Sunday, 13 June 2021

How to Expand Your Marketing Strategy Abroad

What is an easy marketing strategy? You should not expand your business abroad.




Harvard said it was only 40% of companies that reached 3% ROA, which they took five years to reach. Other companies failed.

But why do businesses fail at going global?


One of the most common reasons is the lack of adequate localized marketing strategies. The company failed to recognize the real needs of its new target audience, thinking that their previous marketing strategy would work well abroad.

If you plan to go international with your business, you need a marketing strategy that captures the attention of your target audience overseas.

How can you create one?

Let's see. Expand your marketing strategy overseas.

1. Research Your Target Audience:

Who is your ideal buyer? What are they looking for in your product?

Before entering the foreign market, you must have these questions. That's why audience research is very important.

In general, to create the persona of a target buyer, you need the following information:

Demographics: age, gender, language, location, marital status, education, work, income, etc.
Psychology: needs, hobbies, interests, challenges, constraints, buying behavior

For a B2B business, this information may not be enough. In order to identify the requirements of their buyer, B2B companies also need information about the state of work, industry, etc. If you own a B2B company, you can steal this information from your company LinkedIn account:

Demographics and psychology are enough to form the basic audience personality. But you don't look for the basics - the more details you have, the better your international marketing strategy will be.

To find out more about your new buyer, take a survey. A survey will be aware of their content preferences, approach to advertising, preferred communication channel with the brand.

2. Learn the Language of the Target Market:

Studying foreign markets is one of the biggest mistakes when it comes to international marketing strategies. Instead, what you should do is go to the country and study the market.

All you need is to learn, at least the basics, the language of this country before you leave. Why? Knowing the language will help you understand the logic behind people's culture and buying patterns.

For example, learning Italian might tell you that Italians prefer to buy products in small shops and markets rather than in a large supermarket chain. Because you'll learn Italian culture along with the language, you'll also learn about the products Italy likes to buy every day and every week.

Knowing your language will also help you understand where to target your content. You will spend a lot of time to explore quora and reddit, to find out the intent of your target buyers. By doing this in your mother's language, you won't be helping her identify true intention.

3. Study Your Competitors:

In the end, you can't build a successful international marketing strategy if you don't know your competitors well. It is essential to examine the local business marketing strategy. Plus, learn about other companies that have grown from overseas to target markets.

What should you be looking for during competitor research?


Top Marketing Channels. Where are your competitors advertising their products? Is it social media, search ads, blogs or other channels?
top keywords. It is common to steal keywords from competitors if you want your content to continue with comparisons to theirs. You can do keyword research from your competitors through the AARFS Organic Keywords part on the Explorer site (you can also choose keywords for some countries):

Top Content Explore your competitors' content across different channels and determine the type of content that is most often combined by their audience.
Of course, stealing all of your competitors' marketing strategies is not an option. But you can use competitive analysis to identify opportunities and content gaps that you can fill in order to advance your competitors in target markets.

Conclusion:

Creating a successful international marketing strategy is not an easy task. However, you cannot give it up and you can rely on existing knowledge. The reason is simple - your new target audience will need a lot.