Step by Step Global Marketing Strategies
Wandering when and why should you go global? You might be thinking that global marketing is only for large businesses. It is not true because now is the age of the internet that has made the world very small. Due to the technology, now people are introducing their small businesses in international markets. Netflix is a common example that has started from a small e-commerce store, and now it is expanded in more than 190 countries and has millions of international subscribers.
You can go global today by following the right global marketing approach. Numerous reasons need to go global like increasing revenue, an entry in new international markets, making a new customer base, presenting your products in different ways, talent access, multiple competitive advantages, the company's reputation builds strong, and more savings. So if you want to expand your business to other countries, you should plan to go global today. Most companies think they have to build their entity to recognise internationally, but it will take more time.
To go global, businesses need a global marketing strategy. This strategy will help you to expand your business to international markets. This article has presented a step-by-step approach to global marketing. Keep reading, and it will help you to recognise your business internationally. Let's get started.
Step By Step Approach to Global Marketing
In this section, you will learn ten steps of the global marketing approach, all the steps are equally important, and you cannot go to the next step before completing the previous. And if you try to reach the last step by skipping any of the steps, you might not get the success you are planning. If you follow the below steps and the method used to achieve the approach, you will successfully go global.
Step1. Analyse Marketing Demand and Product Viability Test
It is the first step of the global marketing approach in which you have first to find out the marketing demand of your product and take a viability test of your product. It is necessary because failure can negatively impact your brand if you take your product to global markets. Especially if you are running a small business, you should take the product viability test to prevent such failures. The following points will help you to get through this step.
First of all, you should check the countries that have a huge demand for your product. For this purpose, you can explore Google, Facebook, and other social media apps and then decide which country has a higher demand for your product. Would you please make a list of the most demanded countries and choose one of them?
Ask the people why they should use your products. Make a proper plan to introduce your product to them. It is explained in the next step that is the conversion funnel.
Talk to the local people and ask them why they are using the same product as you offer. You can get the data of the local people that showed interest in the related products from a local research firm. Ask for the feedback of a small group in the targeted territory. And then invite some of them to use a prototype to get responses of them. Be sure to understand the problems they are facing with the existing related items to avoid this problem in your products.
Change the plan if there is need-based feedback. And make sure your product is viable in the targeted country.
Always choose a country with more demand for your product, and you can launch it at less cost. Your product will have less cost, and people will show more interest in your product, but if the marketing cost is higher, you have to set more prices for your product that might not include a sale on a large scale.
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Step2. Define Conversion Funnel
After when you have decided the country to target where you will market your product, you have to define your conversion funnel. A conversion funnel is a journey of the general interests of the customers in your brand to a specific interest. It is also a way from curiosity to become a particular customer of your brand. Check the area's businesses to determine what kind of competition you face in the targeted market. In this way, you have to decide what kinds of efforts can lead to the success and failure of a similar product. Visit the website of your competitors and evaluate the sales and promotion before launching your product. This step can be divided into some stages that can elaborate this phase in easier steps.
Awareness Stage
To capture the audience, you have to run an awareness campaign. Even if your product is new in the market, you have to build strong awareness. It will work as the base in the growth of your business internationally. It is about getting the consideration of your customers at the right time. Like you can make a blog that will tell the benefits of your product or why they should use your solution. It is about building a healthy sales pipeline to catch more customers and increase sales.
Interest Stage
In this stage, the casual viewers are converted to particular customers. The customers know your brand, and they will know how you will meet your requirements. You have to build strong website content for this purpose so that international customers can attract to it.
Consideration Stage
In this stage, your customer will think deeply about your brand, but they are still in the competition mindset, so you have to build a more efficient website and product to leave other similar solutions and choose yours.
Decision Stage
In this stage, you are very close to the sale process. You have to help your customers, as some promotions or incentives. In this way, more customers will attract to your brand that leads to higher sales. These stages will help you to go global as you have comprehensive knowledge about your customers and competitors in the international market.
Step3. Take Care of Language and Culture
As you know, every country has its language and culture. No doubt most of the countries speak and understand English. But it is not true for all the countries around the world. Europe and the Gulf States work in their native languages. So when you are planning to expand your business from a local brand to an international brand, you have to consider the language and convert your brand's message into their local language. You will not only deal with the new language, but also you have to know about cultural differences. There might be some sacred words in your country, but they might mean nothing in other languages.
Language and culture is the mean of communication so its importance can never deny. It is a barrier between different countries. Cultural differences can influence sales, payments, and delivery. So you have to make the right decision to overcome these differences and successfully launch your product in foreign markets. You can do it as follows.
