Guidelines of Finding the Best Startup in Latin America
First, you should befriend the various marketing agencies. In the Latin America, most entrepreneurs hire a marketing agency to do their marketing and sales, with a price. 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, Google was launched in Latin America, and it threw a lot of advertising agencies below the bus. This is because, it could reach customers directly, and it allowed for tailored or customized adverts. Such media can be employed instead, and will require a lesser amount of capital.
Secondly, you must study your competitors well and know how they do business with the agencies. 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. 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. 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. 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 should avoid seeing Latin America as an entity with homogeneous traits. There are a lot of differences in how the Latin Americans live despite the fact that they speak the same language. 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. 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.