Image may be NSFW.
Clik here to view.
Compiled by Janete Ribero, Professional Services Senior Consultant at Teradata Marketing Applications. Located in São Paulo, Brazil, Janete is the technical lead for Teradata Marketing Applications solution implementation throughout Latin America and the Caribbean.
Usually in the beginning of the year, many market research institutes divulge their assumptions about New Year trends. Anyone who works in marketing in some capacity is likely going to jump at the opportunity to edge out the competition by consuming these projections.
But how about IT folks? We have so much and so many predictions for marketing…but how about for IT? Where are these predictions? Granted, it could be that IT people are likely so busy during their day-to-day routines that writing isn’t exactly a top priority. But it should be, because that future is now.
Otherwise, the communication between IT people and Marketing people may be unclear. Mending that divide is crucial.
Let’s try to help! The site “Trends Watching” had published 10 new trends for the Latin American market in 2015. Here’s ten things marketing and IT can look forward to, together, for 2015:
1. IN-HAND BRANDS
“As South & Central American consumers’ expectations grow, their patience shrinks. Smart brands are seamlessly integrating themselves into people’s lives with a sense of urgency. Busy consumers hate to waste time, they need problems solved and desires realized NOW. In 2015, they will demand brands add resources and create shortcuts that speed up delivery of their offering(s). And the best brands will be where and when they are needed, before the consumer even knows they want them. So, when and where do your consumers need (or expect) immediate service?”
That is the market trend and its challenge. How can IT help? IT can supply analytics tools can help marketing people to understand consumer habits. With that information, they could create more assertive marketing campaigns that target customers where and how they want, through many digital channels, using marketing campaign tools to do that quickly and with management functionality to understand evolutions in customer interactions.
2. BRIGHT IS BEAUTIFUL
“BRIGHT IS BEAUTIFUL and South & Central Americans are desperate to flaunt evidence of their educational endeavors – as status symbols – to their family, friends and followers. What does this mean for brands in 2015? Beyond integrating learning and literary experiences into consumers’ daily lives (see STATUS SMARTS), consider how you can help consumers express (ok, how off Image may be NSFW.
Clik here to view.
their knowledge. Can you help them do this through social networks? In Latin America people spend more time on social networks than anywhere else in the world, averaging 8.67 hours per month (comScore, July 2014). Perhaps the opportunity lies offline? Even a pair of jeans can be used to flaunt a love of literature”
Once more, IT must help that strategy with digital channels monitoring, capturing their customers information thought social networks and give that information to marketing to create the appropriate communication for customers.
3. RECONCILIATION BRANDS
“Despite all the progress in South & Central America, there are strong strands of inequality and barriers that divide people in the region. Financial hardship, inequality and prejudice. Routine for many, yet brands traditionally avoid confrontations – such as the rolezinhos (teenagers that used social media to meet at shopping centers) or the polarized elections in Brazil. In 2015, brands cannot ignore these issues. The gap between rich and poor is a serious issue for 68% of Brazilians (Pew Research, June 2014). Brave brands (large and small) will jump into the discussion. Will you do your part to promote dialogue, mend wounds, and reconcile?”
Technology can support overall business strategy by offering IT the infrastructure to understand consumer interaction, then let marketing use digital channels to talk to consumers.
4. DEMOCRATIC PRICING
“In March 2014 we highlighted EMPATHETIC PRICING: targeted discounts that address consumers’ pain points. In 2015, consumers – increasingly accustomed to participation – will drive pricing into new territory. South & Central American consumers, having lived through years of price fluctuations, will be confident they know what products and services should cost. They’ll demand brands go beyond EMPATHETIC PRICING, and allow the to participate in pricing. Afraid of discovering how much consumers truly value you? Use DEMOCRATIC PRICING in 2015 to show confidence in your offering and respect for your customers.”
That strategy could not exist without technology! Marketers need a flawless marketing solution, with analytics and campaign management tools to create real time interaction with the end user.
5. INSIDE OUT
“Latin Americans have been hiding (from urban violence) in malls, stuck in traffic, and cramped in condos for years. But since the 2013 protests in Brazil and Mexico, and Venezuela in 2014, residents are rediscovering the value of getting out. In 2015, urbanites will gather outdoors – from food markets to reclaimed parking spaces – to share experiences. Brands can contribute to making spaces clean, safe and delightful. 62% of Brazilian consumers would exchange the brand they usually buy, for one that improves their city, supports culture and wellness and offers free leisure. (Ibope/Conecta, August 2014) Help consumers take it outside!”
