We’ve learned that incremental changes are the best in achieving long-term, lasting growth.
That’s why we’re advising you to focus on one stage first, and then go up from there.
Ever wanted to know how to adjust your brand when looking to extend it into foreign ever-growing markets?
If others did it, so can you!
1. Motivation for Expansion
But you know what?
It’s 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 and practices that you can follow. That way, you can maintain a steady pace on your journey to first local and then even global acclaim and recognition.
This chapter will look into the most effective branding strategies that will turn your business into a local and even global force.
2. Dominate Your Craft and Become the Best Local Business
A business starts with an idea and that idea has to actually solve a problem, a need. If you want to stand out and succeed, these two need to create a synergy each time you come in contact with your customers.
Your offering needs to be constantly solving their problems.
To this simple equation, we’ll add many more branding tools, so you can truly dominate!
But how, you ask?
The first step is actually being a professional at what you do and bringing as much value as you can to your customers.
Let’s say your craft is coffee-making and you own a coffee-shop. Apart from brewing an exceptional array of beverages to have on lunch break, you can add a small library, or offer co-working spaces for your lovely clients.
The second thing is to gradually begin targeting new customer markets. In order to effectively do that, you need to ramp up your advertising efforts.
Continuing our example above, you could first start to open a few more coffee places in your town, then look into the conditions of neighboring cities, only to – why not?! – become a globally recognized coffee spot for young, entrepreneurial book lovers. Wonderful!
This leads us right into the third: be easily remembered.
The goal of marketing..
And it all starts with a logo.
3. Expand Through Mergers or Acquisitions
“If you want to go fast, go alone. If you want to go far, go together.”
The best conquerors were wise enough to make alliances and continue expanding their reigns until becoming empires. Some even settled and, with time, blended into new structures through assimilation.
Likewise, businesses can become stronger by expanding through mergers or acquisitions.
As you are a business owner, these things may already be familiar or already happening. Either case, here is what Investopedia tells us about these terms:
“Mergers and acquisitions (M&A) is a general term used to describe the consolidation of companies or assets through various types of financial transactions, including mergers, acquisitions, consolidations, tender offers, purchase of assets and management acquisitions.”
4. Why Not Expand As A Franchise?
“the right to sell a company’s products in a particular area using the company’s name”.
5. Finally, why not become a global brand?
Long gone are the days of medieval conquering, but the marketplace is still a pretty competitive place!
In order to become a leader of your industry, you need a lot of things: an idea, a vision, courage and ambition, tools to accelerate processes and make things more efficient.
Last, but not least, great teams that will make your brand shine.
Everything requires passion, dedication, and skills.
But it all starts with a distinct logo that visually story tells the vision behind your brand.
6. Conclusion
Key Takeaways
- Have a great motivation for doing the expansion altogether! Maybe you love being local.
- Become the best in your local area. Grow a family-like clientele.
- Expand through mergers and acquisitions. Create collaborations that will help you grow.
- Try offering your own franchise! Extend your trademark to like-minded entrepreneurs!
- Become a global brand. Grow your influence and leave a legacy!
