The evolution of mobile “smart phone” technology is becoming more and more important to marketers. As more people spend time on their phones, advertisers spend countless hours developing micro-mobile websites and apps for different operating devices in order to capture market share.
Major banks in the US are a prime example of how they leverage mobile technology to capture market share, especially among Hispanic consumers. As a Hispanic market research company, we have teamed up with The Zpryme to identify key mobile banks trends and usage traits among Hispanics in the US.
The findings show that 69% of Hispanics use their smart phone to do mobile banking while 47% use their tablet to conduct mobile banking. Additionally, younger Hispanics and those with higher incomes were more likely to use mobile banking. The main mobile activities being performed were listed as checking balances, viewing transactions, transferring money, and paying bills.
How did we come across this data?
We administered a survey through the Internet to a representative sample of 500 adult Hispanic between the ages of 18 through 70. Respondents who participated in this survey were asked the following:
- Their overall usage of mobile banking and mobile banking activities.
- Their primary and mobile banking satisfaction
- Their interaction with social media sites of their primary bank
- Why they did not use mobile bank
The growing influence of both mobile technology and the shift in Hispanic consumers is something most companies should pay attention to when marketing to Hispanic communities. The impact Hispanics had in 2012 from electing the president to running small business and global conglomerates shows a shift in consumer trends and the importance of actively engaging Hispanic consumers.