Chase Targets Hispanic Market for First Time with New Marketing Campaign
By Tim Castleman
Chase Card Services announced last week its first advertising campaign focused solely on reaching Hispanic Americans. While Chase has provided Spanish-language direct mail pieces and bilingual customer service support in the past, the new “Confia en Ti, Confia en Chase” campaign is the first time Chase is advertising on Spanish-language TV and Internet sites. (”Confia en Ti, Confia en Chase” translates roughly to “Believe in Yourself, Believe in Chase” in English.)
“Chase has a significant Hispanic customer base, but we can do a better job of connecting with them,” said Carter Franke, chief marketing officer for Chase Card Services. “In talking with current and prospective Hispanic customers during consumer research, we found that we must move to an integrated, Spanish-language marketing effort that is culturally relevant to Hispanics to increase credit card penetration with this audience.”
While the Hispanic population is the largest and fastest-growing minority in the United States, less than 45 percent of Hispanics in the U.S. have credit cards. According to figures provided by Chase, the U.S. Hispanic population is currently at 43.5 million with expected growth to 48 million by 2010, and 60 million by 2020. The purchasing power of Hispanics in the U.S. was nearly $736 billion in 2005 and expected to spike to nearly $1 trillion by 2010.
Chase TV spots are running on Univision, Telemundo, Telefutura, and Galavision, while online advertisements will show up on AOL Latino, MSN Latino, Terra Online, and Univision Online.