Central America is emerging as a key region for market research, driven by its expanding economic activity, strategic location, and evolving consumer behavioral patterns. The region's diverse cultural and economic landscape presents opportunities for companies and investors to better understand local consumers.

A key factor fueling this interest is the rapid growth of sectors like e-commerce, financial technology (fintech), and tourism. Consumers’ accelerated adoption of new technologies has transformed their purchasing habits, generating an increasing demand for accurate data. Companies anticipating and adapting to these trends will be well-positioned to align their strategies and products with local tastes, maximizing their market potential.

Quantitative Market Research Challenges

However, market research in Central America also presents several challenges. Because the region is comprised of countries with highly diverse economies and cultures, tailored approaches are required for each market. The lack of uniform infrastructure and unequal access to high-quality data can also complicate the collection and analysis of information, making it difficult to obtain clear and reliable insights.

Additionally, when recruiting panelists from lower socioeconomic sectors, limited access to technology and digital media restricts participation in online surveys. This can be addressed by deploying qualitative market research recruitment methods.

Research Opportunities

Despite this, the rise in digital technology usage in the region represents an opportunity for conducting quantitative research through online panels. Social media and digital platforms, such as Facebook and Instagram, are effective tools for reaching potential panelists, and collaborating with local influencers can enhance credibility and reach. Additionally, establishing partnerships with local organizations and offering attractive incentives can facilitate recruitment, as can implementing referral reward programs.

In addition to expanding the participant network, conducting preliminary surveys and focus groups can provide a deeper understanding of potential panelists' preferences and behaviors, allowing for more effective strategy adjustments.

Privacy is critical to the success of online panels in the region. Ensuring confidentiality and transparency in data handling is essential to building trust, which impacts several factors like panel size and survey completions. Adapting the recruitment process to mobile devices is also important, given the growing use of phones in the region.

Finally, continuously monitoring and adjusting strategies based on feedback and market changes will help overcome specific challenges and obtain representative and valuable data for research.

The Takeaway

Central America offers significant opportunities for companies exploring new markets. While challenges exist, those who invest in understanding the region's dynamics through market research will gain valuable insights, enabling them to navigate this environment effectively. Success hinges on adapting research strategies to each country's unique characteristics and overcoming obstacles with innovative solutions.

Latino voters are emerging as an influential force in U.S. elections, and political parties should take notice. The percentage of Latino voters in the U.S. electorate is expected to grow from 10.6% in 2020 to 11.1% in 2024. In key swing states like Nevada and Arizona, they already make up 18.7% and 23.5% of voters, respectively. This growth is expected to continue in the foreseeable future. This growing demographic has the potential to sway the outcome of key races, particularly in swing states.

To gain deeper insights into their voting behavior, ThinkNow and Culture IQ Group teamed up to conduct a nationwide online survey among 1,120 likely Latino Voters in the 2024 election cycle and follow-up qualitative interviews to delve deeper into their political identity.

Download the report here.

This comprehensive Latino research study sheds light on the key issues that resonate with Latino voters, their communication habits, and their attitudes toward the upcoming election. Here's what we learned:

Shared Values

Latino voters across the political spectrum share common values, with patriotism and belief in the American Dream serving as unifying themes. Regardless of party affiliation, Latino voters view themselves as hard-working individuals who are committed to improving their lives. This belief in the power of hard work is complemented by a recognition that the government can play a role in enhancing their quality of life.

The survey, however, also revealed a generational shift in other values, like religion. Religiosity is waning, particularly among younger Latinos and those who primarily speak English. This trend may influence how candidates address social issues and frame their messaging to appeal to different segments of the Latino electorate.

The Economy, Healthcare, Democracy, and Social Issues

When it comes to the issues that matter most, Latino voters are focused on both economic and social concerns. Unsurprisingly, the economy and affordable healthcare remain top priorities for this demographic. With the recent spike in inflation and rising healthcare costs affecting many households, Latino voters are looking for candidates who can address these pressing challenges.

In addition to economic concerns, issues related to democracy and social justice are also top priorities. A significant number of Latino voters identified protecting democracy and keeping abortion legal as key concerns. This reflects the broader national conversation about voting rights, election integrity, and reproductive rights.

Latino voters also demonstrated support for the LGBTQ+ community, particularly among Latino Democrats and those who consume English-language media. This support extends to diversity and inclusion efforts in hiring practices, with Latino voters from all political backgrounds expressing a commitment to ensuring fairness and representation in the workplace.

