The Challenges of Expanding into Emerging Markets
We've been working to bring Text Engine technology into emerging markets around the globe. You may not have known it, but Text engine works on five continents. A few places where we have users include The Philippines, Botswana, Mongolia, Pakistan and Australia.
We have licensed our codebase to a Nigerian-based company, the Almat Group. The Almat Group is currently building a local version of Text Engine for the peoples of Nigeria. Nigeria is still an emerging economy, and the majority of Nigerians do not have smartphones or reliable internet access. In fact, Africa only has about a 30% smartphone penetration across the continent.
Entering emerging markets with a U.S.-based product offers many challenges. To help us overcome these challenges, we've been working with SH International, a business consultancy that helps entrepreneurs and fast-growing companies expand their operations into emerging markets.
SH International's principal, Sara Haq, has been advising us on how to bring Text Engine to emerging markets. She recently appeared on The Worldly Marketer podcast to discuss her approach. During the podcast, hosted each week by Kathrin Bussmann, Haq mentioned her work with us. Listen to the podcast above.