Here the mobile solutions will be the most important to create a great experience. Companies need to have information to make relevant mobile offers, while analytics tools and campaign management tools will also help.
6. PLAYFUL PERKS
“Brands in South & Central America often aim for a serious tone of voice to be viewed as professional or respectful. But the explosion of social networks (and brand-run accounts) changed what consumers expect from brands. Interactions with brands should be human: 73% of consumers in Brazil expect brands to build a meaningful relationship with them (Edelman, October 2014). In 2015, HUMAN BRANDS will go beyond joking with fans and followers online, and will excite consumers with playful perks and surprising interactions. Forget about the familiar formulae of perks. Your rewards must be provocative, exciting and playful to resonate.”
Be present on social networks and invest everything on that effort! Any social strategy needs to be accompanied by a workflow tool—not just an information tool—but a tool that interacts with all internally and externally focused team members. An Integrated Marketing Management tool will very important to support that kind of strategy.
7. CITY CONNECTIONS
“Thanks to the continuing urbanization of South & Central America, and the rhythm of big cities (lots of work, little time off), many residents hardly know their neighbors. In 2015, lonely urbanites will increasingly want to break down the social barriers that are part of city living. Brands that design their product or service as a way to integrate consumers in the social, public spaces of their city will be embraced. Is your brand ‘friendly’ enough to help city residents connect? The more connections you drive, the more you will be loved <3”
Wi-Fi solutions and mobile solutions are the best for that strategy. Once again, analytics and campaign management tools with customer interaction will be great.
8. OK COMMUTER
“The crossover between retail and transportation is surely one of the most exciting new areas to be explored in South & Central America. Inhabitants of São Paulo, Mexico City, Buenos Aires, Bogotá and Lima face a typical commute of 1 hour and 28 minutes. (Inter-American Development Bank, March 2014) Consumers in the region are embracing new forms of METRO MOBILITY (from taxi apps and shared rides to revitalized public transport). As the associated status around transport shifts from car ownership to unique experiences, the ability to shop en route will be an experience to becherished in 2015.”
So much time is spent on public transportation, but that mobility of your customer can be a breeding ground for marketing.
9. ONLIFE SERVICE
“How much time should you be on Facebook? Is it ok to text during dinner? Is your data safe? Online life has to be managed (see ONLIFE MANAGEMENT), and it takes time and attention for Latin Americans still discovering the superpowers of smartphone-assisted living. In 2013, Latin America saw a greater increase in smartphones sales than any other region. (Gartner, February 2014) In 2015, while consumers want brands to help them manage their online lives, they still expect to be served and assisted, with total convenience. Brands must help them use technology in ways that are safer, healthier and more productive.”
Digital channels and social networks are again a vital part of interaction between consumers and companies. Exposure on those channels must be monitored and analyzed to create a good experience. Big Data, analytics tools, campaign management and Integrated Marketing Management will be the basic needs to turn this strategy into a successful one.
10. BRAND STANDS
“According to Pew Research in June 2014, 72% of Brazilians are unsatisfied with the country. Events such as the World Cup and upcoming Olympics made consumers in South & Central America (not just Brazil) rethink the use of public space and their local infrastructure, causing a desperate desire to improve the region to match their national pride. Finding a solution is not only the government’s concern, people feel empowered to make changes themselves. And they want brands to step up and take a stand. In 2015, they will expect brands to prove they’re committed to the same causes they are. There are many issues out there – from bullying to bureaucracy – where will you take a stand?”
Companies need to reduce internal bureaucracy, have solid process flow (through an automatized process), embrace integrated marketing management tools and that transparency, and create compelling customer communications as a result.
“Trends Watching” (www.trendswatching.com) has outlined each point described here. Now, you can make the gap between IT and marketing just a little smaller. You can understand the solutions and needs any business must have, and you can be prepared for 2015’s challenges.
Have an excellent and successful 2015!
Source: “10 Latin Trends for 2015” – site www.trendswatching.com January 2015
The post SPOTLIGHT ON LATIN AMERICA: A look at Market Trends affecting Marketing in Central and Latin America in 2015 appeared first on Teradata Applications.