Broadminded
Your market research company in Latin America
Latin America’s nearly 700 million people are driving expansion in one of the world’s most exciting regions; home to two of the world’s top 12 economies: Brazil and Mexico. But successfully tapping potential growth in this economically and culturally diverse region takes thoughtful preparation by experts with deep knowledge of its nuances and complexities.
This is where we come in. At Broadminded, our multilingual, locally-based experts have decades of unmatched experience in delivering innovative, bottom-up market research that identifies and guides our international clients through the opportunities and challenges present when expanding into Latin America. Working with us, you will be equipped to make the right decisions and implement your business strategy effectively as you invest in this dynamic region.
Broadminded
Your market research company in Latin America
Latin America’s nearly 700 million people are driving expansion in one of the world’s most exciting regions; home to two of the world’s top 12 economies: Brazil and Mexico.
But successfully tapping potential growth in this economically and culturally diverse region takes thoughtful preparation by experts with deep knowledge of its nuances and complexities.
This is where we come in. At Broadminded, our multilingual, locally-based experts have decades of unmatched experience in delivering innovative, bottom-up market research that identifies and guides our international clients through the opportunities and challenges present when expanding into Latin America.
Working with us, you will be equipped to make the right decisions and implement your business strategy effectively as you invest in this dynamic region.
Doing business in Latin America
Home to three large G20 economies, there are increasing opportunities all over Latin America across a range of industries, from technology to tourism, financial services to gaming. As the region’s middle classes grow, with increased spending power and access to technology, there’s never been a better time to invest in one of the world’s most exciting regions.
Each country in Latin America is unique, making a regional one-size-fits-all approach ill-advised. International companies need a thorough understanding of the social, economic, cultural and linguistic context of each country, whether Brazil or Argentina, Mexico or Colombia.
Engaging a locally-based Latin American market research company is vital to fully understand opportunities, anticipate challenges and avoid expensive mistakes.
Whether it is the region’s complex regulatory landscape, its dynamic and social-media obsessed consumers, its exciting fintech market, its vibrant entertainment industry, or its growing role in global ESG and green finance strategies, we can support you through every step of your Latin American journey.
Broadminded people
Market research experts
The Broadminded team of market researchers and analysts provides valuable consumer and B2B insights and strategic guidance to international companies, supporting them to achieve their objectives. Whether a client needs to identify opportunities, manage risk, understand consumer behaviour, or navigate Latin American regulatory landscapes, our team is here to help.
The Broadminded team comprises multilingual researchers and market intelligence experts. We share decades of experience and a comprehensive understanding of key trends as well as the nuances of Latin American societies, markets and regulatory environments. Importantly, we are skilled in imparting this knowledge in a clear and engaging manner for global companies.
Broadminded services
Quantitative research
The Broadminded market research team works with large consumer databases to offer evidence-based insights into specific areas, whether broad or niche, supporting our international clients to understand the pain points and desires of potential customers.
Market intelligence
Secondary research allows us to gather intelligence from the public domain, in government databases and reports, industry white papers and more, reinforcing our primary research findings.
Survey development
Broadminded surveys are carefully planned by our expert market researchers to ensure that our clients gain access to specific consumer and stakeholder insights that inform strategy and direction.
Qualitative research
Explore the opinions of potential customers through focus groups and interviews to understand underlying reasons for social trends and opinions.
Focus groups
Broadminded's multilingual focus group moderators help international companies to explore consumer perceptions of products and services, and predict market trends across the region.
Concept testing
Concept testing conducted by market research experts paves the way for informed decision-making and market success.
Validate ideas, evaluate prototypes, and collect consumer and stakeholder feedback before investing in a launch strategy.
Brand tracking
Broadminded market researchers help international companies to measure brand awareness, evaluate strategy success, and consumer perception and loyalty through a range of mechanisms.
Strategic planning
Create a roadmap for success in Latin America based on local in-depth market intelligence compiled and analysed by our experts on the ground. Broadminded helps international companies to create market entry and expansion strategies, based on unique consumer and industry insights.
Message development
For success in Latin America, international companies must create meaningful narratives that communicate effectively with target audiences. Messaging should resonate, inspire and captivate, using local vernacular and be based in an understanding of local popular culture.
Commissioned intelligence reports
Broadminded offers a white paper writing service for international governments and companies that wish to gain an in-depth understanding of a specific area of expertise in Latin America.
