5 Lessons Learned:
June 15, 2019
Guidelines of Finding the Best Startup in Latin America
Finding the right marketing agency should be your first point to boosting your startup in the Latin America. In the Latin America, most entrepreneurs hire a marketing agency to do their marketing and sales, with a price. 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. The launch of Google in Latin America,for example, put a lot of these agencies in jeopardy. 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 study the mechanisms that your competitors are employing in their marketing and service delivery. Usually, agencies will require payment from you for selling your products. 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 be through offering them better commissions in addition to their performance. Latin America was ranked among the top regions in the world where use of mobile phones and internet is highest, according to a research. 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. As you will be shifting your marketing and branding to the digital world, it is crucial for you not to forget the offline mechanisms. There are a number of strategies you can employ to engage well with your customers like complimenting the local stuff like foods and drinks.
Finally, you should understand the rates and bills as applicable to the countries where your customers are staying. This is going to facilitate your pricing strategies because you will need to adjust the prices of your products so that your clients will be satisfied. You focus in Latin America should be more broad and it is better for you to view it as a heterogeneous entity. The similarity of language spoken by the Latin Americans doesn’t mean that the people have the same cultures and market needs. Hiring local staff should be your best bet because these people will have a perfect understanding of the customers in the region. The cultural and social values make it quite challenging for you to do business in this region. 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.