The Latin American market offers many opportunities for Chinese companies. For hard statistical data on the current state of Chinese companies investing in Latin America, please look into the following links below.
Statistical Data:
This first report provides specific information regarding the data behind the numbers of Chinese companies entering into the Latin American Market. The report also outlines details regarding a few of the largest Chinese industries operating in the Latin American.
https://journals.openedition.org/chinaperspectives/3053
This next report was written by a popular consulting firm regarding Chinese investment opportunities in the Latin American region. The TMF group are well-known consultants that have assisted many companies expand their businesses overseas. If you like the report and are interested in contacting the TMF group, please do so through their link below. Contracting with a consulting firm might be outside of your price point. If so, your next option is to join one of the many networking groups available in Latin America. Networking groups can provide great insights. Sometimes the only cost involved will be your entrance fee into the group.
Chinese Government Releases Research Paper Outlining Their Plan To Facilitate A Long Term Partnership With LATAM
The subject of Latin America relations is a very important topic for the Chinese government. So important that Beijing has released an official white paper describing the long-term plan for Chinese and Latin American relations. You can use this document as a starting point to help guide your exploration into the overseas market.
Read what the Chinese government has written for you to help set the tone of a fruitful entrance into LATAM. In the white paper, the Chinese government outlines certain industries that they will focus on building with Latin American partners. By aligning your Chinese company within those industries, you can leverage the trade infrastructure already built by the Chinese government. Please read the document released by the Chinese government below.
http://www.gov.cn/english/official/2008-11/05/content_1140347.htm
Top strategies used by Chinese companies entering LATAM
There are numerous Chinese companies that have successfully entered into the Latin American Market. A few of those companies are:
● Huawei
● DJI
● Mobike
The above three companies all have one thing in common. They share the same strategies and tactics when it comes to positioning in the Latin American Region. You don’t have to be a large multinational company to take advantage of the same strategies. From the resources contained in this report, you can find marketing channels and agencies that meet your budget and requirements. For your convenience, we have outlined a few cost effective strategies below.
Hyper-Localized Advertising
If you would like to follow in the footsteps of successful Chinese companies that have entered in the Latin American market, consider hyper-localized advertising. You can maximize your ad budget by targeting hyper-local districts and towns in the Latin American Region via facebook advertising. Here is a great resource on how that works.
https://www.wordstream.com/blog/ws/2018/01/25/hyperlocal-marketing
Facebook business insights into Latin America is a great tool that can help you analyze the marketplace for free. Use tools like this to see how Latin American citizens respond to certain forms of social media advertising.
https://www.facebook.com/iq/insights-to-go/tags/latin-america
Contacting Famous Influencers To Promote Your Product or Service
No digital campaign is complete without the assistance of influencers. This is a great avenue to help your company reach potentially millions of Latin American citizens in a short amount of time. Finding the right influencer to help promote your products will take time. However, the rewards will be well worth it.
Large presence at local exhibitions
Exhibitions provide a great way to break into local markets. Finding relevant trade shows can sometimes be a headache. That is why we are giving you this resource. Look at the link below to find trade shows and networking events across Latin America. Use this opportunity to develop relationships, make sales, and spread the word about your business.
https://www.jetro.go.jp/en/database/j-messe/country/cs_america/
Highly visual and engaging social media marketing
All the market research and data insights say one thing. That Instagram and Facebook reign supreme in Latin America. There is no social media platform more influential and powerful than Instagram and Facebook within the Latin American continent. The following article is a great resource and describes how and why Instagram and Facebook are the top social networks of Latin America.
Brands in the past have found success with highly visual campaigns. This means creating engaging posts that play on the visual nature of your product or service. Take hints from social media advertisements ran by Huawei.
https://www.emarketer.com/content/social-network-users-in-latin-america-2018
Impressive in-country print advertising
For companies with a smaller budget, it is advisable to have someone in the country to locate affordable, small scale print advertising opportunities. This can be anything from highway banners to street signs, and even local Latin American magazines.You don’t have to lease expensive spots on mega billboards. However, targeting a specific area with small scale print advertising can definitely help you. Use the link below to locate some of the top magazines across Latin America.
http://www.hacer.org/magazines.php
Helpful Resources and links for entering the the LATAM Market
This list of resources was designed to help Chinese firms enter into the Latin American market. Utilize the following information to find everything from Latin American partners to Trading Associations.
