The Baby Boomer generation is the largest US consumer group with the greatest buying power.
Latino Baby Boomers make up 11% of those 81 million Boomers and are the most diverse Hispanic segment, as many are foreign-born.
Latino Baby Boomers keep close ties to their country of origin – from preserving culinary traditions and staying on top of politics back home to providing financial support to their loved ones in their home countries. They are the family's link to their rich heritage, and they strive to pass along that pride to their children and grandchildren.
Many Latinos live in multigenerational households that are larger than those of the general population. Latino Boomers are often the primary caregivers and key decision makers when it comes to insurance, financial planning, and the overall family's well being.
State Farm, a long-time investor in the Hispanic community, is a great example of a brand creating a lifestyle around its services. Marketing efforts begin at the grass roots, community level and extend through partnerships with organizations like the National Association of Latino Elected and Appointed Officials and the National Council of La Raza, to creating Spanish-language social media platforms that allow consumers to share opinions and educate themselves on insurance needs and options. They've also done an admirable job of creating a presence at cultural events to tap the consumer's lifestyle and remain relevant, and this mix, over time, earned the awareness and trust of Hispanic consumers.
Previous posts in this series focused on Hispanic Millennials and reaching the Latino male. Here are a few similarities and differences about Latino Boomers that have caught the attention of our Hispanic strategies and solutions team at Hunter PR.
- Similar to the younger generation of Hispanics, Boomers are digitally connected but using the Internet to keep up with news in their country of origin and as an informational tool to learn more about products and services that interest them.
- Unlike the younger generation, they are more likely to visit a brand's website than rely on user-generated opinions. This provides brands an opportunity to become an educational resource and help drive brand loyalty and trust.
- These multigenerational households are influencing each other's buying habits, and the younger generation is guiding the Boomers on how they access information.
If there is one thing I'd like you to walk away with, it is this: the Hispanic market is not homogeneous, and savvy marketers must look beyond language and assimilation levels to understand their passions, behaviors, values, and purchasing decisions.
Annette González-Malkin is VP at Hunter Public Relations in New York City dedicated to the agency's Hispanic strategies and solutions practice.