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Tips of Finding a Top Startup in Latin America
Finding the right marketing agency should be your first point to boosting your startup in the Latin America. In Latin America, there are various agencies that charge you to do all your marketing. Due to the nature of startups, you may not be having enough capital to pay advertising agencies to handle your marketing. You can, therefore, market your brand using online 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 will need less money to pay for advertisements compared to paying the agencies.
You should study the mechanisms that your competitors are employing in their marketing and service delivery. When agents sell your products, they will charge you for the same service. You can only win the market if you treat your agents better than your competitors, if their products are present in the market. You can achieve this by increasing their commissions in addition what they get as 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. 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. 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. 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 should avoid seeing Latin America as an entity with homogeneous traits. The similarity of language spoken by the Latin Americans doesn’t mean that the people have the same cultures and market needs. Therefore, it is good for you to hire locales who have a better understanding of the local market trends, and cultural practices. The cultural and social values make it quite challenging for you to do business in this region. However, if you put the right forward, you will definitely succeed. People like Craig Dempsey are some of the entrepreneurs who overcame these challenges, and put up business empires in Latin America.