Providing products and services on a global scale can be intimidating and technical for big enterprises, not to mention smaller scale sellers and entrepreneurs. But with today’s technology, tapping into an international setting is made even easier. The individual setting out on their journey to reach an international market should know a few tricks to make the transition simple. How do you relate your products to countries foreign to your own? Will the language barrier cause any issues when partaking in business transactions? What rules and regulations should you adhere to when engaging with clients? Located below are a few techniques and strategies you and your colleagues should consider when tapping into a foreign marketplace.
When first starting out trying to acquire international customers, often a grandiose vision of becoming a jet setter flying on private planes sets in. While this vision may become a reality for some, it’s best to start your endeavors with a digital approach in order to minimize your risk while increasing your success.
Internet usage has had linear growth for over a decade with no sign of slowing down any time soon. In fact, statistics are now revealing that the internet is freely available in over 243 countries with specific business needs in these areas that are untapped to the average business person. To get connected over a large scale like this, make sure you have an internet and phone plan set up to accommodate you. Frontier, a company which offers business internet plans has some programs that go as fast as 40Mbps. This is a perfect opportunity for you, and the products or services you offer, to extend into an international brand that helps people around the world. By engaging with potential clients within a digital medium, you create value for them without having to invest in flight costs, hotel accommodations, and marketing strategies for that particular area.
Understand The Culture Of Specific Regions:
Many newfound entrepreneurs and business owners fall into the logical fallacy of thinking their current market extends onto a global scale. For example, the market needs and product requirements of second and third world countries are vastly different than they are within a first-world country such as the United Kingdom or the United States. Using this understanding will allow you to properly research specific areas of interest and what the individuals that inhabit this area will require from a business opening in their city or country.
To give further illustration of this issue, let’s use the release of Google’s Pixel smart phone into the international market. While Google experienced a plethora of success within domestic markets, it failed to make a substantial impact within their global reach. One country in particular, India, failed to reciprocate the love that the phone received in the United States. In fact, many experts believe that this failure comes as no surprise as customers within India were unsatisfied with the premium price the phone shipped with.
By failing to understand their intended customers, the phone was destined to fail in terms of sales goals and marketing reach. Using this understanding within your business will allow you to avoid a mistake that even industry-giants make to this day. Properly researching and interacting with individuals of your target area will reveal many ideas and frameworks that can be applied to your products, services and customer relations moving forward.