Day two of our Latam Summit kicked off with a panel discussing Panregional marketing approaches.
Roberto Ricossa leader of Avaya said there are two ways to measure ROI:
- Objective – Use of detailed qualifications of a lead which they call BANT (Budget, Authority, Need and Timing.
- Subjective – Impressions, Opportunities, Conversion Rate.
Avaya is using innovative ways for people to get information. For example, if there are 3000 attendees at an event, an additional 3000-4000 are remotely logged in a virtual world.
The question was asked, “What are three characteristics for an agency?” Jose Costa, VP Marketing Latina America and Caribbean for Burger King stated:
- Financials – It is a number not a mindset.
- Understanding of operations – It is not important how many awards the agency has received.
- Using ears to listen more – Many agencies throw out ideas without understanding clients needs.
Beth Buyenco, Global Research Director for Microsoft advertising presented a study by Group M titled “Living With The Internet.” She said that the secret is to talk to the consumer and build a relationship with them. It is no longer about the information. Additionally, most consumers already have in mind what to look for when searching on the internet. Therefore it is good for brands to plan a better strategy since it is more purposeful.
Mariano Roman, CEO Latin America for Media Com emphasized the importance of reaching the consumer on a deep emotional level. It’s not how many people you reach. It’s how many people you touch. Consumers are ahead of us and they are not fools and you need to make them the center of relationships.
After our morning break, the spotlight was on content monetization presented by Diego Carvajal, Content and Digital Operations Manager at Casa El Tiempo, Colombia and Luis Merino, head of Music, Prisa Radio and on the Board of Trustees of the Latin Grammys.
The disparity of revenue between radio/print and the internet is tough because much information was given free. Diego Carvajal stated that it is the burden of the brands to prove to the consumer that content is relevant enough to pay for. El Tiempo is looking at tablets and E-readers to monetize. He emphasized that the money is in the experience of the device. Luis Merino added that the best experience for the consumer is that the customer never feels cheated and the need to exceed expectations.
The moderator, Paul Meyer, Director of Digital Media for Televisa Publishing suggested agencies look at the Interactive Advertising Bureau for buying ad units.
After lunch, Belen Amatriain, Global Marketing Director for Telefonica gave her keynote presentation on Latin America’s place in Telefonica’s global marketing.
Highlights of Belen’s talk:
- Efficiency of objectives have multiple layers: Consolidate media agencies, negotiation without intermediation, measure every day and talent.
- Strategies have resulted in reduced costs by 12% and improved optimization by 18%.
- Moved from extremely centralized to completely decentralized organization and are moving towards a middle course of global thinking and local delivery.
- New brand idea for Telefonica: The power to transform.
- New brand idea for Moviestar: Life is better when you share it.
- Change model of investment with agency remuneration from percentage to fee.
- Seven global initiatives: video and content, applications, cloud services, MTM(smart cities, electric cars), E-health, IT security and financial services.
Our panel discussion on Mexico’s future was moderated by Pablo Montefiore, President of Global Mind with panelists Matias Comella from Symantec and Maria Carrasquillo from Jarden Consumer Solutions.
Symantec is focused on point of sale and their objective is to build sustainable relationships to drive marketing. They are implementing new marketing vehicles such as Social Media. They use measurements for page views and booking conversions in e-commerce.
Jarden is implementing a digital strategy to complement other promotions such as You Tube videos with recipis for the Oster brand in order to engage the younger consumers.
On the panel discussion of ad categories and IT electronics, David Añon, Senior Director of Marketing, Latin America for Research in Motion said mobile is exploding in Mexico. With their new Blackberry playbook, the commercials show multitasking and flash capabilities.
Martin Pombo, Activation and Customer Marketing Manager for Nokia said the next big growth opportunity for LATAM is to go beyond bringing affordable voice and SMS. Although 90 % of the world’s mobile phone users are not using a “smartphone”, there is and will remain a huge market for feature phones with smart attributes. The challenge is to connect with consumers after years of using conventional phones.
Luis Guardia, Marketing Director of Samsung said there is a huge growth in tablets, potentially 25% growth every year, although PC’s will continue as the main device to create content vs. consuming content on tablets.
Our final panel was a fireside chat about Latam’s economic and political background with John Price, Managing Director of America’s Market Intelligence and interviewed by Michael Jones, CEO Latin America,MEC.
Highlights of the chat:
- Fastest credit card market in the world is Latin America.
- Credit creates a new market.
- E Commerce challenges are the latent fear of consumers to put their credit card number on the internet and logistics and fulfillment.
Challenges facing LATAM:
– Lack of credit and borrowing in dollars. $3 Trillion in savings sits outside of LATAM
– Commodity prices
– Monetary and fiscal policies
– Rule of law
After an information packed summit, we announced our winners of our Latam Advertising and Media awards with a final farewell toast sponsored by Microsoft Advertising.
Watch the 2011 Portada Highlights – Day 2!
The 2012 Latam Advertising and Media Summit is going to take place on June 6-7, 2012 in Miami. With the 2011 edition's attendees feedback in mind, Portada is working on providing even more quality content, refined networking opportunities and some surprises!