The allure of Brazil is undeniable—and we’re not just talking about its sprawling dune beaches, Carnival costumes or football prowess.
If you’re considering which new international markets to add to your localization strategy dance card, you’d do well to consider Brazil. Recent research by PricewaterhouseCoopers indicates that Brazil will become the fourth-largest global economy by 2050.
Economic setbacks and social unrest notwithstanding, Brazil remains a strong player on the global business stage, surging with almost-limitless potential. You stand to benefit greatly by expanding into this vibrant and vigorous emerging market.
We’ve got four big reasons why you should work Brazil into your localization strategy.
1. Startups and the global Internet economy
Brazil has its fair share of startups bubbling over with exciting ideas. There’s even a Silicon Valley-hopeful—San Pedro Valley in the city of Belo Horizonte—composed of about 50 young tech firms. For these up and comers, it’s all about technology and the country’s growing Internet use. Great potential exists on both fronts.
When it comes to Internet users, Brazil is ranked fifth in the world with around 100 million ‘Net surfers. It’s also Latin America’s fastest-growing mobile market, with 267 million mobile users.
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What does this mean for your localization strategy? It may be a good time to translate your digital assets into Brazilian Portuguese to get in front of these audiences. Specifically, localizing your website and mobile apps for the Brazilian market could bring in greater revenue.
We’re also seeing online education technology moving to a faster beat. For example, Izzui, a Brazil-based startup with a Facebook learning platform app, already has over 210,000 users and 500 published courses. As more people go online, expectations for accessible education will rise, creating higher demand for eLearning localization.
2. Host to two big parties means ample marketing opportunities
As most in the free world know, Brazil will host the 2014 World Cup and the 2016 Olympic Games. It’s great news for the national economy since Brazil is funneling approximately $15 billion into the two events. But it’s also a boon for global businesses looking for new modes of brand exposure.
For the World Cup alone, an estimated 600,000 visitors and three million Brazilians will be milling about and taking in the sights. That’s a lot of potential new customers. If it lines up with your global marketing localization strategy, it may make sense to cater your campaigns for these audiences.
The 2012 London Olympic Games already set a precedent for marketing success. Consider Nike, which featured average (non-star) Olympic athletes in its social media and gained 166,718 Facebook fans during the Games.
3. Bustling consumer market
Those upcoming world events aren’t the only influencers quickening the pulse of Brazil’s consumer market. The country boasts a massive young urban population and a growing middle class. Regarding that latter group, research says its annual spending power will rise to about 3.2 trillion Brazilian reals or $1.6 trillion by 2020.
Of course, you don’t need a degree in economics to know that rising consumer wealth means greater demand for goods and services. If you were thinking about localizing your products for the Brazilian market as part of your localization strategy, now would be a prime time.
4. Big social shopper scene
Brazilians aren’t just crazy for Carnival, Brazil’s week-long festival that draws huge crowds each year; they’re completely enamored with using social media to shop. A whopping 81 percent of them use social networks to search for new products and engage with brands. Only the U.S. has more tweeters than Brazil.
With nearly 100 percent of Internet users in Brazil on social media, you’d be wise to work this into your localization strategy. Setting up a social presence geared to Brazilians and translating your social media places you squarely in their social sights. Not only are you broadcasting your brand, you’re also actively listening to your audiences and, even better, engaging in conversations with them.
While doing business in Brazil does mean high tax rates and complex laws, the country’s strengths undeniably point to long-term growth. After all, it’s Latin America’s largest and most developed economy with a burgeoning consumer market.
When it comes to your expanding localization strategy, Brazil’s quickly emerging global presence makes for a very tempting dance. Are you ready to join in?
Sajan has taken many companies into Brazilian territory, and we’d love to lead you into this exciting arena too. Questions? Drop us a comment below.