Finding ways to make your business more profitable year on year can be tough.
Of course, you can find new customers by using digital marketing techniques like a new website, a custom app, an SEO campaign or aggressive pay-per-click, but if you’re looking for long-term, sustainable growth, then entering a new territory could be the right solution.
Below, we’ve put together some of the best ways to adapt your marketing strategy to expand into a new overseas market, exposing your products and services to millions of new customers.
The internet has opened up a whole host of possibilities for new and established businesses, but perhaps one of the biggest is data.
Thanks to marketing tools such as Ahrefs, SEMRush and Buzzsumo, you can analyse market data to determine how popular your new product will be.
By looking through internet search data (for example, you could find that 1,000 people in Denmark search for British craft beer per month), you can decide which markets will be most lucrative to target.
You can also use social media monitoring tools to determine interest in products, use Google AdWords to see how competitive pay-per-click advertising would be in a new territory, and put out the feelers by launching social media accounts in new markets to analyse market demand.
The more strategic you are with your pre-launch market analysis, the more success you’ll have.
Even if you use multi-channel marketing for your UK operations, you should still consider adopting a digital-first strategy when promoting your products and services in new territories.
Not only is it cheaper than investing in bricks and mortar stores and paying for advertising in newspapers, but it’s scalable and can be pulled back if demand is lower than expected.
And if you’re planning on launching in multiple new locations as part of an expansion plan, having the opportunity to pull out of a market at the drop of a hat could make your decision easier.
Ecommerce has transformed the way businesses grow and expand into new markets – you can launch a localised ecommerce store in just a couple of days with low running costs, or expand your existing ecommerce store to appeal to a new market.
With some social media promotion and SEO, you’ll be able to crack a new territory in a matter of months.
If you want to enter a saturated market and know of a competitor that’s performing well in that territory, then consider using them as a model for your own campaign.
You can use SEO, social media, PPC and brand monitoring tools to work out their digital marketing strategy and apply the most successful parts of their campaign to yours. It’s a sure-fire way to success.
Having a model to look to can save a fortune when working on SEO and PPC campaigns, as there’ll be less of a need for extensive industry research.
However, you should still take the time to weigh up the pros and cons of their strategy.
Just because a competitor is finding success with one platform, it doesn’t mean another technique wouldn’t be effective for your business.
Entering a new territory usually means employing a local consultant who knows the market inside out, but with new localisation tools that convert your existing website into different languages and currencies, that doesn’t have to be the case.
You can use free translation tools to translate your marketing copy into different languages and pay a freelancer to tidy it up.
It’s also important to mention that English remains one of the world’s most commonly spoken languages, and as a result, you might be able to enter a new territory without spending money on translating your content to suit an international audience.
According to the English Proficiency Index, for example, countries like the Netherlands, Sweden, Denmark and Norway have high English proficiency, with many international brands operating in English exclusively.
Following the same pattern will not only will this make your marketing activity much easier, but it will enable you to deliver excellent customer service without the need to employ a local advisor.
You should also consider the most appropriate platforms when appealing to a new audience.
If you want to market your business in China, for example, networks like Weibo and WeChat will deliver a better return on investment than Facebook, which is banned in the country.
Once you’ve nailed down the basics and you’ve got an ecommerce store that’s ready for new customers, it’s time to start engaging with your target market.
Social media is the most likely avenue for exposing your brand to a new audience, so start by creating relevant, engaging content that you know your audience will want to interact with.
In this instance, it’s often worth hiring a local social media company to carry out the content creation for maximum impact.
What’s more, you can find opportunities to engage with potential customers through search engine optimisation, pay per click and custom mobile apps; do your research, learn what works well in your niche, and do your best to create engaging, impactful content that delivers results.
If you want to enter a new territory and take your business to the next level, consider Zudu. We’re helping businesses tap into the Chinese market and reach billions of potential customers using digital channels like Weibo and WeChat. Get in touch with an international marketing expert today on 01382 690080 to find out more.
