Know your audience.
The world is getting smaller, thanks to technology, the internet, communication possibilities, and the like. The opportunity to reach large audiences around the globe is driving businesses to operate on an international level. When a brand plans its next strategic move, focusing on breaking borders, it should address these issues:
Dominance of every market begins with the right product. It may be a high-level service, a new approach to an old problem, or a low-cost alternative to what has always been considered an expensive product. Be unique, and let your audience know where your specialty lies, as you match the uniqueness to potential local consumers. Airlines introduced a product that was previously considered costly and not for everyone, and that is now used on a regular, almost daily, basis.
In the past few years, firms like Wizz, easyJet, and Ryanair have begun landing in airports and regions that they never had before, reaching new audiences as they fly.
We look, articulate, and behave uniquely in different continents, countries, and even cities around the world. The computing firm Dell changed its name in 1988 from PC’s Limited, shortly after opening an outpost in the UK.
As they go global, some firms go so far as to rename their product or brand for location reasons, since a name that was previously flawless might have a negative meaning in a foreign language. Logos and brand colors may need to be adjusted or replaced to better approach locals without antagonizing them.
Chinese customers value particular features that Americans do not see the point of, requiring revisions of marketing and product characteristics, such as product size, quantity, packing, design, service characteristics, etc.
Export and import procedures differ from country to country, taking into account their individual challenges.
The United States is the world’s largest corn producer and exporter, producing 366.6 million metric tons in the 2018–2019 season. The United States need not worry about corn import creating competition. Therefore, the United States’ corn customs policy differs from that in Botswana, the smallest corn producer in the world.
Export costs, derived from customs expenses, are critical to pricing and selecting the best markets for your product.
The US Food and Drug Administration publishes a list of regulations for food and drug import and export procedures: transportation, storage, and usage. Other countries have their own set of rules and regulations based on their climate conditions, geography, and population.
2020 is almost here, but around the world, tradition and culture still play a role in our lives as consumers.
The pork market in Jewish communities is shallow. In contrast, beef is the least popular meat consumed in India, just like dress codes affect garment and fashion sales, all based on religion, faith, and tradition. Tradition, holidays, and festivals control sales graphs, generate demand, and create bottlenecks, so these are valuable objectives when planning a global take-over.
Choosing the right partner can make or break a business, whether working in a local market or a global one. A vendor or supplier should be considered a partner who is aspiring to grow and be as successful as you both can. Though a complex mission, finding a local partner that can be trusted and has a deep understanding of the market that you wish to conquer, across the ocean, is worth the effort. Upon introducing free shipping service to Israel, Amazon had to partner with local forwarders; as a result, they faced new hurdles and service-quality issues.
Starting a new business is not a task for the faint-hearted; taking it to the next level and turning it into an international business is significantly more difficult and challenging.
At times it will feel like you are starting from scratch, building a new audience, understanding the market with the hope of dominating it, re-encountering obstacles that were long ago passed successfully. Now, however, these need to be approached in a foreign language, in a new environment and in a new country. Devotion to the mission will push you toward fulfilling your goal and leading the firm to the next victory.
Uniqueness, diversity, devotion and partnership make our lives as people, customers, and business owners exciting, and force us to be curious, open-minded, and accepting of new worlds and cultures, while flourishing personally as well as corporately.