Telemundo Texoma held the 2014 Hispanic Marketing Seminar this afternoon.
The goal of the meeting was to discuss with a panel of four business leaders ideas on how local businesses could effectively engage the growing Hispanic market.
Douglas Interiano, CEO and Founder of Proyecto Immigrante ICS, was a member of the panel.
"One out of three residents in Wichita Falls is Latino," Interiano said, "so it is very important that the business owners of Wichita Falls are aware that there is a market that they need to reach out and be successful in our community."
The emerging Hispanic market is one that is impossible to ignore. Hispanics' buying power nationally in 2010 was one trillion dollars, and by next year, that number is expected to jump to $1.5 trillion. In the Lonestar state, Hispanics' buying power is over $185 million dollars.
The panel discussed varying topics, including the importance of accuracy of the language, the sense of inclusion and comfort leading to increased revenue for businesses, and radio and television advertising to Hispanics and Bilinguals.
A disagreement arose regarding whether or not Wichita Falls was ready to have Spanish commercials on primarily English television stations. One attendee said, "If you want to get that business, you have to be ready."
In 2020, Hispanics in Texas are projected to be over 45 percent of the state's population, and many of this new group of Hispanics are under the age of 35. Interiano recognizes the variety of techniques of marketing toward the younger generation.
"There are a number of ways," Interiano added. "TV, radio, through the religious community sectors, but also to get in through the already [existing] Latino business owners, that segment is very important."