pictureEvery year from September 15 to October 15, consumer brands, nonprofits, public officials and media companies make statements in celebration of Hispanic Heritage Month. This annual observance does not come close to speaking to the immeasurable impact Latinos have throughout the year. The numbers don’t lie, and they are staggering: There are 63 million Latinos in the United States, 19.7% of the nation’s population, and a purchasing power of $3.6 trillion, making it the fifth-largest economy in the world.
One of the undeniable trendlines in our cultural landscape is the unparalleled power of sports to rally people around a common cause, invigorate communities, and drive economic growth. Yet the significant impact Latinos have on the industry’s success remains largely overlooked.
Until recently, I served as CEO of the Arizona Coyotes NHL franchise, and was the only Latino leading a major sports team in the U.S. That’s right: out of 153 teams in the top five men’s professional leagues (NFL, MLB, NBA, NHL, MLS), I am the only Hispanic CEO (the only exception is the owner-led soccer club, InterMiami CF).
This rare status was both a source of pride and a sombering picture: despite all the data pointing to the importance of this field and the business imperative of having diverse voices at the decision-making table, there have been and currently are no Latino executives leading these influential companies.
Working with my business partner Pedro Guerrero, I recently commissioned an original research study on Latino fans with the help of Nielsen, which revealed that Latino fans are the fastest growing segment across all leagues, are particularly young (72% are Gen Z or Millennials, compared to just 50% of sports fans overall), are overly interested in digital consumption (Latino fans are 38% more likely to use TikTok for sports news), and are integral to the commercialization of sports (Latino fans are 39% more likely to recommend a brand that sponsors the sports they follow).
So how can organizations benefit from the growing power of Latino fans?
Here are six strategic imperatives that will create authentic engagement and drive growth.
Creation, not translation
Often, companies only do the bare minimum, such as translating ads, press releases, and social posts into Spanish. The market responds to companies that are well prepared and develop a unique Latino strategy that takes into account not only language but culture as well.
Continuous rather than episodic
Rather than just acting during Hispanic Heritage Month, the community is calling for lasting conversations. These efforts need to be sustained and central to business-wide efforts, not event or campaign-driven.
Households, not individuals
Because a disproportionate percentage of us live in multigenerational households, companies need to connect with grandmothers who are the primary breadwinners and younger generations in the home.
Culture, not language
These days, Latinos in the U.S. move between English, Spanish, and even Spanglish. A successful approach is to leverage cultural connections and communicate with each subsegment with nuance.
Partners are not solo
For brands entering the market for the first time, we recommend working with external voices that inherently bring credibility, such as nonprofits, influencers, athletes, and media.
Insights, not stereotypes
Rather than relying on outdated tropes and clichés – like folk music or food that only appeals to certain countries – winning organizations examine the data and make authentic connections to what they do best.
It’s clear that sports is a driving force in American culture, and Latinos are driving the growth of the sports industry. For organizations that want to ensure their success well into the future, focusing on Latino fans is a smart starting point.
