Latin America | Page 5 of 5

Hi5 Strikes Deal with Televisa Interactive

06/05/2009/in Digital Marketing, Marketing, Social Media/by Target Latino

Spanish-language media company and social networking site team up for exclusive video agreement.

Hi5 has joined Televisa Interactive Media, the Spanish-speaking media company, and announced an exclusive online ad deal this week.Televisa said Wednesday that it would become Hi5’s exclusive online advertising inventory representative in Hispanic Latin America. The two companies said that they will launch a co-branded premium video channel for Hi5 users with a library of full-length and short videos from Televisa.

The channel is scheduled for launch this summer and microsites will follow.Together, the two companies said they reach more than 33 million unique users each month in Hispanic Latin America. Internet use in those countries grew by up to 16.6% last year, according to ComScore. That compares with North America’s growth of 5.7% for last year, according to ComScore’s figures.

“Hi5 is an ideal content and traffic extension that perfectly complements our best-in-class suite of promotional solutions for advertisers and brands in this region,” Juan Saldivar, general manager of Televisa Interactive Media, said in a statement released Wednesday.

Televisa said that most of the videos are available through Esmas.com and through its vertical video site Tvolucion.com. Those channels are available in the United States, but the new video channel will not be available to U.S. users.

“This business relationship solidifies our leadership position in Latin America and delivers compelling content to our huge Spanish-language audience,” Ramu Yalamanchi, founder and chief product officer at Hi5, said in a statement released Wednesday. “Televisa’s experienced sales team and deep industry relationships will help us maximize our revenue potential in the Latin American market.”

remember this

Source: Information Week (By K.C. Jones )

Cultural differences: its impact on Customer acquisition and retention

06/05/2009/in Hispanic Culture, Marketing/by Target Latino

by Claudia Havi Goffan

A close look at how Cultural Differences impact Customer Acquisition and Retention Strategies.

When I arrived to the U.S., 18 years ago, I opened a checking Account with Bank of America. It was obvious. The name, Bank of America, carried in it a familiarity that no other bank did. I, too, was born in America, the continent of America. What people do not know is that in Latin American schools teach you that America is a single continent divided into three parts, North, Central and South America. This is the reason that you may have heard Latinos say: “we are American too.” Back to my story, Bank of America, one; other banks, zero.

A few months later, and having maintained what I thought was an excellent relationship with the bank, I decided to fill out an application for a credit card, “the Bank of America VISA.” After three long weeks, I received a letter stating that my application had been denied without a reason given. I got really upset and went to the bank to let hell loose. I had been a wonderful customer and had more than enough money in my account—and they knew it- in order to respond to whatever spending limit they could give me. The answer was: “You need to call Visa, we (Bank of America) don’t have anything to do with this.” I immediately called Visa and was told that my request had been denied because I didn’t exist. “Didn’t exist? But here I am, I exist,” was my response with utter disbelief. The lady explained that I didn’t have a credit history. Until then, I never knew a credit history existed. No such concept existed in my home country where people purchase a home with cash and they don’t pay their bills with checks, as they will get “lost” in the mail (but that’s a different story and the beginning of more cultural differences). In the end, I realized that I wasn’t going to get my credit card with Bank of America or VISA. What a disappointment. And, what an insult to tell me I didn’t exist.

I decided to fill out an application with American Express. Two weeks later, a person from American Express called me at home and wanted to know why they couldn’t find any credit history on me. Now, that’s service! I told her I had lived in the U.S. for just a few months. She replied: “Perfectly understandable. You will receive your card in the mail within 2 weeks.” Needless to say, I never forgot my experience with VISA or with American Express. I have been a loyal customer of American Express since 1991, always preferring to use my AMEX to any other credit card.

Lesson to be learned: Listen to your customers. Cultural differences may be found where you least expect them. You may get lucky the first time, the second time around, you’d better know what you are doing.

A bit of background on the Latin American financial system

The concept of a credit history was introduced only a few years ago in Latin American countries.

There are financial infrastructure obstacles common to the Latin American region, such as uneven income distribution, low penetration of the banking system, low computer usage, and very famous “informal” economies that function only in cash. Remittances from family members abroad only increase the number of cash transactions.

The banking crisis of Argentina, Brazil, Chile, Colombia, Mexico and Venezuela in the late 1990s enabled a large financial reform and the modernization of the financial infrastructure. One of the changes was the adoption of credit history.

