In the lead-up to SBC Summit Rio, iGamingExpert and Affiliate Leaders had the opportunity to speak with Hugo Silva, CEO of Caracol Media, who revealed how a decade of experience in retail and fintech has shaped the firm’s strategy for the Brazilian iGaming industry.
You are a relatively fresh brand, having launched in 2024. What gap is your company trying to fill here?
Hugo Silva: Caracol Media was created to fill a crucial gap in user acquisition and retention for the Brazilian iGaming industry. A lot of strategies out there rely on the same traditional channels—Google, Facebook, and programmatic media—but what we’ve seen over the years is that these platforms tend to get expensive, saturated, and increasingly restrictive.
With over 10 years of experience working with major retail and fintech brands in Latin America, we’ve learned that user behavior in this region is completely different from Europe or North America. The way people interact with brands, consume content, and purchase products is unique.
What we’re doing at Caracol Media is taking everything we’ve mastered in high-performance acquisition and bringing it into iGaming, using alternative platforms, hyper-segmentation, and media buying strategies that scale.
My understanding is that your partners do not just include gambling firms. This is a highly regulated industry with a lot of rules and limitations, which I assume makes your job much more difficult. Why is it worth it for you?
HS: It’s true—working in iGaming comes with a unique set of challenges. Regulations are constantly evolving, restrictions on advertising are tightening, and competition is increasing. But in many ways, this isn’t new to us.
Before launching Caracol Media, we spent years working in industries that also require precision, compliance, and a deep understanding of local markets. Over time, we developed a strategic approach to user acquisition that goes beyond conventional media buying, and that same mindset has been incredibly valuable when navigating iGaming.
At the end of the day, it’s about knowing where the audience is and how they engage with content. Traditional platforms aren’t always the best answer, so we focus on building scalable, compliant strategies that tap into user behavior in a way that makes sense for both affiliates and operators.
You emphasise user acquisition and retention on non-traditional platforms. Could you tell us what these are for markets like Brazil and which have proven to be the most successful so far?
HS: Absolutely! We have found that for Brazil, non-traditional platforms drive higher engagement, lower CPAs, and better retention.
Some of our biggest successes have come from short-form video content, which has exploded in Brazil on platforms like Kwai, as well as utilizing push notifications—a tool that, when used strategically, can drive exceptional conversion rates.
Additionally, leveraging native ads and programmatic networks has enabled us to reach highly targeted audiences at scale, while partnerships with streaming platforms and influencers have helped us engage new, highly active audiences. And when engagement is high, conversion rates soar!
Our biggest takeaway is that Brazilian audiences don’t want to be “sold to”; they want to be entertained, engaged, and feel part of a community. Our job is to use the right platform and messaging to make that happen.
Acquisition will of course be the biggest focus, now that the regulated gambling market is fresh in Brazil, but over time, we’ll see a shift toward retention. How do you ensure that campaigns not only attract new users but also improve engagement and long-term retention?
HS: You can spend millions on acquisition, but if you’re not thinking about retention from day one, you’re wasting money.
At Caracol Media, we don’t separate acquisition from retention—we build campaigns that do both. We segment users from the start, analyzing which behaviors indicate high retention potential, and then we structure campaigns to bring in the users who are most likely to stay.
Our approach is threefold. First, we focus on user segmentation—not just driving volume, but optimizing for lifetime value (LTV) by targeting users with a higher likelihood of long-term engagement.
Second, we prioritize engaging content. Rather than simply pushing offers, we leverage community-driven content, interactive formats, and personalized messaging to keep users actively involved.
Finally, we implement automated re-engagement strategies—whether through push notifications, SMS, or remarketing—to ensure users stay engaged and keep coming back.
The goal isn’t just to acquire users—it’s to turn them into long-term, high-value players.
You also speak a lot about vital content. How important do you think it is for companies working in user acquisition to create viral content—or content that sticks with the audience? What elements do you think could make a campaign go viral in Brazil?
HS: In Brazil, content isn’t just part of the strategy—it is the strategy. Simply placing an ad in the right spot isn’t enough; it has to resonate and feel authentic.
Many brands still focus too much on pushing offers, but real engagement comes from entertainment and storytelling. The Brazilian audience is highly social, and their interaction with brands goes beyond transactions.
When it comes to viral content, integrating humor and relatability is especially powerful—if something is funny, people share it; if it feels familiar, it builds trust. Interactive formats like polls, challenges, and exclusive content are also key, turning passive audiences into active participants, and increasing engagement.
For iGaming, it means moving away from purely transactional messaging and focusing on content that connects on an emotional level. If people enjoy engaging with the brand, acquisition becomes a natural next step.
Producing social media content is another area you specialize in. Brazilians rely heavily on social media—does this hold true for gambling brands as well? Is the social media presence of operators a strong enough factor for the audience to choose one over another?
HS: For Brazilian players, social media is not just a side channel—it’s a key decision-making tool. Before signing up, people check how a brand presents itself online, what others are saying, and whether they feel a connection.
For gambling brands in Brazil, social media serves multiple purposes. It plays a crucial role in building trust, ensuring that players see a company as a real, credible brand rather than just another faceless operator. It also fosters community-driven engagement, as Brazilians don’t just consume content—they interact, comment, and share experiences.
Additionally, leveraging social media influencers can be a game-changer. People trust individuals more than companies, so having the right creator endorse a brand can have a bigger impact than even the most expensive marketing campaigns.
Operators who treat social media as a core part of their strategy—not just a place to post promotions—are the ones seeing the biggest returns. It’s not about just having an account; it’s about being part of the conversation.
What are your main goals at SBC Summit Rio? Are there any specific conference panels or exhibitors that have caught your attention?
HS: SBC Summit Rio is a key moment for us to strengthen partnerships and expand our presence in the Brazilian affiliate space.
At the event, our primary focus will be on expanding our network of high-performance affiliates and operators, exploring new traffic sources and innovative acquisition models, and gaining valuable insights into the impact of new regulations on the Brazilian market.
In regards to the conference, I am particularly excited about panels discussing Brazil’s regulatory landscape, as it’s a very hot topic for us. I am also very keen to attend as many panels as possible at the Affiliate Leaders Summit.
Want in on the Affiliate Leaders Summit at SBC Summit Rio? Apply for a complimentary pass for full access to the expo floor, all sessions, evening networking, and free catering!SBC’s Affiliate Leaders community brings together a vital segment of the iGaming industry, empowering affiliates to connect, share insights, and explore challenges and opportunities within the sector. Built around information exchange, Affiliate Leaders offers exclusive benefits, including speaking opportunities at SBC events, interview features, VIP dinners, and complimentary access to all SBC events globally, amplifying affiliate voices in the iGaming discussion. Apply for membership.
