We all know America as the land of opportunity. In this blog post, however, we will explore another potential land of opportunity: America… err… Latin America. Whether looking from the perspective of a business manager or digital marketing professional, best practice is to be aware of and to understand this market.
Here are a few reasons Latin America is hot (other than the fact that it’s summer right now in many parts):
Huge, Developing Marketplace
The population of Latin America exceeds half a billion and has quickly developing economies. Most importantly for SEMs, this population includes the fastest growing numbers of internet users in the world. Due to the emerging middle classes, online retail sales in these regions have increased at a faster rate than in North America.
Brazil in particular is frequently pegged as a major emerging market. For many retailers, these countries can be a great source of incremental business, especially if the products target young, on-the-go consumers.
When compared with the United States and Western Europe, there is often less competition in Latin America for many products. To a SEM professional, this means less expensive ad inventory. Early-to-market businesses can enjoy seeing conversions with lower CPCs and CPAs (assuming, of course, they use 3Q as their agency). J
Easier than Ever
Major concerns when marketing internationally include language differences, shipping, tariffs, and the general uncertainty of trying something new. With that said, as the world grows smaller and more globalized, these issues are decreasingly problematic.
High-quality language translation services make translating easier than ever if you don’t know the language yourself. Flipping on to advertise in any country literally takes a few clicks, and targeting the right user is getting better and more specific as platforms like AdWords expand their tools. Global shipping is also becoming the norm.
The fact is that our society is increasingly globalized, and digital marketers must stay on top of international opportunities.