In this article, you'll learn...
- How to maintain cultural relevancy when reaching global markets
- Six tips to consider before you go global
Before taking your brand into the global market, make sure you've done the proper market research, hired the right staff, and implemented the necessary cultural checks needed to succeed. Here are six steps all brands must consider before going global.
1. Look for fertile ground
The world is a big place. Decide which markets are ripe with low-hanging fruit, and start there. Research your target audience in your target country. Solid market research will provide the foundation for your new empire.
What channels are your target markets paying attention to? Does the demand exist for what you have to offer? Understand that breaking into new markets takes seed capital, and cultivate the patience to let that seed grow.
2. Plan before you dig
Tailor your marketing strategy to each new market. Blanket strategies can be effective if resources are limited, but we all know that segmentation rules.
Will you be implementing a support team for your new markets? What training programs will you need to keep your brand's level of service consistent across all borders?
Will your expansion into new markets include an online integration, TV spots, a sales team, and billboards? Know the scope of your project before you begin. Develop a solid market strategy and budget, and stick to them.