Broadminded expertise
Fintech
A massive expansion in financial technology (fintech) has found some of its most enthusiastic advocates in Latin America, revolutionising lives. Millions of people across the region now have access to banking, credit and financial services for the first time through their smartphones, and in particular in Brazil, thanks to the rapid adoption of its Pix digital payments system.
Environment and Sustainability
Home to 60% of the earth’s species, of which 10% can be found in the Amazon rainforest alone, Latin America is one of the world’s largest single reserves of biodiversity. But the region's natural wealth and its population are under increasing threat as climate change tightens its grip.
Sustainable Finance
Latin Americans are increasingly conscious of the way in which their consumption affects the world around them. People in the region are increasingly aware of how their savings are used in bank investment portfolios. The trend towards sustainable, environmental and transparent investment is growing in Latin America, helping to dispel mistrust about the use of funds and opaque banking practices.
Corporate Social Responsibility
CSR has become an important topic for businesses in recent years and it is no different in Latin America. Consumers in the region care about corporate practice. Therefore, a business' treatment of its employees and other stakeholders, its carbon footprint, its investment in social and environmental projects, and its stance against corruption all directly impact brand reputation.
Gaming
Latin Americans love gaming. Particularly Brazilians, of whom a huge 70% are said to be regular gamers. And it's spread pretty evenly across genders as well. This passion highlights the region's thirst for creative and interactive entertainment, its addiction to smartphones, increased connectivity and rising disposable income among certain groups.
Blockchain
Latin America is the region to watch for anyone invested in the future of Web3, nurtured by economic necessity, as well as the proactive measures that regional governments from Argentina to El Salvador are introducing. Blockchain ecosystems are rapidly evolving across the region, while crypto is increasingly being seen as an accessible hedge against high inflation, and an alternative to the high remittance fees many face.
Cybersecurity
An increasingly connected world demands tighter cybersecurity to protect us and our data from ransomware and other attacks, as we spend longer periods of time online and leave increasing volumes of important data in the cloud.
Consumer behaviour
Home to nearly 700 million people, the importance of Latin America as a consumer market cannot be overstated. With 45% of the population estimated to be middle class by 2030, double the level of 2005, according to the IZA Institute of Labor Economics, opportunities abound for international companies to expand in the region.
Media consumption
When introducing a new product or service to Latin American markets, it is important to be aware of the type of media that your customers prefer, as it will help you obtain further insights into what makes them tick, what outlets they trust the most, as well as where your marketing may be most effectively placed.
Regulatory landscape
Latin America is not known as a region with a clear and comprehensible regulatory landscape. To the contrary, it is both complex and fast-changing, regardless of industry. The often bureaucratic and logic-defying nature of many regulations, and often erratic enforcement by the responsible agencies, can be off-putting. It is one of the reasons that many countries in the region feature rather low down in the World Bank's global "Ease of Doing Business" rankings.
Our Clients
Clients from all over the world
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FAQs
About market research
Latin America comprises dozens of distinct markets and a vast array of social groups. International companies that wish to succeed with a new product or service should fully understand their target customer and the environment in which they will operate.
With effective market research, insights from a range of sources helps to contextualise market trends. It is essential that companies regularly conduct localised research as a means to effectively adapt to evolving market dynamics and changing consumer preferences.
To know what potential customers are thinking, it is better to combine large consumer surveys with research from public and industry data. To find out why people have certain preferences and attitudes, it is usually better to employ smaller scale, more in depth methods, such as focus groups and interviews. This allows us to dig deeper. Broadminded experts will help you to find the combination of the most suitable custom methodologies to best answer your questions.
Many factors impact a market research budget. Each project has a unique scope and fees will reflect this. The Broadminded team meets with new clients to get a comprehensive understanding of the research objectives so we can provide a range of suggested action plans with defined prices and timelines.
The duration of a market research project varies depending on scope, depth and objectives. Some small-scale projects focusing on a specific niche or local market could take a few weeks. Others may span a few months as experts explore and analyse broader and more complex markets, and incorporate more extensive data sets. The timeline is further influenced by data availability.
Here's how the Broadminded market research process works:
- Get in touch with us, outlining your market research needs.
- The Broadminded team will meet you in person or via video call to understand your research needs, objectives, desired deliverables, and available budget.
- A dedicated team of market research experts will offer a selection of suggested approaches that align with your objectives and budget, along with a clear delivery timeline.
- Once the research proposal is approved, the Broadminded team will formulate a comprehensive research plan, with background context, to be signed off by you before execution.
- We will then execute the project, providing regular updates at key milestones.
- The finished deliverables will be sent to you in the format of your choice.
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