How to expand your business internationally
We can firmly say that the Internet has drastically changed international trade. Nowadays, any business can do trials in new markets in a fast, simple and economic way. Using digital marketing and the right online tools, everyone from traditional companies and established Internet players, to startups, can take full advantage of e-commerce.
But, how can you use these new tools to expand your business internationally? Below you will find 10 useful tips to achieve it.
Use online marketing: it is vital to expand your business globally.
1. Analyse available market data from those countries in which your products or services will most appeal. There are some very useful online tools to explore potential markets like Global Market Finder.
2. Discover your customers’ expectations and then exceed them. Find out how your target uses the Internet and new technologies and then apply it to your own product
3. Even if you implement traditional strategies, you should prioritize the digital ones to reach out new markets. This way your company will internationalize itself much faster.
4. Set up a dedicated and agile team focused on exports. If you can operate quickly and autonomously as a separate entity, more appropriate decisions will be made for those markets. Projects will then be able to evolve faster and fluidly.
5. Find a great export manager and make sure he/she leads the team above. This will ensure that decisions related to products, prices, and marketing take into consideration potential international impact.
6. Do not trust the image you have created of foreign customers. Instead, use data analytics tools and analysts research to understand consumer behaviours and its developments. This will allow you to make the necessary adjustments in your website, products, prices and marketing strategy, as well as to keep updated with market changes.
7. Adapt your site to different languages and currencies is a must. There are over 600 languages all around the world, so you can start working on a multilingual website!
8. Adapt the culture and approach only where it matters to your customers. Some markets will need less customization than others. For instance, most people in countries like the Netherlands or Germany speak English so you may not need to translate your site for them. However, in other countries like Spain or Italy, they prefer websites in their own language, so you will have to adapt.
9. Don’t clip your wings! The advantage of being the first to reach a market defines success of a company; so do not be afraid to test your offer quickly in different markets. Thanks to e-commerce, the initial cost is much lower than that in physical companies, which must manage hiring and commercial space; so take advantage of this great opportunity.
10. Think outside the box! Use more than one a channel to reach your target and do not assume that just for creating a new company, customers will magically appear. Use online marketing: it is vital to expand your business globally.