To build a successful sales strategy, with a view to expanding your FOREX and CFD company in Latin America, it is important to know the particularity of this market, as the idiosyncrasies of its inhabitants and the nuances of their various cultures.
In addition, you have to consider the options in terms of the means and strategies that you have, to be able to speak in the same language and put yourself in the shoes of the Latino investor. Let’s see how to achieve it.
It can be said that in Latin America, there is a great cultural diversity. However, four major areas are observed. It is important to know a little about each of them, because in order to design a successful sales strategy, we must know who we are targeting.
Caribbean culture
This is the name given to the towns that are on or towards the coast of the Caribbean Sea. This includes northern Venezuela and Colombia, Panama, Costa Rica, Nicaragua, Guatemala, part of Mexico, Dominican Republic, Haiti, Cuba, and other English and French-speaking islands (Jamaica, Bahamas, Guadeloupe, Martinique and many more).
In the Caribbean culture, the relationship with the beach stands out. Also, there is a great tourist activity. The preferred music is salsa, merengue, Calypso and reggae. People from the Caribbean are usually cheerful and like to party. It is a culture more open to foreign influences.
Andean culture
Another big block is made up of villages located along the Andean Mountain Range: western Venezuela, central Colombia, Ecuador, Peru, Bolivia and Chile. Undoubtedly, the climate of the mountains affects not only their clothing but also their diet, and even their more leisurely way of speaking.
In Andean music, the presence of the indigenous substrate is also more evident. It is said that the Andines are, in contrast to those on the coast, more conservative and traditionalist.
Amazon
The Amazon, as the Amazon River basin is called, is a vast territory of more than seven million kilometers. It covers the south of Venezuela, eastern Peru, the three Guianas, Bolivia and most of Brazil.
This is a jungle area. There are many native peoples, who speak their own languages rather than Spanish or Portuguese. There is also a lot of mining and logging activity.
The southern cone
The territory of what is Chile, Argentina as well as Uruguay, is the southern cone of Latin America. Occasionally Paraguay is included under this concept, as well as a part of Brazil, specifically São Paulo.
A peculiarity of this area is that during the nineteenth century, it was the destination of large migratory movements from Europe, this is very much reflected in their culture. This, for example, is observed in the art of winemaking and the consumption of wine, which is much higher than in the Caribbean area, to make a comparison.
As well, these are the countries in South America that have the best standards in terms of the quality of life of their inhabitants. In fact, Uruguay is the first country in the region in terms of Nominal GDP per capita (in 2022, according to the IMF), followed by Panama, then Chile and Argentina.
Although the Spanish and Portuguese languages predominate (400 million and 200 million speakers, respectively), there are many nuances and variants, especially in the first of these languages, used in almost twenty countries.
Thus, in a successful sales strategy to expand a FOREX and CFD company in Latin America, another important consideration that should be made, from the linguistic point of view, is the way each of them speaks. In this sense, not only the language must be thought about, but also the lexical, syntactic and morphological turns. An example of this is the Argentinian voseo.
Social networks are, nowadays, the first option that all business organizations consider when designing a marketing campaign. In relation to this topic, it is interesting to note that Latin Americans are big users of social networks.
Here are some figures on this:
The FOREX and CFD markets have been growing in Latin America. This is evidenced by the increasing number of brokers targeting this important region, with a potential universe of 650 million consumers.
However, we must not only think about the qualities or characteristics of the product. Also, as we have been able to see, special attention should be paid to who the recipient of the message is (their culture and way of being), the code (that is, the language) and the channel, through social media.
All this will help, eventually, to design a more successful and effective sales strategy, to expand your FOREX and CFD company in Latin America.
Another big block is made up of villages located along the Andean Mountain Range: western Venezuela, central Colombia, Ecuador, Peru, Bolivia and Chile. Undoubtedly, the climate of the mountains affects not only their clothing but also their diet, and even their more leisurely way of speaking.
Social media marketing
Social networks are, nowadays, the first option that all business organizations consider when designing a marketing campaign. In relation to this topic, it is interesting to note that Latin Americans are big users of social networks.
Here are some figures on this:
– The most used social networks in Latin America are YouTube, Facebook, WhatsApp, Instagram and Twitter.
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