Guidelines of Finding the Best Startup in Latin America
First, you should befriend the various marketing agencies. 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. The launch of Google in Latin America,for example, put a lot of these agencies in jeopardy. This is because, it could reach customers directly, and it allowed for tailored or customized adverts. 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. You can achieve this by increasing their commissions in addition what they get as 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. 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. 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. 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. Hiring local staff should be your best bet because these people will have a perfect understanding of the customers in the region. The region has diverse cultural and social practices which make it hard for entrepreneurs to run businesses there. However, if you put the right forward, you will definitely succeed. There are quite a number of people who successfully put up the best startup in the Latin American market, like Craig Dempsey.
Resource: official statement