4 Considerations To Determine Which International Market Is Ready for Your Organization

Audrey Maffre

Senior International Digital Campaign Manager


International

International business expansion is tricky, and not just for businesses exploring for the first time.

Even multi-national organizations can face various problems when entering a new global market, especially if they take a one-size-fits-all approach to expansion. Every international market is unique, and what works for one market may not work in a different territory. Audiences in every country have individual expectations when it comes to advertising and engaging with brands online.

To assist your team in preparing for entry into a new global market, our native-speaking digital marketing experts have identified four top considerations when expanding your business internationally.

 

 

1. Understand local customs, traditions, and cultural sensitivities

 

First and foremost, understanding the local customs, practices, and sensitivities of the market you wish to enter is paramount when expanding into new markets. You need to do your research to avoid cultural missteps, which can offend the local population and severely affect the success of your campaigns.

By thoroughly understanding the local culture, which you can do through comprehensive cultural audits, you can generate campaigns that resonate with your target audience more effectively. This step helps your marketing team determine which market offers the most opportunity for your brand, product, and services.

2. Develop market-specific KPIs

 

Since every market offers unique challenges and opportunities, you can’t expect to use the same KPIs in all international territories.

Given the time, money, and resources needed to enter a new market, employing generic KPIs will only hurt your chances of gaining a foothold. Instead, think of every market as a unique opportunity. Research each territory thoroughly and take advantage of its uniqueness, with relevant KPIs based on that country’s consumers, economy, and other factors that could affect international business expansion.

3. Consider the current economic status of the country

 

Every country does not have the same level of economic development – meaning consumers in different markets can have a wide disparity of varying income levels. As such, a competitive price point in one territory may be considered unrealistic in another, pricing you out of the market.

One example is Chile, considered a High-Income Nation by the World Bank. The country has one of the strongest economies in South and Central America. Therefore, digital marketing campaigns that resonate in Chile might fall flat in other Latin American nations because the marketing price points are too high.

 

 

4. Research how to reach your target customers best

 

Not all countries use the same digital channels, and you cannot expect an international audience to respond positively to marketing campaigns that utilize channels they are unfamiliar with.

After all, any campaign is bound to fall flat if nobody ever sees it.

For example, for consumers in China, instead of using Facebook or X, the biggest social media site is Weibo. Make sure your international marketing efforts will engage the highest number of users, help drive conversions, and increase the growth of the business internationally by better understanding consumer engagement in your target market.

 

Taking the plunge

 

International expansion is not always easy, but with the proper preparation, research, and planning, expanding into new global markets can be an exciting (and potentially very lucrative) endeavor.

Interested in expanding your business globally?Take the first step with our whitepaper download


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