Mobile Marketing in Latin America and COVID-19 Challenges
In the middle of February, Softbank announced that it would continue investing in its $5-billion Latin America Fund, committing $1 billion just this year.
The renewed commitment of SoftBank to the Fund, which was launched last year, is further evidence that the Latin American market is all set with potential, specifically in health care, fintech and e-commerce sectors.
Such an investment wave may be following another inclination in the region, the swift employment of mobile technology.
Based on the survey Statista published, the population's share in Latin America who can access the mobile phone is seen to rise "from 67 to 73 percent between 2018 and 2025."
According to Mobile Growth Summit (MGS) CEO Jen Laloup, despite the economic obstacle that this COVID-19 pandemic continues wreaking on investors, not to mention expanding markets, "We wanted to speak with someone" who has the sights on the region in a sector predicted to grow in the coming years.
Specifically, Laloup spoke with the Latin America Reports to explain how the MGS is adapting to the reality of COVID-19 and continues setting its sights on the market.
Changes Since the Pandemic
As the world sees the pandemic spread, there comes the realization from MGS, supported by the Mobile Growth Association (MGA), to make considerable changes to flourish in this new reality. "Our Conferences and Events division," she said, has seen the most significant change during this challenging time.
A significant change in the company is having gone from hosting events worldwide to doing the same virtually. The CEO admitted, being in a virtual event space is something new to them. Thus, they have been learning and making new ways to help their community get connected even if everyone is physically apart.
Challenges the Organization and Its Clients Face
Fundamentally, a lot of the organization's sponsors, speakers, and attendees have been economically affected in some way from the COVID-19 pandemic. As a consequence, Laloup emphasized, one of the challenges their organization is currently experiencing "is how to do more with less."
In addition, the organization leader said they also find that adjusting to virtual events has been a struggle for many people in the community. Therefore, they've felt the need to exert more efforts to educate them on the advantages "of this new format" compared to what they've had to do when they were doing live events.
How the Mobile Growth Association is Hoping to Meet Clients' Needs
Currently, according to Laloup, they are still trying to help the community through the opportunities to get connected it provides the people. More so, the organization has learned and grown at this time when and where everyone is more isolated than usual.
Hopefully, the organization head said, virtual events will expand people's reach beyond a typical affair would since attendees can connect with businesses and network with, not to mention, learn from those they may never have usually got the chance to encounter.
Major Push for Mobile Growth Association to Expand into Latin America
Laloup admits having been continuously interested in expanding into Latin America. However, she added, they wanted to enter at the perfect time. MGA had its first event for this region, specifically in Miami, seven years back, and proudly, she said, this was quite a successful event.
Despite the even's success, the chief executive recounted, they "did not feel the markets in LATAM" had adequate publishers of a mobile app that are region-specific. However, Laloup shared they've seen the growth of Latin American apps changing the ecosystem of the region, specifically in the finance, ride-sharing, and food-delivery industries.
And with this growth of regional apps, the organization has recognized the emerging community that it can support by providing them with opportunities to learn from, and meat each other, as well as those from other countries.
The CEO shared, the pandemic may have made it impossible for them to be physically in Latin America this 2020. Still, they are certainly including the region in their upcoming MSG Global Virtual Conference happening in June, as their way to expand into, and show off the talent in the area.
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