Dense canopies of tropical forest. White sand beaches and azure waters. Massive mountain ranges and cliffs that stretch to meet the shore. These are some of the images associated with the majesty of Latin America. It is a place where the topography is as varied as the people and cultures that inhabit it. But with the digital divide receding a little bit more each day, Latin America is quickly emerging as one of the fastest growing economies in the world as well.
Social media has changed the way we do business. For brands looking to broaden their appeal and connect with Latin American demographics, emerging markets such as Brazil, Mexico, and Argentina are closer than ever.
And just like countries around the world, influencers are an invaluable resource in creating genuine connections and creating engagement among Latinxs.
But just because Latin American influencers function similarly to their global counterparts, brands can’t afford a “one size fits all” type strategy and expect the same results. One of the wonderful things about social media is that, despite its shared commonality, it can be an organic extension of the varied cultures it evolves from. Any brand looking to find success in LatAm, must first understand the unique trends and roles of influencers that are driving growth in the region.
A Focus On Micro-Influencers
Micro-influencers are defined as influencers who have between five thousand and ten thousand unique followers on any social media platform. While macro-influencers, influencers with over 150’000 followers, and celebrities can raise overall brand awareness, micro-influencers tend to have closer relationships with their followersthat drive engagement. This kind of intimacy can be leveraged by brands in order to develop more targeted and authentic strategies and campaigns.
With 80% of its influencers being classified as micro-influencers, cultivating a relationship and strategy around this fact is crucial for any brand looking to expand into Latin America. Furthermore, the dominance of micro-influencers across the region coincides with the larger global trend of users demanding more authenticity from brands and influencers as a whole.
Greater Purchasing Influence
This higher level of engagement between micro-influencers and their followers correlates to a stark difference in purchasing influence. In fact, 64% of purchases are driven by influencers in LatAm. This, compared to 39% in North America and 36% in Europe, shows that as a whole, Latin Americans are much more likely to trust recommendations that come personally from influencers than those that come from a brand or traditional marketing. Any strategy that seeks to increase conversion from social media into purchases must take this into account, and leverage the content users are looking for from the faces they trust.
Yes, You Need a LatAm TikTok Strategy
TikTok’s rapid growth is set to continue through the remainder of 2020 and into 2021. And as you might have guessed, the Latin American market is no exception. Brazil is the fastest growing market for the app, with 113 million downloads as of February of this year. However, Mexico is also seeing rapid growth, currently ranking 5th on the countries with the most downloads and making up the largest spanish-speaking market.
High Engagement Rates Across Social Media
While TikTok might be the fastest growing app in LatAm at the moment, the region as a whole boasts high rates of social media engagement across all platforms. A report by Statista shows that Latin American users average three and half hours on social media per day, more than any other region.
This provides brands with unprecedented access to the demographics they are looking to target. Furthermore, due to the rapid growth of e-commerce in the region, partnering with the right micro-influencer and getting your campaign in front of their followers can lead to a quick conversion and boost in sales.
E-Commerce is Growing
LatAm is the second fastest growing market for e-commerce in the world. The region is forecast to grow by 25 percent up until 2021. Furthermore, LatAm is also showing increased popularity when it comes to m-commerce, with almost 28 percent of online purchases being made via mobile. And with the advent of add-ons like Instagram Shopping, users on mobile won’t even have to leave the app to make a purchase.
Embrace the Culture
These factors, driven by increased access to the internet and a stable economy, have come together to create a market that is conducive to influencer penetration and trusting of brands. Furthermore, while user engagement and e-commerce were already strong in the region, we’ve seen a global increase in these areas due to the pandemic. For brands it is a perfect time to leverage these increases and connect with a user base that is more engaged than ever.
But beyond simply following the trends listed above, the most important step for any brand trying to make a dent in the Latin American market is to embrace the culture. The LatAm of today is a place where the digital and the traditional exist side by side. Choosing the right influencer is the first step for brands looking to bridge that gap.
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