Latin America is an enormous contrast region and is involved in a cultural revolution that offers great challenges for brands. Nowadays, we may see that the Latin American population is young in general, that several countries in the region are on the way to becoming power countries, that Internet use and connectivity are growing rapidly, that technology is more accessible and that the economies, in general, are healthy.
Therefore, it is a fact that several foreign companies are increasingly focusing on our subcontinent, which, as well as having many attractions, also has enormous challenges that are exacerbated if we mistakenly see the region as a uniform whole: it's true that Latin Americans have things in common, but each country is different and requires a particular communication strategy so your brand doesn't suffer an irreparable setback when going to market.
One of the keys to making an effective entry into Latin America is to use the common elements of the region, but at the time of the message spreading, it will be necessary to incorporate the particularities of each country.
In this article, we will talk about the particularities of the Latin American audience, its press, the famous "tropicalization" and other aspects to take into account to make the region fall in love with your brand.
How do Latin the American market buys?
According to a NSB, report, these are 5 insights about the Latin American consumer behaviour, which, as you will see, have to do not only with the economy but also with culture and technology:
Do you think it's a coincidence that in recent years that small businesses and other fast food and drink chains have multiplied exponentially, like Starbucks or McDonald's? The business of consumer franchises is very lucrative in our region because there is a growing need for quick options, not only to eat or drink but also to have fun, get dressed, reload your cell phone, etc.
Fact: in Brazil, small supermarkets, and convenience stores grew 6% in 2015 and in Mexico 19%.
Although most people still prefer to go to the store, the growth of internet penetration has caused more and more Latin Americans to go to online stores to buy everything.
Whether it's because of its price, freshness or national pride, Latins prefer to buy local brands, that's why it's so important that if you're going to the region through a purchase, merger, joint venture, etc., you know that change the local brand's name is not an intelligent movement. It's worth mentioning that for buying electronic products, cars, and health products, Latin Americans still prefer foreign brands.
Latin America has very high rates of obesity, so its inhabitants are becoming increasingly aware of that.
It is true that, nowadays, Latin America is young subcontinent, but that will change radically in the coming decades. Today, people over 65 exceed 40 million, is 7% of the total population, but it's estimated that this segment will increase to reach 83 million in 2020.
In addition, other characteristics of the Latin American consumer that you must take into account are:
Latin American society formation by age
To join with firm step any market, it is important to know how its population is in order to establish objectives and a coherent communication tone with the target audience. This is how the Latin American society is composed:
Latin American press particularities
Surely you are aware that press is a key to successfully undertake your communication strategies, in case you want to address the mass audience. Working hand in hand with journalists will not only allow you to spread your messages organically and coincident with the tone and needs of the brand, but you will also have the necessary feedback to know the concerns of your audience.
The first thing you have to take into account is that the Latin press most of the time prefers to do all their coverage in person, as well as agreeing on interviews in informal preference contexts. In other words, they prefer the proximity and put a face to the "cold" emails they receive every day. It's important you consider in your public relations plan some events, presentations, and conferences to show you close to the journalist.
Now, we will talk about some formal aspects of the Latin American press status so that you consider it in your introduction strategy:
Storytelling and Latin society
Storytelling is one of the most effective techniques not only to tell stories about your company but to make them transcend and stay in the mind of your target audience in order to make them do a concrete action.
To make your storytelling effective, it's very important you connect with your audience at an emotional level, and to achieve this you must know your audience. Some of the stereotypes that define the Latin American societies (according to the same population of the subcontinent) are:
Additionally, these are some characteristics that get closer to all the Latin Americans:
So, when you think about doing storytelling, use these elements into your communication efforts, but beware: it's not about changing your brand personality just to please or "merge" with the Latin American audience. Your essence must remain intact, but it is essential that you be aware of how "the rules of the game" are in the region you are going in order to adapt to them.