Powerful marketing channels
Cross-Marketing partnerships with non-competing Latin America companies
Cross marketing partnerships are an economical way for brands and companies to circumvent high advertising costs. As a Chinese company looking to enter into the Latin American marketplace, certain marketing tactics might be initially outside of your budget. However, by partnering with a non-competing Latin American company, you can significantly reduce your advertising and marketing costs. Cross-Marketing partnerships can come in the form of, but not limited to the following:
● Joint promotions
● Co-op advertising
● Collaboratively produced collateral
● Bundled offerings
● Joint events
Access Latin America is a well-known company that can assist you in locating the perfect Latin American partner to cross market with. However, with enough research and due diligence, you may be able to locate and reach out to your ideal partner on your own.
http://accesslatinamerica.com/
Influencer marketing in LATAM
Latin American companies routinely use influencer marketing to promote their brands message and products to large amounts of interested buyers. In the Latin American culture, sports, music and entertainment are a very large part of society. Many big name brands like Huawei have found success in using influencer marketing to gain market share in their industry.
However, Chinese companies don’t have to be a large multinational organizations to capitalize on influencer marketing. With the right hyper local targeted campaign, you can reach out to tens of thousands of individuals on a very economical budget. The following link below is a great resource of seven of the largest Latin American based influencer marketing agencies that can help you implement a successful campaign.
https://influencermarketinghub.com/leading-latin-american-based-influencer-marketing-agencies
Video Marketing
As the old saying goes, “content is king”. However, in reality video marketing reigns supreme. Giving your Chinese company a powerfully visual presence in the Latin American market is essential in finding success. The Latin American culture is distinctly different from Chinese culture. Therefore, it will help you to contact and experienced digital marketing firm with a presence in the Latin American countries you wish to enter.
This incredible list provided by clutch.co compiles the top Latin American digital marketing firms for you to review. The list also organizes each firm by their size and average cost of services.
You will find that there are digital marketing companies in Latin America that work with everyone from startups and small businesses to large enterprises. If your Chinese company is looking to enter the Latin American market on a budget consider working with a digital marketing firm who specializes with small businesses.
https://clutch.co/agencies/digital-marketing/latin-america
Affiliate Marketing
Affiliate marketing is rapidly growing in Latin America. One of the best ways a Chinese company can break into the Latin American market on a budget is by partnering with affiliate marketers. Whether your Chinese company wants to offer Latin American buyers digital products or physical goods, you can find an affiliate marketer to help you sell directly to Latin American customers.
There are many affiliate marketing agencies that help companies find partners. However, getcake has been rated as having one of the most intuitive easy to use software to help companies locate affiliate marketers around the globe.
https://getcake.com/affiliate-marketing-software/
Marketing, Advertising and Consulting Firms To Assist You
As a Chinese company entering into the Latin American market, you may want to attempt handling as much as you can in-house. However, there will be things that you will eventually need assistance with. Continue reading our list of resources to discover marketing companies in Latin America to help you with a variety of projects
Rebranding your products or services
As a Chinese company entering into the Latin American market, you will need to rebrand your products or services. This includes rebranding everything from your packaging and labeling to the language from Chinese to Spanish. If your company is not an expertise in the buying mentality of Latin American customers, it is advisable that you work with a rebranding company in Latin America.
For this reason, we have provided a link below that contains a comprehensive list of branding agencies in Latin America organized by Price and Company size. Use the link below to search for companies that can assist you with converting your branding into something that Latin American buyers can relate with.
https://clutch.co/agencies/branding/latin-america
This next link provided is a great resource that lists chinese brands that have successfully entered the latin american market. Review some of the brands that have already converted their products and services into a Latin American version and achieved success.
https://www.americasquarterly.org/content/chinese-brands-latin-americans-love
Latin American Distributors
If you are a Chinese company offering products to Latin American buyers, you will want to work with reputable Latin American distributors. One critical mistake you must avoid is putting all of your eggs in one basket. It is very advisable that you work with multiple distributors across separate territories in an effort to maximize your potential for success
The LAD Group International is a well known company that works with distribution partners all over Latin America. If your Chinese company is struggling to locate distribution partners on your own, you may want to work with the LAD group. They have experience with helping companies get their products distributed by Latin American partners all throughout the region.
For larger companies, you may want to consider working with Albert Costilo. He is a well known multilingual business executive and former expat that has been helping companies achieve international expansion for the past 20 years. You can find more information about Albert Costilo using the link below.
http://www.tradeready.ca/author/acostilo/
If you are a Chinese manufacturer producing medical supplies, you may want to work with the company i2medi. This company helps medical supply manufacturers find distributors in the Latin American market. Contact them directly to discuss which Latin American countries they can help you enter. The medical supply market is a very large industry within the Latin American Market.
