5 Tips to Expand Your Global Market Reach

Are you doing quite well in your local market and you think you’re ready for world takeover? Want to broaden your customer base? There’s one great solution: go global. The international market offers plenty of opportunities for success – be open to them. 

Even though expanding to new markets can seem stressful and time-consuming, it has many benefits, such as increasing revenue potential, improving your company’s reputation, and creating a trustworthy brand. It will also help you diversify, gain access to new talents, and have an advantage over your competitors. 

The past decades and the internet have removed the borders that existed before – which means that today you have more possibility than ever to expand. However, the success depends mostly on you – and how you will approach this challenge. That’s why we have prepared a few tips to help you make the expansion journey easier and faster. 

Research the Target Market

It may seem easy to make your product or service available internationally, but going into a new market can be challenging. And having a well-defined target market is key for expansion. Do your research and prepare: choose a few markets you want to push into and focus on them. Don’t make assumptions – every country’s market is unique, and many marketing techniques are not universal. 

One of the best ways to explore the market is by visiting it. Don’t rely entirely on the digital world and what it’s telling you, but see for yourself. Go on a business trip, and try to understand the market, plan for it, and make connections. If you don’t know the language – get help from a professional translation company, like Architekst, who will help you understand every detail, especially when it comes to laws and regulations. Those are crucial to understand, even if you stay completely remote.

Tailor Your Strategy

Try to understand your target customer: 

• What do they want? 
• What are the trends in their country? 
• How can you give it to them? 

Think about the supply and retail routes. Take into consideration everything that impacts the market: culture, politics, economics, government involvement. You must understand the market fully before deciding to expand into it. 

Tailor your strategy to every particular region, its customs, and traditions. Customize your marketing strategy according to the area’s needs and desires. One of the greatest examples of tailoring their strategy is McDonald’s – not only do they customize their menu according to the country’s cuisine and food tradition, but they also adjust their advertising campaigns to the country’s culture and trends. Look at successful international business examples and learn from them.

Find a Partner

You can’t always do everything by yourself. Especially if you have a large business and want to start an office in the target country. Find a partner who will help you adapt to the market at the initial stage of the process, so you and your employees won’t be alone. It will also help you find acknowledgment and recognition on the market, which is a key factor for a successful business. Maybe it’s someone who already has access to your clients? 

However, don’t look for too many business partners. Pick one or two, and work on your relationship. And make sure that you can trust them – choose carefully.

Plan Ahead

Don’t start working immediately; plan first. Building business in new markets takes some time, patience, and persistence. Plan appropriately for a market and for a long period of time, remembering that your business will need time to grow in a new country. Answer all the critical questions about expending: why are you doing this, what are your goals, what emergencies can happen, and what you can do to prevent them. 

Don’t forget about measurement points: how will you measure your business’ progress? How will you know that everything is going according to plan? Without planning, there will be no success.

Maintain Your Brand

Whatever happens, remember: you are who you are, and you started your business the way it is. Stay true to it. You can’t always adjust to the changes by rapidly changing everything you own. You want to be recognizable. You want to have one international business, not a few little local ones. Your brand may alter slightly depending on the market’s customs and needs, but it has to stay consistent.

Good Luck!

Expanding your global market reach can be challenging, but it certainly is exciting. New countries, new possibilities, new customers. Don’t hesitate, go to new markets before someone else does. And remember what Walt Disney said: “The way to get started is to quit talking and begin doing.” Begin now. 

(Beata Hardzei)