Over the past few years, there is no denying that the internet has been booming. The sheer reach of the Internet has meant that people can now reach others all over the world, and this is something that a lot of clever people are making the most of when it comes to branching into new locations to sell their services and products. Interested in successfully launching in another location? This post is for you.
If launching a business is something you are thinking about and you want to branch into a new territory, you need to put together a solid marketing plan.
This is imperative to ensure that you effectively reach people in different countries.
After all, people in different countries have different…
- shopping habits,
- and tastes…
…and this is why you cannot branch into a new location without a strategy.
Considering that, we have put this blog post together to give you a better understanding of some of the different steps that you can take to launch your business in a brand new location. We hope that the tips that we provide will help you to achieve great success over the coming years.
Choose Your Market With a Lot of Care and Consideration
There is only one place to begin, and this is with choosing a market very carefully. When launching in another location, realize that there are so many different countries for you to select from, so you need to make sure that your choice is a strategic and effective one.
The global landscape changes all of the time. There are markets like the United Arab Emirates that you may never have considered several years ago. However, emerging markets like this can prove to be very exciting for businesses that are looking for new opportunities, so this is why you need to consider all options and choose with care.
To figure out whether a market is going to be fit for your business purpose and your objectives, extensive research is required. There are plenty of different factors that will determine this, including the size of the market and the sector.
- Suitable market demand and size
- Making sure that the market had enough business in English and there are some similarities from a cultural perspective that you can draw upon
- You will not need to change your products or your packaging
- A suitable claim, infrastructure, and supply chain will make distribution straightforward for you
- Your product will bring in the gross profit that is needed
- You have the ability to tap into a market that is already in existence
- The products you sell are appropriate for the culture in question
- You see a clear and evident path that will enable you to bring your product to the market without any offense being caused
Take a Look at Your Marketing Strategy and Be Sure It Reflects the Environment
We cannot deny that marketing in another country is going to pose more challenges, especially when contrasted with marketing done on a domestic basis. This is because you may not have as much of an understanding of what people like and what they are looking for.
Offline marketing tends to be a little bit easier from the sense of traditional methods still having the desired effect, be it flyers or posters. You can also invest in banners to get the word out as well.
We would recommend that you spend some time doing a little bit of digging online so you can determine whether there are any events or exhibitions going on in the areas you are considering.
Exhibitions, trade shows, and such give you the perfect chance to network with people and get the word out about your business.
If you do not have the chance to attend an event in the country in question because of geographical restrictions, do not rule out the possibility of attending an event in your current location. Sometimes there can be events for global businesses so these can prove to be highly beneficial as well.
Now, let’s take a look at your online marketing strategy and how you are going to put this together. There are a number of different areas you need to develop an understanding of in order to get your online marketing strategy perfected.
- You need to understand the differences between your home country and the location in question in terms of industrial, economic, and technological levels.
- You also need to know the different standards, expectations, capabilities, and skills.
- Aside from this, cultural differences, like languages, values, and aesthetics are important, as are political differences and legal differences.
But, the above is still not enough. You also need to factor in the different levels of competitiveness and the varying business practices. After all, different countries have different ways of doing things and it is vital that you respect and appreciate this if you are to have success in your new location.
Produce Enticing and Relevant Content That Will Draw in Your New Audience
One thing that all businesses recognize the importance of today is content.
It does not matter what sort of industry you operate in, what services you provide, or what products you create, it is pivotal that you get content out there that can drum up interest in your business while also showing that you are an authority in your field.
Nevertheless, it is not simply a case of producing content just for the sake of it. You need to make sure the content you produce is being created via the channels your new audience prefers and in their native language as well. It is all about connecting with your new audience on their terms, rather than your own.
So, as you may have gathered, this does mean that you should use the services of a translator or hire a native writer instead.
We recommend that you even think about transcreation, which is a term that is used to describe creating fresh content for a specific region. At present, it is likely that you have some content already in place at your company. Examples include everything from YouTube videos and image galleries to podcasts and blog posts.
You may think that the best thing to do here is to simply get your existing content and translate it. However, you can achieve more by creating fresh content or repurposing your current content with a fresh angle. This is because people have different interests and different ways of thinking.
You may need to think about delivering your content in a different way so that your new audience can better connect with your pieces.
Make Sure Your Ideas and Messages Translate in an Accurate Manner and Do Not Cause Any Offense
There is nothing more embarrassing for businesses than intercultural blunders. The last thing you want to do is cause offense because something has not been translated correctly. However, this is something that can easily happen if you use one of those cheap auto-translate tools.
Related: 20 Epic Fails in Global Branding
All you need to do is a quick search online and you will be able to read a lot of different stories about translation blunders and things that have gone wrong because people have cut corners when it comes to translation. It is really not worth the risk.
One thing that a language software tool is never going to be able to do so is to detect the tone or feel of a piece of content.
Moreover, there are some words that have dual meanings, depending on the way in which they are used within a sentence. This is something that auto-translate tools are not always able to pick up. This is why it makes sense to invest in the services of a professional translator so that you can ensure that your content is not only correct but that it is written in an attractive and enjoyable manner as well.
Just think about the damage it can cause to your brand image if you were to put content out there that had heaps of grammatical mistakes and did not make sense. It would not look great, would it?
This can end up hurting your brand image because people will assume that you apply the same lack of care and attention to detail in other areas of your business. This is not the sort of impression that any sort of business is going to want to give off.
Successfully Launching in Another Location: In Summary
So there you have it: a few major concepts that you need to know about making a successful move into a new territory!
We hope that the advice and information that we have presented above will help you. Yes, it is going to take a lot of work and careful planning on your behalf, but we can assure you that it could be well worth it in the end if you successfully branch into that new location. Then, you can start to think about where in the world you are going to try and successfully break into next! 🙂
Are you ready to start launching in another location? Where are you interested in taking your business?
My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.