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Guidelines of Finding the Best Startup in Latin America
Start by befriending marketing agencies which will help in advertising your brand to more potential customers. There are quite a number of agencies that do marketing and sale of products and charge a fee for the service. 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 is due to the fact that, you can tailor adverts for a specific audience, and it aids in direct communication with clients. You can use such a medium to reach your clients at a lesser fee, and reach most people.
Secondly, you must study your competitors well and know how they do business with the agencies. It is obvious that these agencies will charge you for selling your branded 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 key indicator that such platforms can be used by any entrepreneur to grow their startups. 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. You should not forget continuing with offline marketing strategies, even as you shift to online forums These strategies, include speaking well to customers, sparking small-talks with them, or even compliment local foods or beverages.
Finally, you should understand the rates and bills as applicable to the countries where your customers are staying. 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. The diversity of the Latin American cultures should be dealt with heterogeneously, and not seeing it as just an homogeneous entity. Even though they speak same languages, there are a lot of differences among them. You should, therefore, hire local staff who understand the local environment well. 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.