The next few blog postings will be dedicated to marketing to the Hispanic market and why it is about time attorneys take advantage of the huge potential online.

Today, law firms have a unique opportunity to tap into one of the fastest growing consumer segments in the U.S. marketplace – the Hispanic population. Effectively targeting this group can help lawyers expand their client base and increase revenue.

The Hispanic market carries significant buying power that law firms cannot afford to ignore. By 2007, Hispanic buying power is expected to reach an estimated $925 billion, which is three times the growth rate of non-Hispanic consumers.

These statistics, coupled with the fact that the Hispanic population continues to grow at a rate of nearly 5.4 percent annually, illustrate how critically important it is for law firms to implement marketing strategies specifically tailored toward Hispanic consumers.

However, successfully reaching Hispanic audiences requires that law firms shift gears from their traditional marketing efforts and engage in a new way of communication. It is also vital that law firms understand the cultural differences that make the Hispanic population so unique from other consumer segments.

The first step in expanding your law firm practice to reach Hispanic consumers is to understand who the "Hispanic" and "Latino" markets encompass. The term, Hispanic, comes from the Latin word for "Spain" and is a broader reference that includes all Spanish-speaking people. Whereas, "Latino" is a more specific term and applies only to persons of Latin American origin. These descriptions do not refer to race, but rather define ethnicity or national origin.

In general, this distinction is of little significance when referring to residents of the United States. However, depending on the geographic location of a law firm, some ethnic groups more closely identify with one classification over the other. For example, California residents prefer to be called "Latino" as opposed to Texas and Florida residents, who identify more with the "Hispanic" reference.

Next Blog Posting: Understanding Your Hispanic Clientele