Catering to international markets is usually a smart business move. After all, the online marketplace is growing at a rapid pace and is expected to double over the next four years. However, only about 27 percent of these customers come from the United States. It’s therefore crucial for business owners to reach the remaining 83 percent of potential customers if they want to increase their earning potential.
This is important because the majority of online shoppers tend to stick to familiar sites when it comes to making purchases. But being able to effectively reach international audiences requires more than hiring a native speaker to translate or even invent some website copy.
Plan & Research
Although companies or people who have marketable products are clearly ahead of the game here, these folks still need to figure out who their ideal customer is, how to reach them, and how to convince them to purchase the products in question. Business owners should carefully study any current data on who is already buying their products and the current demand for them as well as any rules and regulation that might affect their overall sales.
It’s important to research how people in target countries prefer to pay for their goods and make plans accordingly. It’s likewise a smart move to keep international sales and trade regulations in mind when creating a global business plan for a company.
Know The Target Audience
This can be an expensive process. After all, doing plenty of preliminary research and creating a plan of action are important steps for any endeavor, including taking a business to a global level. Setting production goals is likewise a step in the right direction.
It’s even a good idea to make a trip to the target countries to conduct marketing research in person. It may be beneficial for company leader to move to where customers are living for a time to help make business connections, familiarize themselves with social norms, and discover potentially untapped marketing niches.
It can be more economical to move a handful of senior personnel with proven track records to new locations to manage the branches there. However, hiring at least one local person is generally a smart business move because these individuals will understand the language and social norms better than newcomers will. They can, therefore, serve as a liaison between the company itself and the public it hopes to serve.
What Customers Want
The good news is that customers in every country have similar buying needs. Most people simply want to purchase reasonably priced products from a reputable, easy-to-find company. Gaining a good reputation seems easy in theory but can be difficult in practice. Keeping customers happy and avoiding any scandals, particularly online, is the best way to avoid problems in this regard.
However, posting valuable information on the company website and optimizing the content for the most popular search engines in the target market is still the best way to improve a company’s online visibility. Some companies even create different websites for each of their target audiences.