics are a very open community. They talk. If you are interested in capturing this demographic, then, this knowledge will either make you or break you. If you provide outstanding customer service and make sure that they feel like your preferred customer, then, everyone in their neighborhood will know about their experience within a few hours.

However, if you treat them like a number, a nuisance, or a second class customer, then, you can be certain that most Spanish speakers in their zip code will think twice before doing business with you. Your long term advertising budget should be spent on customer service. The referrals will generate the business for you.

Hispanics have many many more special needs. If only start with the hand full of suggestion I provide here, then, you are already positioned to dominate the market for several years. Your competitors will eventually wake up and when they do your customers will have already invested heavily in their relationship with you. As long as you don't screw up on customer service that will take you a very long way.

Don't fall asleep just because you have managed to gain your existing customer's loyalty, however. You need to be constantly in tune with your Hispanic customer's less pronounced preferences. For example, get rid of your 1-800-(business name here) number. Never spell phone numbers with letters on the phone pad. Keep it simple and just put the number (Latin America doesn't use letters on the phone pad). Don't saturate your customer with sale's literature (even if it's in Spanish). Train your Bilingual staff on the Spanish phrases that work and the one's that could offend. These are the details and will continue to distance you from your competition.

A company that has built systems specific to the Hispanic customer has a clear advantage over their local competitors. No amount of your snoring competitor's advertising and "Se Habla Espanol" signs will ever be enough to compensate for the clear advantage you have created by changing your company to focus on the new Hispanic demographic. Not many niches can promise that much for so many industries.