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June 13, 2019
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. Due to the nature of startups, you may not be having enough capital to pay advertising agencies to handle your marketing. Your marketing can, therefore, be achieved through online media. 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.
You should learn how your competitors operate and capitalize on their weaknesses to have a higher hand in the market. When agents sell your products, they will charge you for the same service. 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 only be achieved by increasing the commissions that you will be paying to the various agents. 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 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. 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 will help you in making proper adjustments for the customers to acquire your products cheaply. You should avoid seeing Latin America as an entity with homogeneous traits. Even though they speak same languages, there are a lot of differences among them. Hiring local staff should be your best bet because these people will have a perfect understanding of the customers in the region. Since the region has diverse and varied cultures, adding the landscape challenges, making the region very difficult for startups to function properly. However, if you put the right forward, you will definitely succeed. 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.
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