Immigration, a perennial issue for Latino voters, revealed nuanced perspectives. Latino Republicans are more likely to prioritize tighter border security, while Spanish-dominant Latinos express stronger support for immigrants and refugees. Meanwhile, Democratic and Independent Latino voters back a path to citizenship for undocumented immigrants. These diverse viewpoints highlight the importance of understanding the varied experiences and priorities within the Latino community.

Political Views

The survey also explored Latino voters' attitudes toward the electoral process and candidates. Notably, 57% of Independent Latino voters expressed doubts about whether the 2024 presidential election will be free and fair. This skepticism reflects broader concerns about election integrity and disinformation, which have become prominent issues in recent election cycles.

Awareness of former President Donald Trump's criminal conviction is widespread among Latino voters, with 90% acknowledging it. Among younger and Independent voters, this has led to a significant decrease in support for Trump. The reverse is true, whoever, for Latinos who identify as Republicans with Trump’s criminal conviction increasing his support.

Communication Channels

Understanding how Latino voters consume political information is crucial for campaigns looking to engage this key demographic. Television news remains the top source of political news for Latino voters, underscoring the continued relevance of traditional media. However, digital platforms are also gaining ground.

YouTube and Facebook are among the most popular online platforms for political news, particularly among Latino voters. These platforms offer a mix of video content, news articles, and social media engagement, allowing voters to access information in various formats.

TikTok, a platform known for its short-form videos, is making inroads with Latino Democrats, Independents, and Gen Z voters. Its rising popularity as a political news source reflects broader trends in how younger voters engage with information, favoring quick, accessible content over traditional news formats. This presents both opportunities and challenges for campaigns aiming to connect with these voters in meaningful ways.

The Undecideds

Undecided Latino voters present a unique challenge for both parties. While they share concerns about the economy and affordable healthcare, these voters also align more closely with progressive stances on abortion rights, similar to supporters of Vice President Kamala Harris.

Despite their support for progressive social issues, undecided Latino voters tend to describe themselves as "traditional," reflecting a complex interplay between their personal values and political preferences. Understanding this balance is crucial for campaigns looking to sway undecided Latino voters in the final stretch of the election.

Swing State Voters

Latino voters in swing states represent a particularly important group, with the potential to determine the outcome of the 2024 election. However, their views are not monolithic. The survey revealed that country of origin and descent vary widely among Latino voters in these states, influencing their political preferences and priorities.

For example, Latino voters in North Carolina demonstrated the highest levels of support for progressive issues, including LGBTQ+ rights and abortion access. They are also the most likely to support a path to citizenship for immigrants already in the country and are more likely to consume Spanish-language media than their counterparts in other states.

In contrast, Latino voters in Michigan are particularly focused on protecting democracy, reflecting concerns about election integrity and the future of democratic governance. These state-specific differences highlight the importance of tailoring campaign messages to resonate with Latino voters' unique experiences and priorities.

Gaining Latino Voters’ Support

There is no question that Latino voters will play a crucial role in shaping the outcome of the 2024 presidential election. While economic issues remain top of mind, Latino voters are also equally invested in social justice and democracy-related issues, making them a key contingent to engage in the months ahead. While Latinos share many core values, winning political strategies lie in understanding their differences. Campaigns that can effectively connect with Latino voters on the issues they care about will be well-positioned to secure their support in this pivotal election.

Download the report here.

Understanding consumer trends and preferences through market research has always been important to marketers. But it's become a business imperative in today’s hyperconnected, competitive marketplace. While countries like Colombia, Dominican Republic, Peru, Chile, Ecuador, and Mexico have led the way in market research investment in Latin America, we must acknowledge the strides made in Central America, notably in Guatemala, Honduras, El Salvador, Costa Rica and Panama.

What’s driving the growth?

Well, several factors are at play. The widespread expansion of the internet has opened up a wealth of data on consumer behavior and market dynamics, now easily accessible with just a few clicks!

Furthermore, the growth of the middle class in the region has generated more sophisticated consumer demands. With a population whose tastes and preferences are constantly evolving, companies must stay up to date. Market research insights are the compass guiding their journey.

Finally, the reduction in extreme poverty in recent decades has been a significant factor. This change has increased consumption and attracted greater domestic and foreign investment, creating a virtuous cycle where economic expansion fuels the imperative for deeper insights.  

How do you navigate the challenges?

Like any journey, navigating market research across LATAM has its share of bends and twists in the road. Access to representative samples of the online population remains an obstacle. Disparities in internet connectivity can skew research results, posing a hurdle to obtaining accurate insights.

As such, data quality is fundamental. With the vast amount of information available online, it is crucial to ensure that the data is reliable and accurate. After all, no one wants to make important decisions based on faulty information.

