Understanding customer acquisition is key to any type of business success. Marketing expert Dmitrii Egorenkov, with over 10 years of marketing experience in Hong Kong, Singapore, Mexico, and the USA, has some exceptional insights to share. His study on cultural differences and media preferences can help shape the way businesses approach their customers worldwide, and his professional experience extends to the US, Latin America and Asia, including Vietnam, the Philippines, Malaysia, Indonesia, and China.
By following his guidance, both small and large businesses can find success when venturing into the global market.
The USA vs. Vietnam
There are some critical differences in the marketing landscape between these two countries. In the US, customer acquisition has evolved greatly alongside the digital era. Most businesses have adapted to include online services to give their customers the most convenient experience possible.
Innovation and speed are the most significant concerns in this market. Using global media sources is essential, as is tapping into all of the digital resources customers in the US use, whether that be smartphones, computers, streaming, video games, and more.
Vietnam’s digital transformation was instead started by the smartphone. Widespread adoption of this technology led to unique customer acquisition strategies, along with local challenges and opportunities. This country requires a distinct approach when it comes to its digital shift.
Local media sources are seen as much more trustworthy in Vietnam, for example. There is cultural leverage in using platforms like Coc Coc and Zalo, which are local Vietnamese platforms. While global platforms like Facebook and Google can still make an impact, it will likely be much smaller without considering the impact local channels can make in this market.
Vietnam’s market has local innovative sales channels that impact customer acquisition, like Coc Coc, Zalo, and television shopping. They are a big market for shopping within the country. There is also a great amount of social selling on platforms like Facebook and Instagram, which let businesses market directly to consumers and build personal connections to drive purchase decisions.
Egorenkov’s work shows the success of leveraging these local platforms. By connecting with consumers in a culturally relevant and effective manner, businesses are more likely to find success in customer acquisition.
Understanding the complexities of different markets is essential to developing strategies that consider local culture, historical particularities, and marketing innovation ideas. Dmitrii’s own achievements as a CMO at B9 and 4finance companies have proven that such a combination is the most effective approach in marketing.
He also notes the importance of identifying the differences between countries. For example, what had worked in Mexico for 4finance did not work B9 in the USA. Moreover, he implemented two different marketing strategies for 4finance for its development in Mexican and American markets. It is the same way that marketing strategies in Vietnam may not work in the US. Finding success in customer acquisition is about learning your customer base inside and out – what’s important to them to leverage your products and services to meet their needs.
Cross-Cultural Perspectives for Success
Dmitrii Egorenkov stresses the importance of understanding local media sources to develop an effective marketing strategy. The cultural nuances and innovative sales channels can help businesses craft effective customer acquisition strategies.
Dmitrii Egorenkov stresses that these insights are a roadmap to navigate businesses through the complexities of international markets. You can’t sell to people if you don’t know what they want or how to access them best. Businesses can better tailor their strategies to diverse consumer needs by paying closer attention to cultural and market differences.
Egorenkov’s 10-year experience in marketing, sales, and business development has provided invaluable guidance for businesses looking for global customer acquisition.