Thanks to its ongoing development, Latin America is a region of great opportunities in business expansion. Several emerging economies in their territory are now showing promising growth.

Expanding your business to Latin American markets will provide you with multiple advantages such as: 

 

• Resource optimization
• Brand positioning reinforcement
• Exponential learning
• Strategic locations for product transportation

 

Before going to the next level and taking such an important step as starting operations abroad, you must take into account some aspects to achieve it successfully. 

 

Understanding the market 

Latin America mostly shares language and cultural characteristics, yet is important to highlight that each country has oddities of its own. Ranginh from consumer habits, tradition, laws, and even payment methods. 

A study by ECLAC highlights consumer trends in Latin America have changed and now consumers are more concerned with a sense of well-being and product safety. They are opting for brands that seem reliable to them.

 

Local allies 

 

The best way to enter a new region is to actually understand it. Look for strategic allies in the country of your interest. They will help you show your brand in the best way, implement personalization strategies and speak the local language to achieve closeness between your company and consumers. Remember cultural adaptation of your solution is a fundamental aspect to succeed in the new market.

 

Expanding does not necessarily mean to do it physically

 

Today, we’re living in a digital world thanks to technological advances. Reaching foreign countries doesn’t necessarily mean you have to relocate your facilities.  If your business model allows it, you can provide your services from your current location. 

Latin American consumers are among the most digitally connected people in the world, so making use of digital channels can be a feasible alternative, even as a first step before physically expanding.

At Bindiva we provide marketing solutions for companies looking to take their business to the next level and expand to LATAM. Let’s work together!