The Hispanic population boom in the US has sent companies scrambling to win a piece of the lucrative pie.

According to the The Selig Center for Economic Growth, Hispanic buying power for 2002 totaled $580 billion, with a predicted compound annual growth rate of 8.7%. (The standard rate for non-Hispanics is 4.8%.)

The center’s study predicts that by 2007 the dollar power of Hispanics will rise to $926.1 billion. The Hispanic community clearly holds a great deal of economic clout, which certainly explains why marketers are vying for its attention.

Unfortunately, many marketing campaigns are ineffective. Here are the top three reasons.

1. Advertising for Service-Related Products, But Not Educating

2. Translating Accurately—but Not in a Culturally Appropriate Way

3. Marketing Without Bilingual or Bicultural Staff

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Marketing en español dominates northeast according to HispanicBusiness.com.

Hispanic market lures equity firms according to HispanicBusiness.com.

Common Sense Advisory report reveals few web retailers target large Hispanic market. Hat tip: The Online Hispanic News.

Translation companies are a hot commodity as businesses reach out to the Hispanic market according to HISPANICTrends.com. Hat tip: Common Sense Advisory.

The Hispanic market is hot and the heat is attracting big-money investors according to HispanicBusiness.com.