Why tech marketers must focus on Latin America
If your company has not formulated its marketing strategy in Latin America, now is the time. This region is quickly emerging as a technology hotbed and Latin American buying teams are looking to vendors to inform and guide them as they navigate through the purchasing cycle.
Unmatched IT spending growth
Latin America IT spending is predicted by numerous analysts to achieve unmatched growth in 2013-2014. Rapidly emerging behind only the US and EMEA in growth in 2013, Latin America IT spending is expected to grow 42% and lead the world in spending growth in 2014.
As buying increases, so does the need for information
New technology projects are being launched every day and IT buying teams need to understand how to solve their company’s technology problems and evaluate specific solutions that address their needs. As a result, Latin American IT buyers have a voracious appetite for content. According to TechTarget’s latest Global Media Consumption report, 65% of Latin American buyers view a minimum of 4 content assets before beginning to formulating a vendor short-list. And 30% of buyers view 8 or more.
Vendors who can provide in-language content to Latin American buyers will win
Up until this point, the majority of buyers have mainly relied on English language content to educate themselves during the buy cycle. While the need for information has increased overall, Latin American buyers are wholly unsatisfied with the amount of content in their native language. Vendors who can fill this gap with translated content will emerge as leaders in this region. As a publisher, TechTarget has experienced this trend firsthand around our launch of an in-language site in Latin America earlier this year. Within 6 months of launch, there was a 550% increase in organic traffic. These buyers are thirsty for knowledge and they will gravitate to anyone who can provide it.
Latin American technology buyers want to hear from you now
Latin American buyers trust information provided by vendors more than anywhere in the world and are open to engaging with vendors early and often in the buy cycle. Unlike other regions, they are not as skeptical of vendors and see them as an essential guide and resource.
Potential prospects and customers have raised their hand and told you they want to hear from you. It’s time to engage them.
If you are interested in continuing this conversation or learning more about this tremendous market opportunity, feel free to contact me here.
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