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 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. Your marketing can, therefore, be achieved through online media. The launch of Google in Latin America,for example, put a lot of these agencies in jeopardy. This is due to the fact that, you can tailor adverts for a specific audience, and it aids in direct communication with clients. Such media can be employed instead, and will require a lesser amount of capital.
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. The same research indicated that Latin Americans are more tied to their family networks and have less ties to 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. 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. You, however, require a clear mindset, strategy, and enthusiasm to start and run a startup successfully. There are quite a number of people who successfully put up the best startup in the Latin American market, like Craig Dempsey.
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