Reducing Marketing Risk While Growing Globally

Marketing your product or service in your own country is challenging enough. But if you are planning on going global, you will need a marketing strategy for every region where you decide to launch.

Some marketing techniques are transferrable from one country to another. Others will need to be adapted to take regional nuances into account. That’s why having a transformational marketing specialist or consultant for every country in which you operate is a best practice.

Local Considerations

Putting a global marketing plan in place and expecting it to work in multiple regions is insufficient. Yes, there are some basics you can apply across your global marketing plan, but there are local considerations that also come into play. To understand this better, we can use the entertainment industry as an example. Entertainment and gaming companies often operate on a global scale but have many local issues which which to contend. And there are many ways in which they have to adapt their messaging strategy and positioning in each market.

Having a multilingual website is a no brainer, and cross-border operators, such as casino game distributor Netent Games, employ dedicated teams to create native content for each zone. This is vital as some bonuses and online gaming operators may not be available in every region.

Therefore, the content offered may vary from region to region and needs to be tailor-made. The gaming industry is one that also has to keep up with the latest trends, a topic we covered recently. You need to be aware of trends at a global and local level. Other companies such as Netflix also adapt their content to suit each region, as seen here: at Comparitech. This is because TV and film viewing tastes can be very different from one company to the next.

Flexibility

Companies selling physical goods are not the only ones affected by this market customization challenge.  Any kind of service or product needs country-specific marketing. This means having the right infrastructure in place to deal with variable aspects such as logistics and manufacturing as well as consumer behavior differences. Everything must be tailored to each country you operate in, not just copied and pasted from the country of origin.

To really succeed in global marketing, your business model needs to be as flexible as possible. This means you can react in real-time to what works in each market. In some cases, a franchise model offers a better solution. Many people are not aware that global brands such as McDonald’s have fine-tuned their franchise model to adapt to markets around the world. And most people don’t realize that their menu and product mix varies by market – appealing to the local tastes of their customers.

Manufacturing & Supply Chain

It is adapted to each region resulting in products including the Oreo Affogato in South Korea, the Shaka Chiki in Japan, and the Maharaja Burger in India. If you thought the Cadbury Creme Egg McFlurry was available across the globe, think again. Outside of the UK, the popular dessert offering has only made brief appearances in Canada and Australia. Drinks giant Coca-Cola varies the ingredients of its products to suit local tastes. This helps them to optimize sales and keep ahead of their rivals.

If you are making a product, you need to think about production, storage, transport, and distribution. Is it easy to export? Would it be better to build another factory? Does the product need to be adapted for different regions? How will you distribute your product?

Conclusion

If you have a successful business model in one country, you may be tempted to assume you can just replicate it across the globe. But there are many complications and variable factors that must be considered. So, global expansion needs to be given the same amount of focus and attention to detail that you applied to your original idea to make it grow successfully. Expanding your business to other countries takes time and effort, but it will bring you many benefits. You will be able to make the most of the market potential in any location, attract new customers, expand your brand, and make more money.

If you’re looking for more tips on transforming your marketing and reducing risk as you grow globally, subscribe to the TopRight blog! Or connect with me on Twitter and on LinkedIn. You can learn more about how to bring simplicity, clarity, and alignment to your brand’s story, strategy, and systems in our best selling book: Marketing, Interrupted.

Image Credits: : Pixabay and Unsplash