Within the last decade, innovation in logistics and communication has eliminated restrictions of geographic borders when it comes to practicing business on a global scale. Therefore, there is a rise in the number of companies entering new markets and businesses are going global.
Companies are taking the leap forward and expanding to international markets with solid global marketing strategies. If you plan to take your business global, this article will introduce you to global marketing tips that will come in handy for your expansion strategy.
The opportunities that come with growing your brand on an international level is definitely drool-worthy. But you also risk losing a lot if you don’t do it right. If you want to develop a strong global marketing campaign, here’s everything you need to know to make sure your brand really goes places.
The present and future of global marketing
Technology is the present and future of global marketing. As companies have started entering international markets the competition in the global market has become stiff.
The war between competing brands has gone digital and if you fall behind with what’s happening in the world of marketing technology, you will find it hard to succeed in the international market.
Why? Because as of June 2020, we are nearing 5 billion active Internet users globally!
Yes, 5 billion. This is why most brands agree that digital transformation is an integral part of moving a business forward, especially if they want to expand to international markets.
The key to becoming a global success
Before launching a global marketing strategy, it’s best to take a closer look at the feasibility of your business outside of your current location. Remember, you’re dealing with a new market.
What works in one territory isn’t guaranteed to reap the same results in another. You will learn how to market your business internationally only when you research and understand the local markets that you plan to enter.
This process may seem daunting but there are some specific measures you can take to increase your chances of succeeding in the global markets.
Global marketing tips for a successful business
Tip 1: Prepare for international expansion
It would seem obvious to develop a solid global marketing strategy, but you’d be surprised at how many companies fail at it.
Your product or service needs a marketing plan that will guarantee success. Often, this involves investing in several market research approaches which we’ll cover in other points below.
For example, most western products or services are easily embraced overseas. But there will still be some that will face controversy.
Tip 2: Get local help
Affiliates, partners, distributors, and agents can help you get a better feel of the local scene. This is a global marketing tip that you have to swear by because no amount of remote predictions can give you a closer to the real picture.
Conduct consultations and find out if your preferred marketing material will have local appeal. This is a great way to identify which advertising media channels to use and which to prevent.
Tip 3: Be mindful of the local situation
Values, customs, and language are all important factors to consider when dealing with new territories. Especially when it comes to advertising, you’ll want to know what works for a certain demographic.
Again, this is something the local people in the business scene can help you with. So, make sure to get a team with the right knowledge and know-how to gather information and provide valuable insights.
Tip 4: Determine if the price is right
Since you’re going global, you’ll also need to consider the different currencies. More so, you will have to think about the pricing for your products and services.
You’re likely to end up with different price levels for each unique territory where you’ll be marketing. This is because some areas may require a higher overhead cost or you may need to pay more for transport, packaging, and commissions.
The pricing you set for a certain territory must make your overall global marketing plan sustainable if you want your business to succeed.
Tip 5: Know your ideal mix
Some countries will benefit more from social media or online advertising. Other places, however, may produce better results through traditional marketing approaches such as radio ads, outdoor advertising, or newspaper press releases.
Also, you need to check which social media platforms are rocking which specific territories. In fact, during your research, you’re likely to come across platforms you’ve never even heard of.
If you’re targeting the German market, Xing is a good social platform to build your online presence. Alternatively, if you’re marketing to a Chinese audience, you’ll want to create product videos on Tudou.
Tip 6: Get your timing right
It’s important to know if the time is right for you to introduce your product or service. There’s a chance that you may either be too ahead of your time or be falling behind in a certain location.
Of course, there are ways for you to market your brand without regard for timing and still produce good results.
However, it always helps to know whether timing may be a critical factor to prevent wasting resources and seize the opportunity to get more sales.
Tip 7: Look beyond Google
If you’re including SEO in your digital marketing arsenal (which we highly recommend), then you need to think outside of just Google and start getting familiar with other search engines.
For example, if you’re targeting China, then you’ll need to know how to optimize your website and pages for Baidu and 360 Search.
Also, if you want to give your international users the best experience on your site, optimize your pages for faster loading time. This can easily be done by using a reliable CDN service, caching your pages, and optimizing images.
Brands that manage to execute their global marketing successfully have one thing in common, they create a strong local identity and remain consistent across different territories.
That’s because a lot of global marketing has to do with knowing what works locally. It’s like doing market research for your current location. But this time, you do it over and over again for each new territory.
In the end, there’s no one-size-fits-all approach to global marketing. But using the global marketing tips we’ve shared with you above, you’ll create a better chance for your brand to succeed and dominate on a global scale.