Additionally, there's an ongoing tug-of-war between traditional methods and online research. Convincing companies to embrace new technologies can be daunting, yet exploring all avenues is essential to paint a comprehensive picture of the market landscape.

What are the market research fundamentals?

First, find an experienced business partner with a track record of providing reliable and representative samples in Central America, like ThinkNow. In addition, instead of seeing online research and traditional methods as adversaries, inquire how both approaches can be integrated to attain a more comprehensive and precise understanding of the market.

Lastly, adopt a balanced approach. While the growth of market research in Central America presents exciting opportunities, sustaining this momentum and fostering its contribution to regional economic development requires addressing industry-wide challenges across LATAM. Collaboration between the public and private sectors is imperative to harness the potential of online research across the region.

References:

World Bank. "Central America: Investment and Economic Growth".

Latin American Institute of Market Research and Public Opinion (ILAM). "Report on the Growth of Market Research in Central America".

López, A. (2022). "The impact of the expansion of the Internet on market research in Latin America". Journal of Economic Studies, 15(2), 45-60.

¡Abrochen sus cinturones, investigadores! Porque el 2024 promete ser un año emocionante de evolución en el mundo de los paneles online y la investigación de mercado. Desde la inteligencia artificial hasta la seguridad de los datos, estas cinco tendencias clave están listas para reescribir las reglas del juego.

1. IA & Big Data: Viendo el futuro con precisión

La inteligencia artificial está avanzando a pasos agigantados, y la investigación de mercado cosechará los beneficios. Imagina un futuro en el que los investigadores no solo puedan anticipar, sino también identificar con precisión las próximas tendencias de consumo a través de análisis predictivos avanzados y metodologías de investigación personalizadas. Estos enfoques desbloquearán los pozos de datos más profundos, permitiendo que el big data se destile en tiempo récord y con una precisión sin precedentes. La IA está promoviendo una comprensión más profunda del comportamiento del consumidor e impulsando la investigación hacia adelante.

2. Paneles de nicho: Profundizando en mercados diversos

¡Di adiós a las estrategias únicas para todos y hola a la especificidad! En 2024, los investigadores adoptarán estrategias inclusivas que permitan profundizar en demografías, intereses y comportamientos diversos, descubriendo información más valiosa. Los paneles diseñados para grupos nicho como hispanos, asiáticos afroamericanos, LGBTTTIQ+, latinos viviendo en el extranjero, trascenderán fronteras, amplificando las voces de consumidores multiculturales y multidimensionales en todo el mundo, asegurando que los grupos subrepresentados tengan su lugar legítimo en la mesa de investigación.

3. Engagement & Gamification: La investigación reinventada como juego

La investigación puede ser atractiva, y las encuestas no tienen por qué ser aburridas. Las herramientas de investigación del futuro crearán experiencias interactivas que transformarán la recopilación de datos en luchas de comida de realidad virtual y rompecabezas estilo escape room. Los encuestados no solo participarán, sino que competirán por un lugar en la arena virtual. Las recompensas también cambiarán, moviéndose más allá de los incentivos en efectivo hacia contenido exclusivo, acceso temprano a productos o incluso moneda dentro de la plataforma canjeable por experiencias virtuales o puntos de fidelidad que desbloquean vacaciones en realidad virtual. Sin embargo, este engagement va más allá del disfrute personal. Cultivar un espíritu de comunidad entre los miembros del panel es crucial para establecer un ecosistema de investigación vibrante donde la colaboración y el intercambio de conocimiento prosperen.

4. Blockchain & Seguridad de datos: Priorizando la confianza

Un gran poder conlleva una gran responsabilidad, y la confianza es primordial cuando se trata de datos. En este contexto, la tecnología blockchain emerge como un potencial disruptor, ofreciendo una gestión descentralizada de datos que devuelve el control a los encuestados. Piensa en una fortaleza de datos asegurada por claves criptográficas, otorgando a los individuos la custodia exclusiva de su información. Este cambio de paradigma eleva la privacidad en la jerarquía, asegurando prácticas de recopilación de datos transparentes y seguras que sustentan una experiencia de investigación valiosa. Sin embargo, la batalla contra los malos actores no se gana simplemente con la descentralización. Los protocolos avanzados de detección y eliminación de fraudes deben permanecer vigilantes, evolucionando constantemente para proteger la integridad de los ecosistemas de investigación.

