Mongolia - Selling Factors and TechniquesMongolia - Selling Factors/Techniques
Personal relationships are essential. Exporters, importers, and investors must establish and maintain close relationships with their Mongolian counterparts and relevant government agencies. U.S. exporters should encourage strong personal relationships among their Mongolian agents or distributors and buyers and end-users. A web of strong personal relationships can smooth development of business in Mongolia.
Initial contacts with some Mongolians can be in English, but having an interpreter at the start of any relationship always helps. Mongolians look for cues of serious intent by how much effort — time and material — a foreign investor puts into the early phases of the business relationship.
It is a mistake to view Mongolians through the prism of their neighbors. That is, thinking that Mongolians are like the Chinese, Russians, or Koreans is to misunderstand them. While Mongolia has historical and cultural ties with its neighbors, Mongolians are conscious and proud of their unique history and the democratic progress of their country over the last 26 years. They become particularly offended if confused with Chinese and resent being compared to other developing countries with similar commodity-dependent economies.
Promotional materials can be in English, but if possible, prepare a basic information sheet or packet in Mongolian.
Investors should adhere to sound business and ethical principles. Some Mongolians say that Mongolian customs preclude best commercial practices and that an attractive deal would go through if one ignores these practices. Investors should nevertheless insist on international best practices. Investors who do so will earn the respect of Mongolians and protect their investment.