If you start reading this article, it means that you are going global or at least think about it. Today we will talk about the importance of doing it for business. And I want to start with reasons to go global.
Reasons to go global
1. Boost sales
The presentation of your business to the new market increases your ability to make more profit in the long run. Initially, going global requires investment. But as a result, it increases long-term cash flow.
Moreover, if your home activity becomes lower, your business does not hurt much. You have other markets that make your profits more stable.
Going global also allows you to offer more products and services. You can establish multiple revenue streams because you do not rely on the sale of one core product or service. Market entry can become just the kind of life your business needs to take your profits to the new heights.
→ Here is the link to our Market Entry Strategy Company — Adloonix 🔗
2. Decrease business risks
Going global often protects the company when economic conditions get worse in any given market. However, you have to develop an effective digital strategy to overcome the challenges that your business may face. If you do this, your business can enjoy the benefits for many years.
3. Provide with access to new markets
One more reason is the access to new markets. If you have market share in several markets, you have to interact with different cultures every day. It can give you good lessons. It makes your business stronger by selling the products or services to the diverse groups of customers.
4. Give competitive advantage
Going global can be a head start over your competitors. You can enter a blue ocean, the new market without competition. Or you can beat new competitors, offering quality products, or providing personalized services. All in all, going global is one more way to get a competitive advantage and go from strength to strength.
5. Engage more customers
The rational reason to go global is a new group of customers. It is a great chance to add new customers, especially when going global involves the launch of new products and services. The solutions that offer your business can help your customers improve their lives in a certain way.
Your market entry strategy should target every group of the customers, find their pain points and needs, set effective social media ads. You have to collect only relevant and useful information about the target audience.
6. Increase the chances of foreign investments
Many business owners know that foreign investments are important for business growth. Going global allows you to receive investments, especially from foreign investors. Consequently, you will use them for the company’s faster development.
7. Give the ability to build specific future plans
When you have a solid market entry strategy, you can use the received data for setting achievable and realistic goals for business growth and development. Moreover, you can track your future business situation and build realistic plans.
As you see, if you want to develop and grow your business, you should go global. And the next point of our agenda is choosing the market entry strategy.
Which market entry strategy is better to choose to go global?
It is time to introduce to you the top digital market entry agency Adloonix. We know everything about digital marketing strategies, the latest trends, and the market in general. From our experience, we can assure you that the digital market entry strategy is the most effective approach for businesses.
This strategy is appropriate if you run or if you want to run a prosperous online business. The main advantage is that you do not need to open new offline offices.
On the initial stage, you have to conduct online market research, create a step-by-step strategy, develop a website or a mobile application (both can be even effective), and set up digital advertising. With this method, you can save investments and put them into the promotion of your brand on the new market.
I hope that I convinced you to choose the digital market entry strategy. And I continue our interaction with a step-by-step plan of going global.
A step-by-step plan of going global
1. Hire a digital market entry agency
I am sure that you feel more confident when you have a reliable partner. Going global is a responsible move for all business owners, and finding a trustworthy partner plays an essential role in this process. So the first point is choosing a professional assistant.
Let me determine who can help you with going global. Without any doubt, it is a digital market entry company. Without any doubt, it is Adloonix. Marketers create a personalized strategy for your business that includes many components and features.
Our team provides you with up-to-date information about future trends on the market. Moreover, we can help you to choose the best international market and implement your market entry strategy.
We help you to adapt your services or products to the new market. Marketers concentrate on all details of the market entry, and this complicated task gives great results for our clients.
2. Do digital market research
The next step is doing digital market research. Everyone should know that it is the first service business owners have to use before every decision.
What do you need to know about the work process of our firm? We conduct detailed market research and prepare the report with all the necessary information for going global. Our team will give you access to information about trade opportunities, market situation, price strategies of future competitors on the new market.
→ Here is the link to our Market Research service 🔗
First, we check for the productivity of your business. If we see a high rate of ROI (Return On Investment), you can start going global the business. We can advise you on other ways to boost the revenue if we predict the failure after the analysis of your current situation.
Second, our team studies the business performance of your competitors. The more you know, the more leverage you have upon them. We give you a detailed analysis of the business conditions of your competitors, info about their strong and weak sides, and future plans. You get everything you need to go toe-to-toe with your competitors.
