Today’s small businesses are born global, not local. Small businesses are now the lifeblood of the UK economy and play a vital role in the country’s economic development. The future for your business is to export internationally using your active web presence. The internet is one of the cost effective way of selling products in global markets.
For taking your business globally it is requires some investment. This investment is primarily in terms of building relationships, cultivating opportunities and making the effort to travel. In this way you are not only expanding your market, but developing contacts, exchanging ideas and imagining new opportunities for both you and your partners.
Why global strategy is important for your business?
You must ensure that you properly localize your sales and marketing approach for each individual foreign market.
Many companies invest heavily in localizing their product information and web presence, but fail to localize their Search Engine Optimization (SEO) and internet marketing strategies. This means their websites will not rank well in search engines and they do not see the desired return on their localization investment.
From a company perspective, international expansion provides the opportunity for new sales and profits. Growth can make good business sense – better brand recognition, building value in the business for employees and customers, offering a wider range of products and services to a larger geographical market, and creating “economies of scale.
Steps to expand your business Globally –
1. Know your company and your industry – Before you can determine if your products or services are a fit for the global marketplace, you should have a clear picture of where your company (and the industry in which it operates) is today, and where it will be (as well as where you want it to be) tomorrow. Don’t forget to consider supply constraints and other factors that might change your product or service lines later. 2. Determine how your business model translates – There are numerous ways for companies to enter foreign markets, including exporting, importing, joint ventures, licensing and off-shore production. For firms that produce, manufacture or resell goods, exporting is usually the easiest and least risky method. If you are interested in exporting, don’t overlook indirect exporting, where an intermediary familiar with business in the target country handles the actual transfer of goods.
3. Identify and investigate target markets – As with starting a business in the U.S., you need to find a market that is hungry for what you have to offer. However, the issue isn’t just demand. You must consider all the factors, positive and negative, that impact your ability to penetrate a market. You might need to make adjustments, such as changing the manufacturing materials to meet environmental requirements in certain countries. Or, local content initiatives like those mentioned earlier might require you to refine your manufacturing, distribution or sales model.
4. Develop a business plan – The business plan you created when you opened your firm, and any subsequent plans you have made for operating or expanding domestically, will not translate directly to foreign markets. You may be able to adapt it, or you may need a new plan entirely. There are many issues to consider, including:
• Potential markets/sources/customers.
• Import/export pricing strategies.
• Initial financing streams and anticipated revenues.
• Additional costs (e.g. marketing; shipping; inventory storage; storefront; travel).
• Legal, regulatory and licensure requirements.
• Potential partnership or investment opportunities.
• Sales model (Internet or location-based).
5. Develop local leadership – All international markets work a little differently. Each country has its own rules and regulations, cultural expectations and language. These factors are challenging to navigate and can be difficult to overcome. You need strong local leaders who understand the language, the culture and the ways business works there. Find people you can trust to communicate your vision effectively and clearly to your growing foreign office.
Global Marketing for Business –
Global marketing is defined as the process of adjusting the marketing strategies of your company to adapt to the conditions of other countries. If a business not to extend internationally, it can face domestic competition from international companies that are extending their international presence. The presence of this competition almost makes it a requirement for many businesses to have an international presence.
There are many benefits of Global marketing when it is done right.
-Increase Sales and Profits
-Improve the effectiveness of your products or service.
-Enhance your domestic competitiveness
-Gain your global market share
-Reduce Dependencies on existing markets
-Exploit international trade technology
-Extend sales potential of existing products.
-Enhance potential for expansion of your business.
-Sell excess production capacity
-Maintain cost competitiveness in your domestic market
-Increase consumer awareness of your brand.
Uber is an American worldwide online transportation network company headquartered in San Francisco, California. It develops markets and operates the Uber app, which allows consumers with smart phones to submit a trip request, which the software program then automatically sends to the Uber driver nearest to the consumer, alerting the driver to the location of the customer.
Uber’s key focus is to provide dependable and readily available transportation service.
Uber’s goal is to continually expand globally and bring its services to different cities to allow riders and drivers to connect.
To take over the cab industry by being the most cheap, easy ride all over the world
Transportation as reliable as running water, everywhere, for everyone: just tap a button and your car arrives in minutes.
Uber’s Digital Marketing Strategies are: Email Marketing, Inbound Marketing, Social Media Optimization, Strategic Partnership, And Influencer Marketing. Uber adopted all those things instead of commercial ads on TV or newspapers
Airbnb is a trusted community marketplace for people to list, discover, and book unique accommodations around the world — online or from a mobile phone or tablet.
Their marketing strategy is aimed at getting both travelers and hosts for the platform. Its digital marketing relies primarily on user-generated images and videos on Facebook, Instagram, and Twitter (highlighting the cities and properties in its stable), how-to videos and posts geared towards owners, and popular city guides. Their Instagram campaign matches humor with compelling images of different travel locations around the world, making it more than just a service – it’s a travel forum as well.
When it comes to social media superstars, Airbnb shines the brightest. With 13.3 million interactions.
Airbnb Creative Digital Marketing Strategies:
• Digital Marketing via Google Ratings
• Effective SEO based website
• Google Display Advertising for Expansion
We techenvision believe that Digital is the best way to grow globally. The future for your business is to export internationally using your active web presence. Give the wings to your brand and grow your business with us. Call on +91 9561770305, 91 9860995414