With new marketing trends emerging each year, it’s safe to say that companies have been growing at rapid paces trying to “keep up with the times.” If you are struggling with finding the perfect niche that sets your business apart from its competitors, international marketing could be the game-changing step that could take you from a small, startup business to a “growth company” (any company that increases its earnings at a faster rate than the economy).
According to the U.S. Small Business Administration, “more than 90% of consumers live in countries other than the United States”—this is a significant market, especially for companies that only advertise domestically. Because breaking into a new market can be overwhelming, we’ve compiled some international marketing strategies and tactics to help make the process easier.
So how do you get started?
If you’re based in a different country than the majority of your target market, start by researching where they are most located and how to best accommodate their needs. Some of these marketing tactics could potentially help in building your international buyer base:
1. Create Surveys and Gather Consumer Data
By creating your own surveys, you have the power to ask questions that cater specifically to your target market. This information can be beneficial in examining how others perceive your business and ways to implement positive change. One of the ways this can be done is by investing in a great survey platform.
Companies like Copart use survey platforms such as Confirmit, Qualtrics and SurveyMonkey to gather Members’ responses. By asking the “5 W questions” (who, what, when, where and why), businesses can take a deep dive into their customers’ thoughts, experiences and suggestions. This information can then be organized and repurposed into buyer profiles, which the company can use in their upcoming decision-making processes for the fiscal year.
2. Target Your Ads
Businesses strategically use targeted ads to assist them in locating their core audience and identify their buying behaviors. If research shows that your target demographic is based internationally, an investment in targeting your ads to those customers could result in more likes and comments on your company’s posts, more followers, more subscribers, etc.
Remember that not all ideas are translated consistently. How a phrase is perceived in the United States can be interpreted differently in another country. In international marketing, it’s best to research the countries you’re targeting in advance to avoid any possible miscommunication.
3. Implement Modifications Based on Feedback/Insights
Once you’ve gathered your feedback and consumer data, be sure to implement any possible changes that can help your business reach its goals. By following through on your customer’s concerns and/or feedback, you can solidify a loyal buyer base. Customer loyalty is key in developing internationally.
4. Take Advantage of Networking
Ensure you’re properly leveraging social platforms like LinkedIn, Indeed or Meetup to reach international markets. These platforms allow you to join social groups, connect with people who have similar interests and who could support your international marketing objectives.
Through networking, you could potentially find an authorized representative within your target market’s international location to act on your company’s behalf in person. Having an authorized representative on hand allows your buyers to effectively communicate with a native-speaking person, which could also assist in solidifying your business’ customer loyalty.
How is your business utilizing international marketing tactics? Has it benefited your company’s bottom line? Let us know in the comments below!