Law Firms currently have an opportunity to access one of America’s fastest growing segments of the American marketplace — Hispanic clients. By effectively reaching out to this population base, attorneys have the opportunity to increase their revenue and also expand their client base. Today’s Hispanic population own a share of the marketplace law practices can no longer risk ignoring, as Latino’s purchasing power grows at three times the rate of their fellow non-Latino Americans.
Coupling these statistics with the growth rate of the Hispanic population exceeding five percent annually helps to illustrate why law firms must implement marketing tools and strategies created specifically for Latino clients. However, law firms must alter their traditional marketing tactics in order to successfully engage Hispanic customers through unique methods of communication. Law firms must also learn about and understand the cultural differences that make Latinos unique from other segments of the marketplace.
Differentiating Between ‘Hispanic’ and ‘Latino’
While the terms “Hispanic” and “Latino” are used interchangeably through this piece, their meanings are similar but not exactly alike. First of all, your law practice must be able to differentiate between Hispanics and Latinos. The word Hispanic originates from the Latin-language translation for the nation of Spain, and more broadly references all people who are Spanish speakers. However, Latino is more specific to people originating from Latin America. Hispanic and Latino more closely define a person’s national origin and ethnicity than they do race. And as stated before, among those living in the United States, the distinction between the two is quite insignificant.
However, depending on where your law firm’s home office is located, it can be helpful to know which of the two is the preferred terminology. In Texas and Florida, people of Spanish backgrounds tend to identify more with “Hispanic,” while in California the more preferred terminology is “Latino.” Though there is some diversity among the populations of Hispanic and Latino people, as a whole the culture shares several common characteristics attorneys need to take into consideration when communicating with an individual who is Hispanic or Latino. For more tips on how to best communicate with and market your law practice to the Hispanic and/or Latino community in your area, please continue reading here.