Our research has shown that out of all the Latin countries you can enter, it is best not to start with the Brazilian and Mexican markets. These two countries already have a defined network of long and established partners within Europe and the United States. Therefore, other emerging markets like Chili and Columbia will provide more opportunities for new Chinese medical supply manufacturers looking to enter Latin America.
Latin American Business lawyers
Lawyers can provide your Chinese company with a wealth of resources when it comes to entering into the Latin American market. Often times, lawyers have close and personal relationships with the contacts that you would like to reach out to. Therefore, we have compiled a list of Latin American attorney resources you can use to advance your expansion
Lawyers can help introduce you to key players
A company like the BizLatinHub can help introduce you to key players that canfurther your advancement into Latin America. This can include individuals like local politicians, leaders of trade associations and other import individuals that you may want to rub shoulders with. Often times this information can be acquired for no more than the cost of a simple consultation with the BizLatinHub.
Helping You Spot Emerging Trends
Business lawyers and corporate attorneys have their finger on the pulse of the Latin American market. Because they work very closely with industry experts and multinational corporations in Latin America, they have insider information into the emerging trends of the region. Therefore, a company like Carey can help you spot emerging trends for a very affordable price. A simple consultation or a few hours worth of conversation with this law firm could be worth his weight in gold.
https://www.carey.cl/en/practice-areas/china-desk
Visa Services
When the time has come for your company to send a representative into Latin America, you will require a long-term business visa. You may have Chinese visa companies ready to assist you in your home country. If not, consider working with the law firm below. They have experience in helping companies gain entrance into Latin America fairly quickly.
http://ems-ir.com/latin-america-relocation-services/
Networking Groups and Trade Associations
The following list of networking groups and trade associations can help you find access to conferences, networking events and other activities where you can network with people in the Latin American market. Networking is a powerful tool that should never be overlooked. The following companies also provide services for everything from consulting to distribution assistance for Chinese companies looking into Latin America.
● latambusinessnetwork.ch/
● globalbmtconsulting.com/
● busquedaejecutivos.com/
Other Proven Strategies & Tips for Entering The LATAM Market
Understand the Local Business Environment
Understanding the local business environment is a critical asset when entering into a foreign market. In order to fully understand how things operate within an overseas territory, it is advisable to conduct deep market research. If you don’t have the staff or the time required to discover the appropriate market information, you can contact a firm from the list below.
The link provided gives you a comprehensive listing of numerous market research firms across Latin America. Select the country you’re interested in and go through the links to find a firm that matches your budget and requirements.
http://www.zonalatina.com/mktcomps.htm
The true power of local attorneys
As we mentioned in the above section, local Latin American attorneys can provide plenty of benefits when expanding your business overseas. More importantly, is their ability to provide insider knowledge into certain topics you need answers for. Here is another great resource which provides attorneys from all across Latin America.
https://chambers.com/guide/latin-america?publicationTypeId=9
Chinese Latin American Trade Center
This organization was created to help multilateral trade between the two cultures of China and Latin America. Utilize this resource to help you meet precious business contacts that can advance your objectives in expanding into Latin America. The conferences will be worth the expense. As they say in business, “it’s not what you know, it's who you know”.
Attending a networking event hosted by the Chinese Latin American Trade Center will expand your horizons to many important players in the Latin American market place. Whether you’re looking to meet local partners, investors, business allies, and even governmental dignitaries, this group is perfect for you.
China-LAC Business Summit
The China-LAC Business Summit is yet another great opportunity for you to dive deep into the Latin American market place. Together players from China and Latin America meet at this business summit to discuss advancing their objectives overseas. The purpose of this summit is to specifically emphasize facilitating international trade. If you are in the business of selling products or exporting goods, this is a perfect networking opportunity for you and your Chinese company.
http://www.clasummit.net/en/index
Mexico, Brazil and Argentina Handle 80% of the Manufacturing in Latin America
Many experts say that these three markets are the hardest to break into. Because most of the manufacturing in Latin America is done in these regions, Chinese companies may have a harder time finding a market opening. Consider beginning your conquest of Latin America in other, smaller LATAM markets that you can find openings in. A great way to discover market openings is to look at Google Trends to discover which terms and topics are trending in certain areas. This can be a great resource to discover upcoming openings that others have not exploited.
