Tips of Finding a Top Startup in Latin America
First, you should befriend the various marketing agencies. There are quite a number of agencies that do marketing and sale of products and charge a fee for the service. Due to the nature of startups, you may not be having enough capital to pay advertising agencies to handle your marketing. Therefore, you can market your brand using the digital platforms. For example, Google was launched in Latin America, and it threw a lot of advertising agencies below the bus. This platform can deliver adverts to customers directly, and it can show a lot of statistics which you can use to tailor your adverts. You can use such a medium to reach your clients at a lesser fee, and reach most people.
You should learn how your competitors operate and capitalize on their weaknesses to have a higher hand in the market. When agents sell your products, they will charge you for the same service. If there are similar products trading in the market, then you have no option but to treat your agents better than your competitors do. This can only be achieved by increasing the commissions that you will be paying to the various agents. Research identifies Latin Americans as the world’s most prolific internet and mobile phone use. This is a good indicator that you can use these platforms to grow your startup business. That research also pointed out that many Latin Americans trust their family networks, and can only do business with them more, than they can trade with non-family networks. Therefore, as you shift to digital forums, it is important for you to maintain the offline strategies. There are a number of strategies you can employ to engage well with your customers like complimenting the local stuff like foods and drinks.
Lastly, it is good for you to understand each countries’ tax rates and deductible tax strategies that apply to imported goods. You can use these figures to ensure that you don’t subject your clients to high charges, because they may end up preferring other cheaper products from your competitors. You focus in Latin America should be more broad and it is better for you to view it as a heterogeneous entity. There are a lot of differences in how the Latin Americans live despite the fact that they speak the same language. Hiring local staff should be your best bet because these people will have a perfect understanding of the customers in the region. The region has diverse cultural and social practices which make it hard for entrepreneurs to run businesses there. However, you just need to come up with the right strategy, focus, and objectives that will help your brand to be accepted by as many people as possible. Craig Dempsey is among the people who defied the odds and entered into the Latin American markets, and now has the leading startup in the region.