Tapping into an Untapped Market: Spanish Speakers

HIFI Agency had several goals in mind for this campaign.

• Test and analyze the effectiveness of Spanish-language advertisements within the targeted geographic areas
• Increase brand awareness and account openings among Spanish speakers
• Compare performance metrics, such as impressions and account openings, with English language campaigns

Reaching New Audiences Through Spanish Campaigns

With help from a Spanish-speaking marketing agency, HIFI Agency launched a series of Spanish campaigns, across programmatic and social platforms, each identical to English variations. The Spanish and English campaigns each targeted the same geographic region, with the same budget provided. The results of the first two months of these campaigns were impressive.

How did the Spanish Campaign Perform?

In the first two months of the programmatic campaign, the Spanish advertisements accounted for nearly 95 percent of the total account openings. While the English campaign accumulated 9.2 percent more impressions and 31.6 percent more link clicks, the Spanish campaign still gained 16 more primary conversions. This shows that while the English campaign was effective in attracting engagement, the Spanish campaign was more effective in driving new account openings.

Similarly, across Meta, the Spanish advertisements performed significantly better than the English advertisements, accounting for 85 percent of the total results. While the CTR and reach remained relatively comparable between the campaigns, the Spanish advertisements attracted 25 percent more impressions, 14.8 percent more link clicks, and 39 more conversions. These results reveal that the Spanish campaign is more effective in driving both engagement and conversions.

Breaking Down the Metrics

The Spanish campaigns were very successful on both platforms, even resulting in more account openings than the English campaigns, and this could be due to several reasons. First, the Spanish-speaking audience is a relatively untapped market, likely facing less competition in advertising, which allowed the Spanish campaign to stand out more. Another reason this campaign performed better could be because the advertisements had more relevance and connection to the audience. Since Spanish speakers are often overlooked in financial marketing, seeing an advertisement in their language may have provided a sense of inclusion and trust. By prioritizing Spanish-language advertising, banks are showing a commitment to helping this market achieve its financial goals. HIFI Agency hopes that by continuing to target this market, Equity Bank will be able to position itself as a trusted partner in the financial journeys of Spanish-speaking customers.

Ready to be Engaged

The high campaign engagement and amount of new account openings, across both platforms, highlight how the previously untapped Spanish-speaking market was ready and eager to be engaged through advertising. These campaign results show how thoughtful and strategic engagement with underserved audience segments can lead to impressive results. HIFI Agency was able to provide Equity Bank with a competitive advantage in the market by tapping into the untapped potential of the Spanish-speaking audience.