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Clues of Finding a Leading 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,when Google entered Latin America, the agencies were threatened because of its capabilities and cheapness. This is due to the fact that, you can tailor adverts for a specific audience, and it aids in direct communication with clients. You will need less money to pay for advertisements compared to paying the agencies.
You should learn how your competitors operate and capitalize on their weaknesses to have a higher hand in the market. 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. 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 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. 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.
It is also advisable for you to research and learn more about the tax laws of all the countries in Latin America. This will help you in making proper adjustments for the customers to acquire your products cheaply. You focus in Latin America should be more broad and it is better for you to view it as a heterogeneous entity. The similarity of language spoken by the Latin Americans doesn’t mean that the people have the same cultures and market needs. 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. You, however, require a clear mindset, strategy, and enthusiasm to start and run a startup successfully. People like Craig Dempsey are some of the entrepreneurs who overcame these challenges, and put up business empires in Latin America.

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