How do you build and maintain a strong local network and reputation in emerging markets?

1 Know your market

Before you enter an emerging market, you need to do your homework. Learn about the culture, the politics, the economy, the legal system, and the social norms of your target country. Understand the needs, preferences, and pain points of your potential customers, partners, and stakeholders. Identify the key players, influencers, and decision-makers in your industry and sector. Research the competitors, the risks, and the opportunities in the market. The more you know, the better prepared you will be to adapt and communicate effectively.

2 Build trust and relationships

In many emerging markets, trust and relationships are essential for doing business. You cannot rely on contracts, regulations, or institutions alone. You need to establish rapport, credibility, and respect with your local contacts. This means investing time and effort in meeting face-to-face, listening, asking questions, showing interest, and following up. It also means being transparent, honest, and consistent in your actions and promises. Avoid cultural blunders, misunderstandings, or offenses that could damage your reputation. Show that you are committed, reliable, and respectful.

3 Leverage local resources

You cannot succeed in an emerging market without local support. You need to leverage the resources, expertise, and networks of your local partners, agents, distributors, or employees. They can help you navigate the market, overcome barriers, access opportunities, and solve problems. They can also provide feedback, insights, and referrals that can improve your performance and reputation. Choose your local allies carefully, based on their reputation, track record, and alignment with your goals and values. Nurture and reward your local relationships, and acknowledge their contributions.

4 Adapt and innovate

Emerging markets are dynamic, complex, and unpredictable. You need to be flexible, agile, and creative to cope with the changes, challenges, and uncertainties. You need to adapt your products, services, strategies, and operations to the local context and customer needs. You need to innovate and differentiate yourself from the competition. You need to test, learn, and improve constantly. You need to anticipate and respond to the market trends, demands, and feedback. You need to be open to new ideas, approaches, and solutions.

5 Communicate and engage

Communication and engagement are key for building and maintaining a strong local network and reputation. You need to communicate clearly, frequently, and respectfully with your local contacts. You need to use the appropriate language, tone, and style for your audience and purpose. You need to avoid jargon, slang, or acronyms that could cause confusion or misunderstanding. You need to tailor your messages to the local culture, values, and expectations. You need to engage your local contacts in dialogue, collaboration, and feedback. You need to listen, acknowledge, and address their concerns, questions, and suggestions.

6 Deliver value and impact

Ultimately, your local network and reputation depend on your ability to deliver value and impact to your customers, partners, and stakeholders. You need to offer products, services, or solutions that meet or exceed their needs, expectations, and satisfaction. You need to provide quality, reliability, and convenience. You need to demonstrate your expertise, professionalism, and competence. You need to show your social and environmental responsibility. You need to measure and showcase your results, outcomes, and benefits. You need to create value and impact that last.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?