Patrick O'Neill Managing Partner of Sherlock Communications and named Latin America’s Best PR Professional 2020 by PR Week Global Awards
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The pandemic has had a massive impact on many facets of life here in Latin America. People are still feeling the economic aftershock in one of the most unequal regions of the world in terms of income parity. Social distancing policies meant that many lost their income stream, and even if some social welfare payments were available for a time, cash transfers didn’t balance against mushrooming inflation on supermarket shelves.
The education sector in Latin America took a particularly heavy hit following a period of notable improvements in terms of retention and academic attainment in recent years. Many young people lost up to two years of class as well as important social and developmental milestones. Two and a half years later, it seems we’re out of the deep end and school is back in session, but there’s a lot of ground to be made up, often with strained resources or diluted political will.
We’ve noticed a considerable uptick of education-related entities from around the world approaching us for help with Latin America market entry strategy development and education-themed communications campaigns. We’re meeting with universities, edtechs and governmental agencies that want to make a difference in the region with their specific solution. There is plenty of opportunity, that’s for sure.
But the same adage is true for education as for most other areas of business: One size does not fit all. If I had a dollar for every time I have to say that to companies during initial meetings, well, it would be nice (I could give the cash to a nice education project). Not only is Latin America unique—culturally, socially, economically and geographically—from other global regions, but there are also considerable differences—even huge variations—between the countries in this continent. A product might sell just as well in Chile as in Mexico, but it makes sense to do the homework first.
Look at Brazil, for example—a continental-sized landmass at least 15 times the size of France with a population of more than 212 million people. It can’t really be considered a single market, as there is such variation within the nation. The top 25 in Brazil’s rich list have a combined worth of nearly $119 billion, while 33 million people are hungry. And then there are the millions in between. The point is, before developing an effective communications campaign, it’s important to do some homework. Pinpoint who is most likely to identify with your solution, know what they need, how they need it, and most importantly, how to reach them.
Clients need to get to know the market before jumping into a launch or a national media campaign, especially in the area of education. Our in-house education expert keeps telling clients that there is no point in flooding any market with solutions it doesn’t need or at prices that don’t fit. It’s important to know where you fit among your competition and what your unique selling point is.
The data is there, but it’s good to know where to find it, how to assimilate it, and most importantly discover where your solution fits into real market needs. It’s also vital to talk to your target audience before spending a fortune on campaigns that risk missing the mark. Smart market research is key to success.
Untapped Opportunities For Education Entities
Latin America is an ideal destination to market education services and solutions, from international mobility to transnational micro-credentials. There are many documented skills shortages and no lack of market space for intelligent solutions that match a real need. In fact, even noneducational companies that come to Latin America with other wares to sell can consider supporting local education projects if they wish for meaningful engagement with their target audience.
When we spoke to more than 3,000 people across six countries (Argentina, Brazil, Chile, Colombia, Peru and Mexico) in Latin America last year while producing our e-book on corporate social responsibility, 2 out of 3 people highlighted education as the most pressing issue that they considered international companies should invest in. UNESCO identifies this field as the key pathway to addressing global entrenched inequalities. It’s refreshing to see so many clever ideas being offered by new players in education in Latin America. But, just make sure to do your homework first.
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