Online shopping has made it too easy for people to order products from foreign companies. When it comes to marketing your business internationally, things change significantly. You cannot do it like customers do shopping with just a few clicks. You need to know the place, its rules, traditions, customs, and culture. Even each state can differ from another state in the same country drastically.
This brings the key questions into the picture that how do we do international marketing? What international marketing strategies should we use when selling products/services in different foreign markets?
Well, we admit that international marketing is not easy. But it is also not impossible. Though there are plenty of businesses that have failed abroad, there are also ones that are doing remarkably well. So, yes, if you do it the right way, you can also succeed at international marketing, and ultimately your business reach will expand to overseas.
To help you out, here, we are going to share the key principles that any business should consider while making an international marketing strategy in Dubai. These principles are perfect for international marketing in other regions as well.
- Research the consumer behavior in the foreign market
When you are selling a product or service in another country, you need to know the shopping behavior of consumers in that country. Otherwise, you might fail just because the product wasn’t right for that market or you named the product/service in a way that offends them.
It could be any of the thousand things that you could be doing wrong. Even the size of your store in that region matters a lot. For instance, if you are selling something in Europe, you should prefer opening a smaller shop as opposed to a large box store because it is what people are used to in that region.
- Alter Your Product or Service to Fit the Needs of New Audience
Changing your offering to meet the local demand can often lead to excellent results. One classic example is McDonald’s. This popular fast-food empire has now over 39,000 restaurants around the world. How did they make it possible?
To achieve success in expanding their chain of restaurants across the world, they had to alter their menu for just about every country. This certainly led to some pretty crazy entrees, which made them even more popular.
This was only possible because they made efforts in understanding the people they were planning to serve and changing their offerings to fit the local demand.
- Choose between the Premium and Economy Pricing Strategy
When you are already selling a product that is associated with the luxury in your country, you don’t want to downgrade its reputation by selling it at a cheaper price. The vice-versa is also true.
You need to remain consistent while finding a solution to sell in a different market. When you sell a product at a too low rate, you risk bringing down the brand image as people outside that country might associate your brand with cheaper products.
Thus, you must know the affordability level of people in that region or country and then, create your pricing strategy while maintaining consistency.
Other more obvious things that you can do include using translated content in the local language on packaging, user manual, and marketing material and creating messages that will resonate with the new market in terms of culture, belief, and emotions.