The first and foremost thing is to do more and more research about the differences of the targeted country from your country. Check how your industry is different for different countries. Here you can discover solutions and approaches to deal when going global. Try to check the situation from global and local perspectives.
Do not try to adapt your whole business to other countries. Begin with an individual product or solution to make it up to the level of the targeted country. Test it after some time and choose the best practice.
The best thing is to build a team of experts or hire an advisor to help you work in their countries. The advisor will have a piece of deep knowledge about the language and cultural differences and can help you get through it. Another way is to build a translation team that can translate your company's message into the native language of the targeted country.
To conclude, it is right to say the cultural rules are very important in international markets. So be prepared before heading into the international markets.
Step4. Define Product and Build Landing Page
In this step of the global marketing approach, you have to know what kind of product you offer. If you notice that your product does not meet cultural differences, then alter the product accordingly. You have to know that a new country requires a different way of promotion, then you can do one of the following.
Don't sell your product in that country.
Change offers that meet the foreign market trends.
One of the biggest examples of this change is McDonald's. They are running their business in almost 119 countries around the globe; they change their menu according to the interest of the customers of the targeted territory. They work according to the local people's interests and change their palate according to their demands. And it is the best solution for those who are wondering about launching their branches in foreign markets.
A landing page is a step for a visitor to become a customer. On your landing page, you will have to tell all about the promises of your brand. It includes pricing and deals. So landing page is also very important when going global. Build a landing page of your brand that will meet all the country's cultural rules where you want to launch your brand. The people will visit your company's landing page and get to know all about your offerings. Here they will compare your products with other similar available products. So be sure to build the right landing page. It can help you in following.
Landing pages are very helpful in grabbing the attention of new customers. It will depict the impression of your company.
The landing page will help you to diversify your business goals. These pages can help you to close sales and target your audience.
Modern business is all about content marketing so that a landing page will make successful and efficient content marketing.
The landing page will also build credibility. It is essential in an online business more than money. So good credibility is possible due to the right landing page.
Step5. Setup Google Ads for Different Countries
Google ads also play an important role when expanding your business to new international markets. You have to set up Google ads for different countries. It can capture the attention of the local people in every country. You are required to research the country's regulations properly and then set up Google ads. You have to build the right strategy when you are launching your brand in different locations. Launching a new campaign is about testing a new platform or strategy. But new campaigns are also expensive. But you will set your budget for advertising.
Google ads will help you to reach potential customers when going overseas. In this way, you will check how many people have shown interest in your brand. You will have an idea of who has viewed Google ads and visited your website. Then you can target specific people in the Google ads about your company. This way, you will know what approach will be good to set up the right Google ads. You do not need to worry because you only have to pay for those who clicked on your ad.
Localize your ads that contain local keywords and landing pages. Keep in mind that in different countries, potential customers search with different keywords. So keep in mind the cultural difference of the country. You have to know how different markets behave online. Use a display benchmark tool to help display your campaign by comparing it with the rest of the related industry. Now decide the goals for international markets like selling products or services, building customer loyalty, enhancing brand reputation, and engaging with potential customers.
You can choose what kind of Google ads you want, like search or display. The search option will show when users search about a specific product, and the ads will appear. The display option will show ads to capture the attention of the people. So be sure to use the right tools to set up Google ads.
Step6. Setup Facebook Ads
Facebook has also become a great marketing tool in this modern world. It has reduced guesswork and has clarified how a particular country will behave in response to your product. They target the international locations closely. There are different targeted options. It all depends upon the keywords you use. Like if you want to introduce your brand worldwide, then the worldwide keyword will help you. And if you want to target a particular geographic area, you should right the keyword of the name of that state and city. You can also target a particular audience with other features like age, gender, connections, etc. Facebook will show your ad to the targeted people and tell you about the performance.
Millions of people use Facebook, so you can test before practically implementing your product in the targeted country. You will get the response of the people of that country and can decide whether you should go for launching your branch in that country or not. Facebook ads will help you in following.
It will help you to build the right conversion strategy
Response of people
What changes do you need to make
Cultural differences
Rules and regulations
Furthermore, Facebook will help you a lot in recognising your brand internationally and increase your potential revenues. You can also hire an expert to figure out the competitors and expectations of the people about your brand.
Step7. Setup Social Media
Now is the age of social media, and half of the world uses social media daily. And it has now become an essential part of the success of a business. Most people still think that social media is not necessary because they have a small business. It is not true; social media has great importance, even if the business is small or has no idea about social media. Make professional accounts of your brand on different social media accounts and then promote your business using specific keywords. It can leverage the following benefits.
