Finding Ways To Keep Up WithNovember 25, 2018
Tips of Finding a Top Startup in Latin America
Start by befriending marketing agencies which will help in advertising your brand to more potential customers. In Latin America, there are various agencies that charge you to do all your marketing. However, startups are usually small and may not generate enough capital to pay these agents. Therefore, you can market your brand using the digital platforms. For example,when Google entered Latin America, the agencies were threatened because of its capabilities and cheapness. This is because, it could reach customers directly, and it allowed for tailored or customized 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. Usually, agencies will require payment from you for selling your products. If you discover that there are similar products as yours present in the market, then you need to change your strategy, and treat the agents well, and beat your competitors in the game. This can be through offering them better commissions in addition to their performance. According to research conducted on the internet and mobile phone usage, Latin America emerged among the top. This indicates that online and other digital means can be reliably used by entrepreneurs to grow their startup businesses. It was also discovered that a huge number of people in Latin America feel comfortable engaging with businesses and people who are linked with their families in one way or the other. Therefore, as you shift to digital forums, it is important for you to maintain the offline strategies. These strategies, include speaking well to customers, sparking small-talks with them, or even compliment local foods or beverages.
Lastly, it is good for you to understand each countries’ tax rates and deductible tax strategies that apply to imported goods. 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. The diversity of the Latin American cultures should be dealt with heterogeneously, and not seeing it as just an homogeneous entity. The similarity of language spoken by the Latin Americans doesn’t mean that the people have the same cultures and market needs. You should, therefore, hire local staff who understand the local environment well. Since the region has diverse and varied cultures, adding the landscape challenges, making the region very difficult for startups to function properly. You, however, require a clear mindset, strategy, and enthusiasm to start and run a startup successfully. People like Craig Dempsey are some of the entrepreneurs who overcame these challenges, and put up business empires in Latin America.