Expanding your B2B company into global markets will help you reach a larger audience, convert leads, and increase revenue.
You’ll also need to research your target market, learn about local business culture and customs, partner with a local marketing partner, and hire local talent.
Here are our top tips when expanding your B2B company into global markets.
One of the most important things you can do to expand your business globally is to understand the culture.
When you begin to research and plan, it will help with everything from translating your website into other languages, to understanding how humor might be interpreted in different cultures.
It will also help you find a local partner who can help you navigate cultural differences when necessary.
You’ve heard it said before: “Content is king.” A lot of people will never even consider your product because they can’t read your website in their native language.
So, if you don’t have a multilingual website, you’re missing out on a huge amount of potential customers who would otherwise be interested in your products.
Not only that—it’s also important to be aware of the globalization trend happening right now. Companies with global audiences are able to reach more clients than ever before.
However, many companies aren’t prepared for this shift and risk being left behind as competitors take advantage of international markets by providing better services and products that are more appealing to foreign buyers (and those who speak other languages).
The good news is that there are plenty of tools available for making sure your site is ready for international markets!
We’ve put together a step-by-step guide below so that you’ll know exactly how best to create or update an existing site so it can work seamlessly across all platforms without breaking anything along the way
You’ve heard it before, but it’s true: The key to success in business is knowing your target market.
In fact, knowing your target market is one of the best ways to guarantee a successful launch into global markets.
When you begin researching your target market—the people who are most likely to buy what you’re selling—you’ll want to consider several different factors.
For example, you’ll want to know if they have the purchasing power necessary for your product or service (i.e., are these buyers able and willing?)
You’ll also need insight into their needs and buying habits so that you can see if there’s an opportunity for your company within this population.
The better educated about these things you become as a result of research, the more likely it is that when launch day arrives everything will go smoothly and profitably!
If you want to be successful, it is vital that you understand the needs and expectations of your new customers.
If you want to be truly successful, consider learning about local business culture and customs before opening a branch in that market.
Don’t think that just because people speak English or another language fluently means they’re going to have the same values as Americans or Europeans.
Here are some ways to learn about the local culture:
- Read books about the country and its history
- Watch documentaries on YouTube about popular traditions and holidays in different cultures (especially around Christmas)
- Subscribe to local newspapers & magazines (for example, Time Magazine has excellent coverage of world news)
- Find out if there is an American Chamber of Commerce where your target country is located – they usually have great resources available for free!
Partner With a Local Marketing Partner
When you first get your product or service to market, it’s tempting to do everything yourself.
After all, you know the ins and outs of your company better than anyone else!
But there are many benefits to partnering with a local marketing partner, especially when expanding into global markets.
- They will have valuable insights into your target audience and culture that you wouldn’t have access to internally. This helps you understand how best to reach them.
- They’ll be able to help develop content that speaks directly to your audience’s needs and preferences—and which resonates where they live—rather than simply translating text from English into another language.
- A local marketing partner can also help identify key influencers in the region who might be willing supporters of your business and want their followers/readers/listeners on board too (or at least spread awareness).
Hiring local talent is essential for companies that want to expand into global markets.
It’s not just about hiring a few people to help you navigate the rules and regulations of a new country—it’s about finding individuals who are passionate about your products or services, who can speak directly with your customers and make them feel comfortable.
Your first step should be to find out which countries you want to enter and then research their labor markets.
After that, talk with recruiters in those countries (or use LinkedIn) to find candidates who have experience working in your industry sector or with similar companies as yours.
Then send them an email explaining what you do and why they should consider joining your team. Don’t forget: You’ll need someone who can manage these employees remotely when they’re overseas!
Spend time physically in the region you are trying to target.
It might sound obvious, but the more time you spend in a foreign country, the better your ability to understand it.
You need to understand their culture, language and business environment.
You also need to understand their marketing environment, local competitors, and economy.
Finally, you need to know about any regulations that could affect how your brand operates in that market
You need to do your homework when expanding into international markets, but the rewards can be great.
To expand your B2B company into global markets, you need to do your homework.
To understand the culture in which you’re hoping to sell your product or service, it’s essential that you study what makes that country unique.
You’ll want to take some time and learn about their customs, popular pastimes and mannerisms before attempting any sort of marketing campaign.
This includes things like how they use social media networks (Facebook versus WeChat versus WhatsApp), how they shop online (mobile or desktop), if they prefer physical stores or ecommerce platforms like Amazon Prime Now or Alibaba Taobao.
If you follow these steps carefully, you will be well on your way to expanding your B2B business into foreign markets.
There’s no need to worry about the process being too complicated or risky—as long as you put in some research ahead of time and consider the opinions of local professionals, you should be able to navigate any challenges with ease.
By taking this approach, not only can you take advantage of new opportunities abroad but also tap into fresh sources of revenue from international clients who have been waiting for just what your company has to offer! Work with an agency that understands global B2B business marketing.