5. El metaverso llama: Investigando más allá de la realidad

Las líneas entre lo físico y lo digital se están difuminando, y el 2024 dará un desarrollo exponencial a la investigación en el metaverso. Imagina realizar una investigación donde los encuestados prueben ramen virtual dentro de un bullicioso mercado de Tokio o exploren productos innovadores en una tienda futurista de realidad virtual, proporcionando perspectivas incomparables sobre el comportamiento y las preferencias del consumidor. A cambio, podrían desbloquear acceso exclusivo a experiencias codiciadas en el metaverso, como asistir a un festival de música virtual en Marte o diseñar avatares digitales personalizados. ¡Las posibilidades son ilimitadas! Sin embargo, navegar por las consideraciones éticas será una prioridad a medida que nos adentramos en esta emocionante frontera. Los investigadores deben garantizar la accesibilidad, mitigar los posibles sesgos y salvaguardar la privacidad del usuario en estos entornos inmersivos para crear un espacio de investigación responsable y equitativo que desbloquee todo el potencial del metaverso.

El futuro de los paneles online

¡Y ahí lo tienes! Un vistazo al fascinante mundo de la investigación de mercado y los paneles online en 2024. ¿Estás listo para unirte al viaje? Comparte tus ideas, preguntas y audaces sueños de investigación en los comentarios a continuación. Exploremos juntos el futuro de la investigación y desatemos el poder de la información impulsada por IA, los paneles de nicho y, ¡tal vez, hasta alguna que otra lucha de comida en realidad virtual!

Los paneles de investigación en línea en América Latina a menudo subrepresentan a los grupos de bajos ingresos, a pesar de constituir una proporción más grande de la población. Por otro lado, las personas con ingresos más altos a menudo están sobrerrepresentadas en comparación con aquellas de ingresos más bajos. Esta discrepancia puede plantear problemas potenciales, pero los investigadores de mercado pueden mitigar estos riesgos considerando cuidadosamente la composición de sus paneles y tomando medidas para garantizar que obtienen datos precisos y fiables.

Factores que afectan la Representación Socioeconómica

Muchas variables influyen en las disparidades en los paneles de investigación en línea. Principal entre ellas, en América Latina, está el hecho de que las personas de contextos socioeconómicos más bajos podrían no participar tan activamente en encuestas de investigación de mercado por varias razones:

• Acceso limitado a Internet: Las encuestas en línea son un método común para la recopilación de datos en la investigación de mercado, pero las personas de contextos socioeconómicos más bajos podrían tener acceso limitado o nulo a Internet en sus hogares. Esto dificulta su participación en las encuestas en línea.
• Altos costos de Internet: Los servicios de Internet no siempre son asequibles y a menudo se adquieren en paquetes individuales a través de empresas de telecomunicaciones, con datos limitados. El acceso compartido a Internet en el hogar es una rareza, lo que dificulta que todos los miembros de la familia tengan acceso.
• Limitaciones de tiempo: Las personas con recursos limitados a menudo tienen jornadas laborales largas y múltiples responsabilidades, lo que deja poco tiempo libre. Participar en encuestas podría no ser una prioridad cuando están ocupados con el trabajo y el cuidado de la familia.
• Falta de incentivos: Algunas encuestas ofrecen incentivos económicos o regalos como recompensa por la participación. Las personas de fondos socioeconómicos más bajos podrían percibir estos incentivos como insuficientes para justificar el tiempo y el esfuerzo económico requerido.
• Falta de confianza: Algunas personas pueden desconfiar de las encuestas y ser escépticas sobre proporcionar información personal o financiera en línea. Esta desconfianza podría ser más pronunciada en aquellos menos familiarizados con la tecnología y el entorno en línea.
• Falta de identificación: Las preguntas de la encuesta podrían estar formuladas de manera que no se relacionen con las experiencias y preocupaciones de aquellos de fondos socioeconómicos más bajos. En consecuencia, podrían no sentirse representados y no tener interés en participar.
• Barreras culturales y lingüísticas: Las encuestas podrían diseñarse en un idioma inaccesible para todos, y las diferencias culturales pueden influir en la interpretación de las preguntas.

Mejorando la Representación en los Paneles de Investigación en Línea

Para fomentar la participación de personas con antecedentes socioeconómicos más bajos en las encuestas de investigación de mercado, es esencial considerar y abordar las posibles barreras que enfrentan. Esto se puede lograr ofreciendo incentivos relevantes, empleando métodos diversos de recopilación de datos y diseñando encuestas inclusivas y culturalmente sensibles. Tomar estas medidas mejorará con el tiempo la representación socioeconómica en los paneles de investigación en línea de América Latina.

Para obtener más información sobre cómo motivar a los panelistas y adaptar el lenguaje de los cuestionarios, consulta el blog de ThinkNow.

