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How to run a Go-To-Market pilot in Latin America

Let’s imagine your product is a Software with clients in the industry of retail in Europe or any foreign market. Now you have decided to expand to new markets such as Latin America.

Some assumptions in order to give a concrete context:

Company Industry: Saas (Software as a service)
Client’s industry: Retail
Brand awareness in Latin America: Weak

Go-To-Market Challenge:

Expand to foreign market, for example to Latin America, a region with more than 667 Million People with 33 countries.

Some questions marks:

  • How to tackle the region?
  • How canyou run a quick Pilot to bring the first clients?
  • What are the key players?
  • Competitors?
  • What are the local needs? Market fit?
  • What resources, people, relevant location are needed to conquer the market?

The challenge of business expansion is one of the most important steps for any company in order to keep being competitive today.
A strategy is needed, and so is a system to handle this challenge, the goLocal mindset definitely will help you to identify and eliminate quickly any barrier or friction between your service or product and a specific audience – target group.

The goLocal Methodology: It’s a proof strategy that eliminates the key friction smoothing your go-to-market strategy in any market. If you would like to know more about it, don’t hesitate to ask for a meeting to go into detail about the Methodology.

Let’s continue, for this specific example, we have highlighted some steps worth to incorporate into your business development strategy. Definitely, the second iteration of those suggestions is analyzing in details your solution versus business expectations (Resources, available team, business velocity, and so on)

goLocal Suggestion to build a Go-To-Market Pilot in Latin America

1.- Select the countries to run the Pilot in Latin America
goLocal suggestion: Brazil, Mexico, Argentina, Chile, Colombia, Peru

2.- Identify 10 companies per country with different sizes “Enterprise” “Medium size” “small size”
goLocal suggestion: It is better to test different sizes of companies because in Latin America the size of the client could vary versus other markets.

3.- Identify 3 to 5 relevant prospects per company according to your solution. Usually, a good mix is to have prospect with different business orientation. For example Technical orientation, Business oriented, and “Digital transformation”

goLocal suggestion: Having 5 prospects per company and 10 companies per selected market is a good starting point to build your sales funnel having 300 prospects (6 countries x 10 companies x 5 prospects)

4.- Organize the relevant intel of your prospect. According to your company’s resources and set up, you could use a CRM such as Salesforce, Saleslofts, or any of your selections, or just an organized spreadsheet.

goLocal suggestion: Collect the LinkedIn profile, name, surname, email address, telephone number, job title, and so on. Any piece of information from their Linkedin profile or any public source will leverage your chances to engage from the right angle with your prospect

5.- Build the cadences. Having the list with whom to engage now is needed to build the outreach strategy: Which channels, frequency, and content you will deploy in order to obtain a business meeting.

goLocal suggestion: Build the sales cadences with a length between 20 to 30 days combining activities such as Linkedin messaging, emailing, cold calls, voice messaging, and video messaging. Any balanced mix of sales touch will be able to open a door with your prospects.

6.- Relevant content, totally localized to the local audience. Invest time and resources to have relevant content per company size and prospects’ interests. Don’t expect to have success using the same messaging, lines of comunnunication, and Call to action across any company size or prospect profile.

goLocal suggestion: Build 3 lines of content and messaging. For example, find relevant insights for prospects with more technical backgrounds, definitely, this content will not be that relevant for prospects with a business-commercial orientation and vice versa.

7.- Keep religiously the steps of the cadences, that is the only way to gather relevant information to keep calibrating your Go-To-Market strategy.

goLocal suggestion: In order to have success, It takes a narrow cooperation between Marketing and Sales. It’s highly suggested to run a proof of concept in order to build the right strategy to conquer any market, especially in Latin America where the market is huge.

If your products or service is relevant to the retail industry, find below a good starting point.

Download full report

At Group goLocal, we understand both the European and Latin American markets. This is a great added value for you as we are able to fully localize your European business and help you expand successfully into Latam. Also, we can help you expand in Latin America in case your business has already been born in Latam. No matter where your Headquater office is, the goLocal Team is ready to help you roll-out your service in a Market with more than 667 million people!

Play as a local in Chile

If you have an online service, such as software, games, or any Saas and you would like to expand to Latin America, this blog could be a great starting point to identify the right angle to takle the region, let’s start with Chile. 

Our goal in Group goLocal is to share with you some ideas on how to win big in this market.

Chile is a country with 19,23 million people, with 88%  urban population. This country is the one with the most  developed economy in Latin America considering some indicators such as Internet penetration (92%), Population with a Bank account (74%), and GDP per capita (13,231 USD). 

