It's hard to imagine marketing to "Asians" or "people in the Western Hemisphere". So it should be no surprise that Latin American immigrants and their U.S.-born descendents don't identify with words like "Hispanic" and "Latino." Rather, they prefer to think of themselves as Mexicans, Hondurans or, for second- and third-generation kids of immigrants, simply Americans.

Yet, add them up, and it's a $750 billion spending-power opportunity that few big brands ignore these days. Neither should you. Here are the some strategies to reach out to these potential customers:

Action Steps
The best contacts and resources to help you get it done

Learn first to whom you are talking

Just because there are many flavors of Latino life doesn't mean there aren't large groups with shared experiences who might buy your product or service. Typically, big metro areas have two or three nationalities that might give you enough focus to make broad marketing outreach worthwhile.

I recommend: The Pew Hispanic Center calls itself a "fact tank," and it does not disappoint, offering extensive surveys and reports downloadable for simply registering. It isn't directly actionable marketing research, but it's close and high quality. The U.S. Census Bureau, while overwhelming in detail and harder to use, can help you drill down to precise numbers by age, race, and income down to county subdivisions.

Nail the right medium, if you have budget

Spanish-language newspapers — not just Spanish translations of traditional dailies — are springing up across the country. Local Spanish-language TV is hugely popular and, often, cheaper than you'd expect. There are also plenty of high-end consumer and business magazines, mostly in English, aiming to make affluent Hispanic readers your customers.

I recommend: The National Association of Hispanic Publications has a good state-by-state database of Spanish-language newspapers and magazines. Marketing y Medios follows the Hispanic media industry, Latina aims at women, and HispanicBusiness is the leading business magazine.

Take it to the streets

Hispanics do consume mass media, but many marketing experts counsel street-level, face-to-face and direct marketing, through cultural festivals, sporting events and in the barrios themselves to reach your targets in familiar surroundings.

I recommend: America Online CityGuide maintains a detailed calendar of Hispanic festivals across the country.

Speak their language

It's not sensible to hire a Spanish-speaking marketer unless he or she is clearly the best choice. On the other hand, if you have Spanish-speaking customers and no bilingual sales help, why would they come back, or refer you? 'Press two for Spanish' is just not enough.

I recommend: Latpro, Saludos and HireDiversity are job databases for employers seeking bilingual Hispanic professionals.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Be visible. Joining Hispanic chambers of commerce wouldn't hurt, nor would attending annual cultural fairs on a social basis. Hey, the food will be great!
• •  Develop a profile of your target based on a realistic sense of who is nearby. If you run a convenience store, for instance, it won't help to make Spanish-language signs but carry no products from the right home countries.
• •  Aim high and low. While it's generally true that recent immigrants earn less, it doesn't mean they'll buy garbage. Find ways to break packages or develop financing plans for big-ticket items. Most Latin Americans are quite used to buying in installments at home.
• •  Learning even basic greetings with a reasonable stab at the accent can mean a lot. You'll embarrass yourself, but that's a small price to pay for a new customer.