News Americas, NEW YORK, NY, Mon. Jan. 23, 2023: Global conglomerates realized that spreading their presence to Latin America was a pragmatic business approach in the early 2000s. But it took a few decades and advertising effectiveness for the marketing spending to increase in these countries. The pandemic led to a dip in consumption and so ad spending was reduced. However, it has made a robust comeback in 2021, especially in countries like Brazil which enjoy the status of the largest advertising market.
Though TV ads are still popular, social media advertising is paving the way in Latin American countries. The reason can be attributed to the fact that most people try to disengage from TV and multi-task over the phone. These insights are useful when earmarking the budget for different mediums.
How To Increase Advertising Effectiveness?
Latin America is a big continent with twelve different countries and diverse cultures. If a company is looking to increase its foothold here it should avoid looking at the continent as a homogenous region. Respecting cultural uniqueness and market segmentation is crucial in effective advertising.
Local businesses, through their products and services, help in preserving a country’s culture. It is important for these businesses to get online and use the power of eCommerce platforms. They can use ad intelligence metrics to understand the relevance of their campaign. Connecting with their consumers using these insights is very important for small businesses to thrive alongside big companies.
Using digital metrics to measure the effectiveness of social media advertising is imperative for successful conversions. By using third-party cookies brands can measure the difference between the footfall increase and conversion rate for the product. In case it is high, it is time to revamp or adjust the ad so that efforts translate into real sales.