Those metrics could give you a brief idea of what you can expect from a business perspective if you have been wondering to expand your business to the Chilean Market / Latin America.

If you are located in Europe then around 13,000 kilometers separate you from Chile, by flight you will need 15 hours from Madrid, UK, and Germany, usually you can get a direct flight from those countries. 

We firmly believe the face to face relationships as the key in the business arena or any relationship, however, this mindset can not stop your business expansion plan to roll out your services or products in a foreign and far market from your HQ. 

Today, thanks to technology and obviously due to the pandemic the business relationship has shifted a lot to online mode, probably it will never replace the personal-live-touch but it will definitely make possible kick-off your go-to-market strategy to any corner on the globe.

Having said that, let’s take a glance at the Chilean Market together.

Some indicators…

Let us share some key metrics that could help us  understand how fertile is the Chilean market for your service.

Let’s focus on Business – Top 30 companies 

It is a good practice to study and analyze local companies to see how they perform in their home market. It is wise to identify shortcuts and local tricks to get ready for the match.

Paying attention to their marketing campaigns, messaging, what social media channels have opened, lines of communications, CTA call-to-action, and many other hints that could help you to understand the local ecosystem. 

Let us share the top 30 companies based on the revenue that definitely will help you to play as a local.

                                                                                                                                                                                             Yearly Revenue

After succeeding  in positioning their products or services in their home market, brave and successful companies often encounter the challenge of expanding to markets that are more distant culturally, economically, linguistically, and where budgets, local specificities, and time zones sometimes differ. 

However this can  give a competitive advantage over competitors, landing first and getting the best strategic spot to compete. 

The Group goLocal team is definitely able to strengthen and calibrate your Go-To-Market strategy, a group of Marketing and Sales experts with several lose-and-win battles on the business expansion arena.

Let’s discover together the business opportunities for your Brand, not only in Chile as well as across the whole Latin America.

Group goLocal, your team for your business expansion

At Group goLocal, we understand both the European and Latin American markets. This is a great added value for you as we are able to fully localize your European business and help you expand successfully into Latam. Also, we can help you expand in Latin America in case your business has already been born in Latam. No matter where your Headquater office is, the goLocal Team is ready to help you roll-out your service in a Market with more than 667 million people!

Calibrating the business expansion in Latin America

If your goal is to improve your business results in Latin America or you are wondering how to tackle this region correctly, this piece of content should be quite relevant for you!

I always start by mentioning how many people live in Latin America in order to impress the audience with how attractive is the region from a business perspective, definitely not from a business arena. I will do it one more time :), Latin America has more than 667 Million people divided into 33 countries,  a region of great potential.

Like in many places around the world, the pandemic has boosted the massive business opportunity for companies operating online, as Latin Americans become more and more accustomed to being connected online and spending more and more of their life in the digital world. 

Brazil, Mexico, and Argentina have established themselves as the countries with the highest percentage of eCommerce growth in the Latin American region and among the fastest-growing countries in the world, due to a strong rise in connectivity and the promise of greater banking access to the population. 

Companies in the fields of eCommerce, digital transformation, artificial intelligence and SaaS are well positioned to take advantage of the opportunity in Latin America, as customers are increasingly expecting a high-quality multi-channel user experience. eCommerce sales in Latin America are expected to maintain a yearly growth rate of 30% until 2025, Making the region’s eCommerce sector a hyper-growth market. B2B companies can win big in the region by following a recipe consisting of relevant content, the right channels and an appropriate market brand positioning. 

Key Market Metric. From where to takle the region?

Definitely, It will not be a wise decision tackle the entire region at once because Latin America is huge, so my first piece of advice is to prioritize the countries that could have more chances to match your product or service. Does your service or product have an easy adoption? is it “costly”? your service requires a high or low level of IT implementation? as we can imagine there are relevant variables to consider before rolling out your service in a specific country. 

Define the target group that will help you identify precisely which country of the 33 will be more receptive to your service.

Find below a brief introduction of the countries that represent more than 80% of the business potential in the region: Brazil, Mexico, Chile, Colombia, Peru and Argentina. Those insights could help you to start drafting your strategy in Latam. Keep in mind I will be more than happy to craft your strategy together with my team!

Find the rest of the countries ( Argentina, Chile, Colombia, and Peru): Click here

At Group goLocal, we understand both the European and Latin American markets. This is a great added value for you as we are able to fully localize your European business and help you expand successfully into Latam. Also, we can help you expand in Latin America in case your business has already been born in Latam. No matter where your Headquater office is, the goLocal Team is ready to help you roll-out your service in a Market with more than 667 million people!