Online research panels in Latin America often underrepresent lower socioeconomic groups, despite being a larger proportion of the population. Individuals with higher incomes, on the other hand, are often overrepresented compared to those with lower incomes. This mismatch can lead to potential challenges, but market researchers can mitigate these risks by carefully considering the composition of their panels and taking steps to ensure that they are getting accurate and reliable data.

Factors Impairing Socioeconomic Representation

Many variables factor into disparities in online research panels. Chief among them in Latin America is the fact that individuals from lower socioeconomic backgrounds might not engage as actively in market research surveys for several reasons:

• Limited Internet Access: Online surveys are a common method for data collection in market research, but people from lower socioeconomic backgrounds might have limited or no internet access at home. This hinders their participation in online surveys.
• High Internet Costs: Internet services are not always affordable and are often bought as individual packages through telecom companies, with limited data. Shared household internet is a rarity, making it challenging for all family members to have access.
• Time Constraints: Individuals with limited resources often juggle long work hours and multiple responsibilities, leaving little free time. Participating in surveys might not be a priority when they are busy with work and family care.
• Lack of Incentives: Some surveys offer economic incentives or gifts as rewards for participation. Individuals from lower socioeconomic backgrounds might perceive these incentives as insufficient to justify the required time and economic effort.
• Lack of Trust: Certain individuals may distrust surveys and be skeptical about providing personal or financial information online. This distrust might be more pronounced in those less familiar with technology and the online environment.
• Lack of Identification: Survey questions might be phrased in a manner unrelated to the experiences and concerns of those from lower socioeconomic backgrounds. Consequently, they might not feel represented so they have no interest in participating.
• Cultural and Linguistic Barriers: Surveys might be designed in a language inaccessible to all, and cultural differences can influence question interpretation.

Improving Representation in Online Research Panels

To encourage participation from people with lower socioeconomic backgrounds in market research surveys, it is essential to consider and address the potential barriers they face. This can be achieved by offering relevant incentives, employing diverse data collection methods, and designing inclusive and culturally sensitive surveys. Taking these measures will, over time, improve socioeconomic representation in Latin American online research panels.

For more insights on motivating panelists and adapting questionnaire language, check out the ThinkNow blog.

Como proveedores de paneles e investigadores en línea, somos responsables de garantizar los mejores resultados posibles. La calidad de los estudios de mercado está directamente relacionada con la motivación de los panelistas para compartir sus experiencias de consumo. Mantener el interés de los panelistas es fundamental y requiere una comunicación eficaz, pensamiento creativo y flexibilidad.

La motivación es importante para la gestión de paneles por varias razones:

Los panelistas entusiastas mejoran los índices de respuesta.

Cuando los panelistas están realmente motivados, dan lo mejor de sí mismos y participan como auténticos rockstars. Es más probable que los panelistas comprometidos completen las encuestas con respuestas más precisas y detalladas, lo que permite a los investigadores obtener datos de calidad y comprender mejor sus opiniones y actitudes. Cuando los panelistas no dan lo mejor de sí mismos, la calidad de los datos es evidente y, por tanto, no son útiles para el estudio.

La motivación impulsa estrategias de retención eficaces.

La motivación de los panelistas es esencial para mantener el compromiso o engagement durante todo el proceso de la encuesta, y hay formas de medir ese compromiso. El seguimiento de las métricas de engagement puede indicar los niveles de motivación de los panelistas y la eficacia del diseño de la encuesta. Realizar encuestas puede parecer una maratón, lo que lleva a algunos panelistas a abandonarlas antes de tiempo. Si los panelistas no se sienten valorados, pueden desinteresarse o dar respuestas sesgadas para complacer al investigador en lugar de la respuesta que realmente desean dar. Sin embargo, con un diseño de encuesta bien pensado y los incentivos adecuados, los panelistas se sienten valorados, es más probable que completen las encuestas con respuestas auténticas y estén dispuestos a participar en futuras encuestas. Es como tener un grupo de fans fieles. Vendrán a verte una y otra vez.

La motivación mejora la experiencia del panelista.

Al igual que las experiencias positivas de los compradores impulsan la repetición de las compras, las experiencias positivas de los panelistas contribuyen a aumentar las tasas de finalización de las encuestas. Para crear un ecosistema de paneles próspero, es imprescindible crear una experiencia de primera clase para los panelistas, desde el reclutamiento hasta la retención. Es fundamental crear un entorno que fomente la participación continua y la lealtad priorizando las necesidades de los panelistas. Esto mejora la calidad de la investigación y establece una base sólida para el compromiso a largo plazo y el beneficio mutuo.

Si desea obtener más información sobre nuestras estrategias para mantener a los panelistas de ThinkNow más contentos que un guitarrista con un solo, póngase en contacto conmigo.