Most companies choose to begin domestically. They’re comfortable with the culture and they have a general idea of the strategies, products, and services that people in their homeland prefer. However, for most companies the goal is expansion, and entering an international market is a great way to do that.
International vs. Domestic Marketing
There are many benefits that come with marketing to an international audience that exceed expanding your business. It’s also a good way to improve your brand reputation all over the world, meaning customers will ultimately be more satisfied with your products. Besides that, you’ll be able to network with important people and create future opportunities for both growth and returns. If your international marketing techniques are successful, you’ll be amazed at the privileges that come your way.
That being said, domestic and international marketing strategies have some major differences. It’s vital to recognize the unique culture of your audience before engaging in any marketing efforts. You won’t know if what you’re saying will be offensive to a certain demographic unless you do your research.
Likewise, not every social media network will work the same way in every country. For example, the Chinese government blocks Facebook from being used. Therefore, trying to use mainstream social media marketing techniques to draw an international audience won’t be successful here.
The Best Countries for International Marketing
As you begin to market towards other areas of the world, start with those whose economies are booming. Here are just a few countries that are currently experiencing high market values.
Currently, India is slated to have the fastest growing economy in the nation, even beating out China, which has held that spot for decades. The real estate market in India is particularly lucrative, which strongly suggests that the fiscal market is going strong. For that reason, you know that they’ll have a strong economy in which to buy and trade goods.
Denmark is also on the list of high growth marketplaces with potentially unlimited growth in the foreseeable future. They offer plenty of opportunities for multiple overseas businesses, particularly technology and agriculture.
While China in general is a little difficult to penetrate at an international level, Hong Kong is booming. They are a key port in the global financial center framework, and the people there are generally very interested in doing business outside the country for its vast opportunities and business prospects.
Another highly profitable business country is Ireland where tourism and commerce are alive and well. From outsourced call centers to international communications, Ireland is a great place for business expansion, as well as product marketing.
The residents of Sweden have long enjoyed a higher quality of life because of their interest in self-preservation. They have been known to have an air of neutrality and equality on an international level, which means they’re willing and able to do business with nearly anyone.
As the powerhouse of Western Europe, the United Kingdom should be your first stop if you’re interested in penetrating this continent. Their economy has been stable for a long time now, which means they feel more comfortable reaching out to other countries for goods and services.
When it comes to expanding your business over international waters, there are a lot of factors to consider. It’s important to look for companies that can sustain your business, as well as ones that you can reach through your traditional marketing efforts. As you take the monumental step to begin marketing your business at an international level, don’t be surprised if voluminous business expansion follows.