It will help you to build a relationship with your company with customers.
You will compete and will also learn from what your competitors are doing to grow their business.
It is a low-cost marketing solution and will help you to grow internationally.
It will reach potential clients.
It will also show your brand when people will search for the relevant keyword.
You will learn about the cultural differences and make the right conversion strategy to reach potential customers.
It is the best way to communicate with the people of other territories.
You can get a better idea about your customers' interests and change your product according to international market requirements.
Social media is a great opportunity to engage your potential customers with regular updates of your brand, and it will also build the trust of the customers in your brand.
It will experience numerous international markets at the same and will depict the responses of your potential customers. You can make changes accordingly and have a proper plan to launch your product in a new market.
Step8. Approach Local Ads/PR Agencies
The Google and Facebook ads help grow business internationally, but the local ads are equally important; these do not make direct sales but directly provide your potential customers. Global marketing is not possible if you neglect the local cultures and other differences. It is about making a balance between consistency and diversity of different international markets. You are advised to contact a local Ads company that will help you to promote your brand. Britvic's Barwell said that global campaigns only work when combined with local mindset and similarities across the border. You will have the following benefits of hiring a PR agency to promote your brand.
These agencies know the interest of the local people so that they will deliver the right message.
They know the differences and sensitivities of the culture, so that they will make campaigns in the usual manner.
The people will come close to your brand as this is in their native language.
They will help to promote awareness of your brand that can help in catching the attention.
So keep in mind that local and global advertisements are equally important when expanding business to new markets. The local PR agencies will help to seek the attention of local people that leads to more potential customers and an increase in revenues.
Step9. Partner with Local People
One of the most common neglected parts of the global marketing strategy is that the marketers do not get help from local people. Kelly has said, "Most bigger companies hire highly competent people to work for their global strategy, but they have proved inefficient when making strategic plans." She always said that the companies that do not partner with local people face failure because they do not have the right plans.
It is difficult to work in a new place without having proper knowledge of the country, the best solution to this problem is to partner with local people. The local people will prove a valuable resource. You can get their feedback and make decisions based on their decisions. You can pick one of the following strategies.
Local strategy with Local Implementation: You have to build a local in your targeted country. It will help you find influencers in their country and then find the right way to launch your brand.
Global Strategy with Global Implementation: the global marketing team will help your company build a relationship with local influencers. Local teams will help to localize the marketing approach.
Global Strategy with Global Implementation: the global marketing teams make standards for working with local influencers of every country, then localizing your brand. All in all, the local people help you build foreign markets' trust in your brand. The local business partner will make efforts to grow your brand's reputation. They will give feedback about the local customers and tell them what to do to improve your services. So you have to find the right people that can work in their countries on your behalf. You can take your product to international exhibitions and expos, where you will find the right influencers that can guide you to expand your brand to their countries.
Step10. Define Emergent Strategy
As you know, going international has numerous challenges, so you have to make a backup plan in case of any emergency. Your intended strategy may fail to produce desired results, so you have to define an emergent strategy. That is why it is different from deliberate, intended strategy. An emergent strategy can help you address the failures in your business, especially if you are introducing your brand to a new market. A new market has variant features from the local branding. It is about balancing business goals according to change circumstances. There are following changes in the business that can ask for emergent strategies.
Suppose there is an unexpected change in the market of the company, as an increase in demand. So you have to make an emergent plan to meet these changes.
There might be some fluctuations in the economy that requires emergent strategies. So you should define your emergent strategy if your brand faces any economic changes.
When new ideas come into the market, then there is a need for emergent strategies.
The emergent strategies will make your brand flexible and scalable, and you will maintain your brand's reputation. Due to high competition, an emergent plan is essential because if a company fails to produce an emergent strategy, it leaves the race competition. It can give your companies more opportunities for your business growth and the creativity of your brand.
Conclusion
Going global and expanding your business is a challenging task, but it produces more opportunities for the growth of your product. There is a need to overcome the risks of foreign branding for guaranteed success. Cultural difference is the biggest risk when going global; you have to meet people with different languages, environments, and cultures. Different steps can help you to expand your business to international markets.
First, you have to decide where you want to launch your product and check the people's response. After deciding on a country, you should learn about the cultural differences of the targeted country. It would help if you searched for your competitors' websites and then built a strong website and landing page that meet the cultural sensitivities of the country. Social media help you go global; you can set up Google, Facebook, and other social media campaigns to drive international markets. You can partner with the local people and local influencers for the right branding and delivery of the message in the native language of your brand.
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