Third, marketers study the demand for your product or service in the new market. Online demand and trends rise and fall from time to time. We can predict it. After all, you do need to determine the effectiveness of going global.
Fourth, our team distinguishes your target audience in the new market. Besides, going global will be more effective when you determine your Buyer Personas. Learning about your ideal customer, their needs and pains, goals, and dreams, helps you to set a strategy aimed at attracting the most valuable visitors, leads, and customers to your business.
3. Create a multichannel CX strategy
After conducting market research, we create a CX (customer experience) strategy. All prosperous companies are customer-oriented. They know that the key to success is knowledge about clients. And customer experience is the interaction between a client and a brand during their cooperation.
Remember, you must always meet the demands of buyers. Because satisfied customers always leave positive feedback and recommend your brand to their friends.
The digital CX strategy improvement begins with a digital marketing audit of your marketing strategy, conditions of your business, and design of your website. As a digital market entry company, we understand that going global is an important step. Consequently, our team creates the best multichannel customer experience strategy for our clients.
→ Here is the link to our Digital Strategy service 🔗
4. Do A/B testing
When you are going global, you want to make your brand more attractive and client-friendly. And it is a wise decision to run A/B testing to achieve this aim.
Marketers use CRO (Conversion Rate Optimization) to track analytics and user insights to improve the performance of any elements of your campaign. This testing determines which of two versions of a site, an advertisement, or other components of the marketing strategy performs better.
Then you can improve the marketing plan, using this data, to get more leverage upon the competitors. With testing, you can attract more clients, turn them into customers, increase conversion, and get more profit.
5. Generate traffic
Going global is a great chance to engage more clients. But if your website does not have enough traffic now, you have to change this situation. You want to be remarkable in the international market, do not you? My colleagues use Traffic Generation for this purpose. Shortly, it is attracting consumers towards your website. That helps to drive more brand awareness, quality leads, and sales.
The professionals can look for keywords in the title of a page, the URL address, the structure of ads, internal links. The advantage of this service is that marketers can also create a list of keywords that you can start to use for your content and business messages. That means that more customers will see your ads and go to your website.
→ Here is the link to our Traffic Generation service 🔗
6. Start an advertising campaign
The next step is setting digital advertisements. You are going to enter the new international market, and you have to catch the attention of potential customers. I want to describe the most popular digital channels.
The study found that more than 70% of business owners consider social media networks as the top traffic sources. They allow you to find your target audience, interact with them, share relevant content, and drive traffic to your site.
For most brands, we recommend starting with Facebook and YouTube. Those social networks have many active users. That is why they are the most powerful ad platforms. Depending on the target audience, we can also set up ads on LinkedIn, Instagram, and Twitter.
Each social media ad consists of an image or video, text, and link to your website or profile in the social network. We handcraft each of these elements in corresponding with the personality of your target audience and business on the whole.
One more powerful and cost-effective digital marketing strategy is advertising with PPC (pay-per-click). It is a useful tool that leads your website to the top of search results, even if the ranking of your business is not the best.
Email advertising is one more way to interact with customers. The main function of email marketing is attracting and keeping the target audience. Our marketers use this technique to increase brand awareness, make the business up-to-date, and encourage repeat purchases.
Video marketing gains popularity now. It is a method of using video to connect with future, current, and past clients to answer questions, introduce new products, explain how to use them. You should have an effective call-to-action or an offer to buy your product or service.
One more way to engage clients is through influencer marketing. We can help you find key leaders to take your brand message to a wider audience. They have several thousands of followers and can help spread the word about your business, new products via their social channels.
7. Track analytics
The last step is starting analytics tracking. In the modern world, a website is a facade of a firm. It is the first thing users see when they open the weblink. Thus, it is important to know the reaction and behavior of visitors. Our team gathers and analyzes all traffic information, and then we create a full report for you.
→ Here is the link to our Market Entry Strategy service 🔗
Going global is a crucial step for your business. It can be risky but I can rest you assured that it worth it. I told you earlier that going global promises high income, a new group of customers, more business opportunities.
Adloonix will help you to go global with no stress. Count on us to yield positive results. Contact us for expert guidance on going global.
Best Regards,
The marketing architect and founder of Adloonix
Vlad Sapozhnykov 🔗,
E-mail: founder@adloonix
Why are you going global? What challenges do you face during this process? Please, leave your comments below.
