Latin America: the place companies should aim for

Latin America (LATAM) market is growing at an unstoppable rhythm, offering huge possibilities for digital marketing strategies. According to the report Future Digital LATAM 2014, from comScore, the number of LATAM users increased up to 17%.; a significant increase in comparison to other regions such as Europe (2%) or North America (2%).

LATAM users have reached 176.3 millions. Brazil remains the most important market with 79.9 millions online users. This country is also at the forefront of the number of hours users are connected (29.4 hours monthly), only exceeded by Uruguay (32.6 hours). The average hours in Latin America is 21.1, which is slightly lower than in Europe (25.1 h).
Apart from being at the peak, the possibilities of success of this market increase dramatically if we take into account the large number of countries to which companies could arrive to, and the advantage of having a common language to communicate with the target market, with the exception of Brazil. Furthermore, we should not forget that this market has more than 500 million inhabitants who share a lot of similarities in culture and behaviour.

The huge impact of social networks in LATAM is also noticeable. Even though in 2013 the figures were remarkable, 80% of users were active in social networks such as Facebook or Twitter, in 2014 it reached 95%, which means that there are a lot of opportunities for companies to improve their customer relationship and reinforce their brand image using social networks. In addition, more users are joining the Net by using their mobile devices, such as tablets or smartphones. Countries which are reflecting this tendency are Mexico, with a raise of 10%, Chile (8,9%), Brazil (6,9%) and Argentina (6,8%). Therefore, companies should make use of responsive designs.

The possibilities of digital marketing in LATAM make it a safe bet for companies that are looking for internationalization. This is a market which is growing at a great exponential rate and in which more institutions are investing because they know it will be profitable.

This post is also available in: German, Spanish

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