Special Partner Feature
On September 18-21, IMS held its Executive Program event at Stanford University’s Graduate School of Business, with 60 business leaders in the fields of media, marketing, and advertising participating. Executives in attendance included Abel Reis of Agencia Click Isobar, David Ray of GroupM, and representatives from Twitter, Foursquare, Netflix, MSN, OMG, Havas, Televisa, Prodigy, and Turner, among others, in addition to IMS staff.
The program's objectives, in the words of Mariano Román, COO of IMS, are to lead agencies and clients on a path of change and innovation in which social and mobile networks are effectively brought together with innovation.
Some of the topics discussed were how to change perceptions about the world of new digital media and generate more value; what is the role of digital media and what opportunities can it create; how to differentiate oneself in a market marked by highly competitive prices; and how to reverse the trend of digital advertising to turn it into a commodity market.
Jonathan Mildenhall, Vice President of Global Marketing and Creative Communications for Coca-Cola, opened the conference. Mildenhall talks in the above video about Coca-Cola´s online media strategies in Latin America and how is Coca Cola innovating in the region.
Mildenhall was followed by Prof. Baba Shiv, who noted that many consumer decisions are based on emotional reasons, and that individuals who are led by their emotions are the most secure when it comes to shopping decisions.
Prof. James Lattin (photo) of Stanford’s School of Business presented a case study of Starbucks’ marketing plan (1992-2002) as proof that marketing and innovation are essential to creating value in the minds of consumers.
In an interview with Portada, Mariano Román, Chief Commercial Officer, IMS Corporate; and David Rayo, Managing Director of GrupoM Interaction, LatAm and U.S. Hispanic, talked about the trend toward investing in digital companies located in Latin America.
The executives noted how the gap is widening between large companies investing in the purchase of smaller companies in Latin America and the effective traction generated by advertisers in that market, such as large mass market companies. In other words, there is a widening gap between investment trends and the actual behavior of advertisers, who tend to have a more conservative attitude.
Regarding the latter, Mariano Román says that while technological conditions for innovation exist in Latin America, there still aren’t many strategies and media mixes to be seen that deepen the opportunities offered by new digital media.
By the same token, David Rayo says that in terms of innovation, all the players (both digital service providers, and advertisers and agencies) tend toward a conservative approach that does not include risk-taking. He emphasized that technological innovation in Latin America is already present, but lacks effective implementation to derive the benefits offered by digital media.
Social Networks in Latin America – Foursquare and Twitter
Regarding the development of social networks in the region, Tristan Walker, Director of Business Development at Foursquare, talks about Foursquare’s development strategy in Latin America in the following video, as well as why it is important for Foursquare to have a presence in a region with high growth rates among users of social and mobile networks.
Guy Yaliff, Head of Product Marketing of Twitter also talks in the video below about the social networks´ development in the region and Twitter´s mobile strategies in Latin America. Twitter has 1 million active users every month in the region, and 55% of them have some of their activity on mobile. Yaliff also talks about Twitter´s advertising products like promoted tweets or trends and the emergence of Twitter as a new digital media.