With globalization growing every day, and international clients available 24/7, it makes sense to market your products on a global scale. If you’re marketing your company or products online, or you’re utilizing Facebook or other social media, you’re reaching a global audience, and that means you have to think about your marketing on a new level. If you’re not marketing online, maybe you should.
Why Should I Market Internationally?
First, marketing internationally takes your firm to a higher level, and opens you up to a completely new world of consumers who can use your products. You can also learn more about what consumers in other countries need, and modify your products to meet their unique needs, opening up even more inroads to more profits. You’ll learn more about how to service customers that are moving overseas, and you have offshore competitors, you’ll learn how to compete with them more effectively and even thwart their growth here at home. Finally, you may find a foreign partner that can help market your products and services overseas.
Is My Product Viable Overseas?
Before you start marketing overseas, you should complete a basic market analysis to decide if your goods or services are necessary in your target market. You can do research with other companies doing business their, or local trade organizations in your target locations. Attend trade shows geared to marketing overseas, and see where your products fit in. Use resources like the U.S. Commercial Service, a service that offers a wide variety or surveys, research, and trade contacts for your company to use and contact to find out more about who needs your products and services. You can use this service to analyze whether your products are right for certain markets, and for completing your market analysis. While it’s not a free service, it’s a valuable tool to bring your business to the next level.
Recognize the Differences
Before you jump headlong into the global market, you have to understand there are differences between doing business in America, and doing business overseas. If you’re selling products, you have to realize that everything from regulations to measurements and materials may be different in foreign countries. Cultures, languages, and even ideals differ overseas, as well. Can you translate your product’s instructions effectively? Can you create products that don’t offend or put off cultural differences? These are things to consider before you invest in doing business overseas. Remember that standards and systems can vary even within the same country in many instances, so you really have to do your research before you market globally.
If you do your homework and research the countries you want to reach, marketing your products globally can bring rich profits to your business.