Grow Your Business Overseas
Are you considering reaching out to a new market? Bringing your business overseas is no easy task, and as a newcomer to a new market, you are likely to face local competition.
During the pandemic, many companies have utilised digital commerce to break into international markets, profiting from the absence of digital competition. However, in a post-pandemic economy, many small companies have brought their services up to speed and invested in the digital revolution too. In other words, you can’t rely on your digital presence only. If you want to grow your business abroad, you need to find local advocates who can help you establish your brand overseas.
#1. Reach out to local suppliers and manufacturers
Sometimes, the easiest way to become a serious and recognised brand abroad is to be connected to existing companies locally. For instance, you can develop a product using local supplies and workforce. The process can be challenging, as you often need to arrange for supply purchases remotely, finding ways to transfer money safely to the supplier and local manufacturer. It can be a fantastic option to become relevant for the local economy.
#2. Build a partnership with a local business
Why should you start from scratch when you can work with a partner who knows the local audience? Partnerships, to be effective, require a shared interest and understanding of the business objectives. That’s why it’s crucial to carefully select your partner and run productive meetings together to ensure you are on the same page. A partner can help adjust your services to the needs of the local audience. Make sure your skills and offers are complementary so that each company benefits from the partnership. It can be a good idea to help your partner break onto your local market, ensuring you can both grow through the process.
#3. Find a local influencer
Social media influencers are valuable to your marketing strategy, but they are often too expensive. Micro influencers, on the other hand, are social media influencers who are recognised only in their local market. Depending on the country, many have an influence at a city or regional level. As a result, their services are more affordable. More importantly, they are also more likely to have a tight connection with their audience group. Unlike international influencers who can’t afford to engage in conversation with their millions of followers, micro influencers tend to answer questions and comments.
#4. Consider supporting overseas causes
Being noticed by the local press is no easy task. But it can help your brand name get known and remembered. If you can afford charitable activities without putting your business at risk, it can be highly effective to consider local events and causes for sponsoring.
For instance, an electronic refurbishing company could equip local schools with quality refurbished computers. If you are a small fashion retailer, you can run a local contest to offer the lucky winner a fully paid wardrobe makeover. A marketing agency can offer free workshop days to local businesses. The bottom line: Sponsoring can help promote your brand activities and break into a new market.
Your digital presence isn’t enough to get noticed by your overseas audience. You need local support to cheer and establish your brand. Therefore, you can start with a professional presence, reaching out to suppliers and potential partners to get to the market. You can also choose a marketing-friendly strategy by collaborating with micro influencers and sponsoring local causes.