Note: This is a guest post by Kristin Savage of PickWriters, where you can get all your language translation needs taken care of by professionals, such as when you are dealing in the markets of a foreign country! Today we look at adjusting your brand when you take root in foreign markets. Kristin’s excellent tips take you through the ideal thought process you need if you want to pull this off.
Every entrepreneur wants to extend their business to larger audiences. After all, going global presents so many opportunities for your brand!
Obviously, it is not as easy as it seems at first glance. There are many aspects to consider and things to keep in mind. However, there are some good strategies or practices that you can follow in order to maintain a steady pace on your journey to global acclaim and recognition.
This article will look into five strategies to help you go global with your brand. But before you jump into them, ask yourself these questions:
- Will your product sell well in the targeted culture? You will start with particular countries, so you have to be sure that they present a healthy environment for your business.
- Is your target market familiar with your product or service? If the people of that country are not familiar with your product, you will first have to tell them about it and explain its importance to them.
- Do you feel comfortable in the country? You will probably have to move to the country or countries temporarily in order to establish business ties and set everything up.
- What is the infrastructure like? You will have to adapt to all of the differences or even inconveniences that the foreign infrastructure present.
Now that you’ve answered these questions and you are certain in your answers, you can dive into the strategies!
1. Choose Wisely
First and foremost, decide on your market. If you answered those questions above and are sure you will be just fine, think again because you might have done not enough research.
Don’t just assume that if something has worked in one place, it will work in another. There are cultural and regional differences everywhere that you should know in and out in order to make use of them to their fullest.
This simple video shows you what the very beginning of your research process will likely look like
There is also no need for trying to opt for the markets that are bigger just because of their size. Bigger doesn’t mean better. Sometimes it is better to be a big fish in a small pond instead of being a small fish in a big pond. Once you have conquered one place, you can move on to a different one.
It is also important to understand that you won’t be doing business just in English. You will have to switch to the language used in each particular region, and if you don’t know it, make sure to find people who do.
2. Plan Ahead
This is perhaps one of the most important steps on your journey to go global. Planning ahead is crucial because if you don’t know what you are doing, you will never be able to succeed. Think through every detail, every minor issue that may arise and how to solve it.
If you didn’t know the answer to the question about infrastructure, then you should absolutely sit down and do the research. Technical sides of business matter a lot. Everything from importing the products into the country to selling them to consumers should be carefully calculated and any underwater rocks must be carefully avoided.
Smaller companies often make the mistake of not planning ahead and ending up in awful situations that they have no idea how to get out of. However, big companies suffer from this too. The best thing to do is to really know what you are doing and how you are doing it. Not just for today, but for tomorrow and after tomorrow and even the day after that.
3. Make The Right First Impression
You are all set with your plans ready and your logistics set up. Now what? Make the right first impression! Arrive with grandeur and make sure that every single soul knows about you.
Your marketing is key here. Target the right audiences in the right regions and see your brand get recognized as more and more people start trusting you. Your primary goal should be establishing good relations with the citizens of the particular country you are currently working in. They need to see that you are a reliable foreign brand that offers good products or services for them to purchase.
The best way to do this is through social media marketing, but if you are not a good writer then this might be a challenge. You can find a good writer on Fiverr and then choose a translator on PickWriter, a translation review website, to have the content translated to your desired languages for foreign audiences. Larger brands can also use preeminent services like Toptal. Words are powerful and they will help you tell your story.
On the other hand, don’t forget about the technical sides. If something suddenly goes wrong, don’t panic. Keep your cool and try to sort things out in a way that nobody even realizes that something happened. Your reputation and future in this market depends on it.
At first, it might be hard to accept the new reality your business lives in. But with time, you will probably come to realize that you have become a fully accepted competitor on the market. Until then, it is important to be able to adapt to your new environments.
You have thought through every aspect of your business in this place and you have done all the necessary research, so you probably know a lot. However, don’t assume that you know everything. We learn throughout our whole life and this is true for businesses too. Don’t try to expect things to happen in a certain way and don’t assume things without having the necessary background for it. Measure seven times and cut once instead of the other way round.
Adapting to any new circumstances is key to survival. Most businesses can suffer tremendous losses before they finally give up and leave the market. You may find yourself in such a situation for various reasons, but one of them is usually either because you didn’t have a plan, or because you couldn’t adapt.
5. Follow The Plan
Last but not least, follow your plan!
It’s funny how so many things can go wrong, but it’s even more peculiar that some companies decide to take on obvious risks while abandoning their initial plans and then ending up bankrupt. If you thought your plan was weak from the beginning, why didn’t you do something about it earlier? Don’t make the mistake of diverging from the plan simply because you think it’s going to be fine. Most likely it will not.
Think of all of those sad stories of companies trying to break out onto a new market only to end up with enormous losses and a spoiled reputation. They either didn’t have a plan, their plan was bad or diverged from a plan they had.
Before taking on any known risks, ask yourself several times if it is worth it. And then, maybe, stick to the plan.
All in all, going global might be a lengthy process that will require a lot of self-discipline and hard work, but it will ultimately pay off in the end. If you follow these practices, you will surely make the process faster and easier both for yourself and for your business.
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