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Thought of the day

you think you are smart until you try to turn on someone else’s shower

10% of the conflicts are due to difference in opinion and 90% to wrong tone of voice

Hi5 Strikes Deal with Televisa Interactive

06/05/2009/in Digital Marketing, Marketing, Social Media/by Target Latino

Spanish-language media company and social networking site team up for exclusive video agreement.

Hi5 has joined Televisa Interactive Media, the Spanish-speaking media company, and announced an exclusive online ad deal this week.Televisa said Wednesday that it would become Hi5’s exclusive online advertising inventory representative in Hispanic Latin America. The two companies said that they will launch a co-branded premium video channel for Hi5 users with a library of full-length and short videos from Televisa.

The channel is scheduled for launch this summer and microsites will follow.Together, the two companies said they reach more than 33 million unique users each month in Hispanic Latin America. Internet use in those countries grew by up to 16.6% last year, according to ComScore. That compares with North America’s growth of 5.7% for last year, according to ComScore’s figures.

“Hi5 is an ideal content and traffic extension that perfectly complements our best-in-class suite of promotional solutions for advertisers and brands in this region,” Juan Saldivar, general manager of Televisa Interactive Media, said in a statement released Wednesday.

Televisa said that most of the videos are available through Esmas.com and through its vertical video site Tvolucion.com. Those channels are available in the United States, but the new video channel will not be available to U.S. users.

“This business relationship solidifies our leadership position in Latin America and delivers compelling content to our huge Spanish-language audience,” Ramu Yalamanchi, founder and chief product officer at Hi5, said in a statement released Wednesday. “Televisa’s experienced sales team and deep industry relationships will help us maximize our revenue potential in the Latin American market.”

remember this

Source: Information Week (By K.C. Jones )

Cultural differences: its impact on Customer acquisition and retention

07/15/2008/in Hispanic Culture, Marketing/by Havi Goffan

by Claudia Havi Goffan

A close look at how Cultural Differences impact Customer Acquisition and Retention Strategies.

When I arrived to the U.S., 18 years ago, I opened a checking Account with Bank of America. It was obvious. The name, Bank of America, carried in it a familiarity that no other bank did. I, too, was born in America, the continent of America. What people do not know is that in Latin American schools teach you that America is a single continent divided into three parts, North, Central and South America. This is the reason that you may have heard Latinos say: “we are American too.” Back to my story, Bank of America, one; other banks, zero.

A few months later, and having maintained what I thought was an excellent relationship with the bank, I decided to fill out an application for a credit card, “the Bank of America VISA.” After three long weeks, I received a letter stating that my application had been denied without a reason given. I got really upset and went to the bank to let hell loose. I had been a wonderful customer and had more than enough money in my account—and they knew it- in order to respond to whatever spending limit they could give me. The answer was: “You need to call Visa, we (Bank of America) don’t have anything to do with this.” I immediately called Visa and was told that my request had been denied because I didn’t exist. “Didn’t exist? But here I am, I exist,” was my response with utter disbelief. The lady explained that I didn’t have a credit history. Until then, I never knew a credit history existed. No such concept existed in my home country where people purchase a home with cash and they don’t pay their bills with checks, as they will get “lost” in the mail (but that’s a different story and the beginning of more cultural differences). In the end, I realized that I wasn’t going to get my credit card with Bank of America or VISA. What a disappointment. And, what an insult to tell me I didn’t exist.

I decided to fill out an application with American Express. Two weeks later, a person from American Express called me at home and wanted to know why they couldn’t find any credit history on me. Now, that’s service! I told her I had lived in the U.S. for just a few months. She replied: “Perfectly understandable. You will receive your card in the mail within 2 weeks.” Needless to say, I never forgot my experience with VISA or with American Express. I have been a loyal customer of American Express since 1991, always preferring to use my AMEX to any other credit card.

Lesson to be learned: Listen to your customers. Cultural differences may be found where you least expect them. You may get lucky the first time, the second time around, you’d better know what you are doing.

A bit of background on the Latin American financial system

The concept of a credit history was introduced only a few years ago in Latin American countries.

There are financial infrastructure obstacles common to the Latin American region, such as uneven income distribution, low penetration of the banking system, low computer usage, and very famous “informal” economies that function only in cash. Remittances from family members abroad only increase the number of cash transactions.

The banking crisis of Argentina, Brazil, Chile, Colombia, Mexico and Venezuela in the late 1990s enabled a large financial reform and the modernization of the financial infrastructure. One of the changes was the adoption of credit history.