What does this forecast mean for marketers in Latin America?
Social networks are extremely popular in Latin America and offer marketers a fundamental tool to engage with consumers during various stages of the buyer journey, from product discovery to post-purchase.
“TikTok started off as a relatively unknown social platform, but it quickly took Latin America by storm,” said Matteo Ceurvels, Insider Intelligence’s senior analyst for Latin America and Spain. Now, with more than 100 million users in the region, companies can no longer exclude TikTok from their digital marketing strategies. "It needs to be center stage," Ceurvels said.
The time has come for brands to reinvent themselves on TikTok. With the September 2021 launch of TikTok For Business in Argentina, Colombia, Chile, and Peru, marketers in these countries can now use a wide range of digital advertising solutions—including TikTok Marketing Partners and its creator marketplace—to make authentic connections with new audiences.