Latin America: A Potential Hub For Influencer Marketing
According to Google Trends, in one year, searches of the topic ‘influencer marketing’ have more than doubled. Moreover, the Instagram influencer marketing industry size is expected to exceed $1 billion by the end of 2017 and will more than double in 2019. As reported by Google Trends and seen in the image below, overall interest of the term ‘influencer marketing’ has seen significant growth in the last 5 years.
In terms of geographic location, influencer marketing is more developed as a marketing trend in North America and Europe, and on top of this, the top social media influencers worldwide are typically based in countries within these regions. When searching the topic ‘influencer marketing’ on Google Trends by region, one is able to see that North America, Australia, Western Europe (Germany, France, Spain) and some countries within Asia presented results, while, as seen in the image below, the only country in South America that generated results was Brazil and Argentina. This does not mean that other countries in the South America region did not have any results; however, compared to other regions at a global level, the search for “influencer marketing” as a topic was very small.
In fact, if one searches for “Latin American influencers” on Google, the search tool generates around 581,000 results compared to 3 millions results obtained if we search for “influencers in United States.” It is interesting to note that most of the results tied to Latin America influencers are related to economics, politics and business.
Therefore, one could then say that the influencer marketing trend in Latin America is still emerging but surely has a lot of potential, especially given the fact that this region has been increasingly seen as an uprising social media hub over the last years. Below are some interesting facts and trends regarding social media in the Latin American market:
1. Latin America is a “mobile first” region being the fourth largest mobile market in the world and having the most engaged social media users.
2. Internet users in Latin America spend more of their online time with social media than their counterparts anywhere else in the world, according to a research by eMarketer from 2015.
3. Latin American consumers do online search for reviews and recommendations when making purchase decisions, similar to consumers in the United States and Europe.
There is undoubtedly a big opportunity for international companies to diversify and take their brands to the next level with influencer marketing by exploring the Latin American market, given that it has proven to have more mobile-centric consumers compared to other regions around the globe. Even more importantly, this represents a huge opportunity for potential beauty, travel, fitness, food and other types of influencers within this region to flourish.
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