Given the new business context in which print media have been hit in recent years by changes in habits and audiences are on multiple channels and digital platforms, marketing and advertising teams must reinvent themselves.
The most recent changes in lifestyle habits resulting from the spread of covid-19 have combined with the increased use of digital platforms, a phenomenon that was already evident before the pandemic.
During 2020 it is estimated that advertising investment amounted to $345 million, an amount that is 6% lower than reported in 2019, a drop that is explained by the fall in spending in all formats.
According to data collected by Kantar Iboper Media, between 2019 and 2020 in the Costa Rican market, advertising investment decreased by $22 million, going from $367 million to $345 million.
Instituto de Recreacion de los Trabajadores bids advertising services in newspapers, national TV channels, cable channels, radios, magazines and other media.
Following the entry into force of the Sign Law, agencies engaged in providing printed advertising services estimate that the cost of billboards will increase by 30% due to the new tax payments to be made to the municipalities.
According to the Assembly, the purpose of the Law is to establish the legal framework to regulate the advertising and propaganda carried out by means of signs located in the municipalities of the country, based on urban, suburban and rural planning and development, as well as technological advances.
Because more than half of consumers born between 1996 and 2012, known as "Generation Z" or "Centennials", are immune to traditional advertising and television, brands and companies should focus on communicating with this group through digital channels, such as social networks and influencers.
Positioning a brand, product or service is currently a challenge for advertising agencies and companies, as they must overcome the challenge of communicating effectively with younger consumers.
Understanding the socio-demographic characteristics of the ideal client, as well as knowing their interests, desires, motivations and challenges, is fundamental for reaching the consumers of this new commercial normality in the digital environment.
The health crisis, quarantines and social distancing measures in the countries of the region, forced individuals and companies to accelerate the adoption of new technologies, which caused the digital to become the center of all interactions.
Reduction in advertising and marketing budgets in companies and an increase in the preference for investment in television campaigns are part of the changes that are being reported in the context of the new commercial reality.
Radical changes in the ways people relate to each other, new consumer habits and the home confinement decreed by the pandemic have led to a transformation in the advertising sector.
In Guatemala, the rights for the transmission and reproduction of sports events of the national teams of the National Football Federation, in all its categories and modalities, are tendered.
According to the rules of the contest, the rights that comprise the transmissions by open television, cable television, and radio, produced and transmitted within the national territory. It also receives bids for the rights generated by this activity presented by the suppliers, in the forms of productions described above.
The advertising services market is estimated at approximately $800 million and is made up of some 654 companies, of which 6 out of 10 already export their services, with their main markets being the U.S., Panama and Mexico.
Regarding the context in which the business is developed, a study prepared by Promotora del Comercio Exterior (Procomer) explains that the national market has been influenced by the entry of international agencies affiliated to existing national agencies (under annual fee payment models, franchise, total acquisition or shareholding). Other companies have entered through their offshoring model.
The Superintendence of Banks tenders the external communication campaign, which includes guidelines in written press, radio and cable television, for a period of one year.
In Panama, development of an advertising strategy is being put out to tender in order to guarantee the positioning and success of the dissemination in the stages of the 2020 Population and Housing Censuses, including the creation of a slogan and logo.
The Ministry of Education of the Dominican Republic is putting out to tender the placement of advertising for the institution, for a period of 12 months.
Purchase of the Government of the Dominican Republic MINERD-CCC-LPN-2018-0011:
The union of advertising agencies has reported that in 2017 they generated revenues of $443 million, of which $35 million corresponded to digital advertising.
According to figures from the Associated Advertising Agencies of Honduras (Apha), the $35 million invested in digital advertising in 2017 made this line of business represent the third largest revenue generating factor for the agencies, surpassing investments made in radio media, which were estimated at $19 million.
español
2099