In this posting, I will discuss social media usage in Latin America, which as you may know will be an integral part of the US MRKT territory (to start with), since we intend to launch the site and the app in both English and Spanish from the outset. I will cite to a great article by Michelle Evans that appeared in Forbes on August 10, 2017 entitled “3 Things You Need To Know About Latin America Digital Consumers”.
I really believe that the market opportunity from Latin America (LATAM) in terms of recruiting US MRKT SAs and customers is immense, for several reasons:
According to Green, “wealth and youth are more highly concentrated among digital consumers in Latin America as compared with their non-digital counterparts. Latin American digital consumers are more tightly concentrated in the 25-34 age bracket than other regions.” In addition, the average income for a Latin American digital consumer is USD $42,000, about USD $14,000 more than their non-digital consumer counterpart – the greatest disparity found between the two groups in any region.” For this and other reasons set out below, there is a clear link between buying power and social media as a selling tool.
Green points out 3 factors that favor LATAM social media use including for selling.
US MRKT is committed to engaging with these consumers and creating a definable presence in LATAM, especially in generating interest for future SAs who will become the US MRKT ambassadors going forward.