It is a mistake to assume that the only consumers interested in your business are people who live in your local area. You need to think globally!
Sometimes it is easy to get stuck in a small bubble that restricts our thinking. It’s easy to see a target audience as the people you often interact with. We will let you in on a little secret:
It’s a big world out there, and your business might be just as relevant in India or China as it is in the UK.
It’s time to think bigger, broader and better by thinking globally, not just locally. Now we aren’t saying that local marketing should be ignored, but the benefits you could see from expanding your horizons will shock you.
Entrepreneur writes that “The overriding reason to go global, of course, it to improve your potential for expansion and growth”. Now who doesn’t want that? So let’s get started…
So the world is a big place, how do you target everyone?
Take it easy, you don’t have to target the whole globe overnight. There are ways to make small changes to broaden your audience a little at a time. Before you get started, ask yourself a few questions:
How does my product fit into another culture? How might it be non-applicable?
Have a think about whether or not your product might not be desirable in foreign countries. For example, if you sell beef jerky – odds are you shouldn’t consider India a prime marketplace.
How foreign will my product be to my global audience?
If you sell charcoal masks or vanity dog tags, your new target country might not understand the purpose of your product. Try to choose locations where your product will be understood without much work.
How much infrastructure does my target country have?
If you are thinking of targeting a country with unreliable internet access, you might want to choose again. It’s better to start with countries that resemble yours and then slowly branch out.
Odds are that you, your products and your website are all English – so let’s start there. Online shopping is everywhere, especially in the United States and Canada. These are two locations that you could work to include in your target audience with very small changes to your current marketing strategies. Later if you want to start looking at non-English speaking companies, you can look into translators and re-apply these steps.
In the event that your product doesn’t transfer well to global audiences, you need to know when to call it quits. Set some small goals for your new endeavors, and if at a certain date you don’t make your benchmarks, then you can give it up and refocus your efforts. Decide what your limits are and write them in a document. Attach the document to a date on your calendar and check it when the time comes.
Check Shipping Costs
It doesn’t matter how many sales you get if you are spending all of your profits on shipping and handling. It may be worth it to adjust prices to reflect possible expenses so it doesn’t appear that you are charging $25 for shipping – that might shout irresponsible to your customers.
Become Familiar with Currencies
There is a big difference between pounds, American dollars and Canadian dollars. It is important that you know exactly how much. Get familiar with exchange rates and be sure that your pricing reflects these changes. See the live rates at xe.com.
Know Labeling Recommendations
Different countries have different regulations pertaining to packaging and labeling. Be sure you know what they are before you send. Each country will have a website to cover this information. To see the list for the US click here.
Re-Target Social Campaigns
Dip your toe in by changing the audience in your social media ads and wait for a response. Make sure that you add z’s and take away u’s in the proper places to avoid looking like an outsider when working with American English. You can see a comprehensive list here.
Remember, you shouldn’t be looking at what your competitors are doing. You need to consider what shifts your consumers are making. Business models need to be innovative, agile and extremely flexible. If you don’t believe us then watch what futurist Jim Carroll has to say about the way the world will change, and how we need to escape the routine and small world thinking. So think big before someone else does. Don’t be the people who go to work planning to kill ideas.
Whether you are taking a small step out of your comfort zone or a leap, VKN Digital can help you along the way. Get in contact with us today to create a marketing strategy that will help your business blossom.
Kelly Kirkham is a staff writer at VKN Digital, UK who specialise in increasing conversions, sales and the bottom line www.viviennekneale.com.
Tags: global market, international business, marketing