Asia is, by far, the biggest and most populated continent on the planet. Understanding how to do business, and how to be successful in Asia, deserves much more intuition and preparation than in any other territory in the world.
This highly populated giant provides great challenges to the Western-minded entrepreneur. Observation, patience, and respect will timely provide the answers to these challenges, revealing a world of opportunities for the well-informed, smart companies and businesspeople who want to expand to Asia.
When you plan on expanding your business into the APAC region, you also have to be ready to conduct the proper lead generation in your chosen region as well. In this post, we’ll expand on what you need to know about the APAC region before you dive in to do lead generation for the first time such as what their business culture is like.
Almost all Asian countries are collectivist in nature. This means that the needs and aspirations of the whole group, family, society, or community are kept above the individual needs and wishes. Family values, hierarchy, and importance to kinship, even in businesses, are the key factors kept in mind while doing business in Asia
One can benefit from this particular culture by advertising their product as beneficial for the whole family or community. If you market your product as useful for a whole organization, you might be able to succeed in your endeavor.
Similarly, when you go to any of the Asian countries, remember to keep in mind their collectivist nature. Asians emphasize socializing in groups. Therefore, it is of no use if you build a strong relationship with just the concerned decision-maker of an organization and do not consider the others.
Most cultures with collectivist nature give importance to relationship building while conducting trade and so does the Asian culture. They love to get together at festivals, birthdays, weddings, anniversaries, etc.
Even while doing business with Westerners, they expect them to build a cordial relationship before conducting any commercial activity. Hence, by having lunch/dinner together or by getting along with them during a festival, one can develop a good bond with an Asian. Asians also love it when someone welcomes them with a gift or brings a memoir of a different country to cherish their meeting.
A complete guide of doing lead generation and business in general in Asia is incomplete without the mention of the Asian’s belief in fore-sightedness. Remember to keep this in mind when you present your proposal to an Asian organization.
Your business proposal should not only benefit their society or community but should also have a hint of long-term relationship building. Asians seldom invest their time and money in a one-time business. They would simply love your offer if it gives them a long-term benefit and partnership.
Time is of the Essence
Time is money for people in many parts of the world. However, for Asians, it means slightly different. They like to invest a lot of time in a potentially beneficial business deal. They might not open up in front of you in your first meeting. Instead, they like to plan another one for doubts clarification, until you are able to satisfy them with your pitch. Expect another meeting for negotiation and probably another one for finally signing the contract.
Another thing to note is that while doing business in Asia, do not start with your company or offer right away. Business meetings in Asia are started with small general talks related to customs, culture, weather, tourist places, etc.
So before you plan to expand and do lead generation in any of the Asian countries, have a lot of time in your planner and a lot of patience in your mind.
Surround yourself with the best
Spend enough time and money, in finding key individuals to help you properly conduct lead generation in the APAC region. An expert in every needed field might sound costly, but it will be nothing compared to the provided advisory and the experience they will put into your business.
They will prevent expensive mistakes, go the extra mile, and will care for the company as if were their own. Also, your employees are experienced in acknowledging the differences in both cultures and markets in Asia. This understanding will take years for you to realize and will help you improve your chances of success.
Being able to experience the Asian culture and its differences will increase your understanding of this commercial giant. Also, being able to understand, respect, and not impose your way of doing business will take you anywhere.
As Asia is constantly evolving, while keeping its traditions, western businesses and individuals are forced to realize and follow guidelines, completely unknown to them. Being patient, respectful, and loyal are the key to success.
Embrace, respect, and enjoy these differences, as there are a million things to be discovered while conducting business in this incredible continent.