Branching out to global markets as a business leader can be a big leap for any organisation. Time needs to be taken to consider the differences between each of the markets and how each of these will be targeted. This is where the concept of developing a balanced international marketing strategy would be useful. Being able to leverage a marketing strategy suitable for multiple markets within the international sector can save plenty of time and resources as well as providing consistency across all your marketing efforts.
However, there is scepticism around global marketing and whether it’s worth using up resources to branch out to these spaces. This begs the question, “how is it possible to make global marketing work?”. Here are some tips on how your business can make an approach towards a balanced international marketing strategy.
Clarify what works globally and what works locally
Although you’re looking to make an approach towards the global market, this doesn’t mean you should disregard the concepts of your local marketing strategy. In fact, both of these strategies should be able to complement each other hand-in-hand.
The local marketing strategy will help to provide the infrastructure for the global strategy. For example, aspects such as branding, brand guidelines, marketing planning and structuring will begin the base of your approach. Then, it may be worth dividing your markets into tiers to help identify which markets are likely to provide the highest returns. You’ll then be able to judge where more of your priorities lie.
Gain an understanding of local market needs
What might be a need for a country in South America may not necessarily be the same thing for a country based in Europe. This is why it’s important to do your research around local cultures, needs and their behaviours. Although you’re trying to develop a balanced international marketing strategy, there still requires the flexibility that can help cater to cultural differences. So, in a global marketing role ensure you do the following:
- Thoroughly research the markets you’ll be going into and who will be in the international teams
- Trust them to be experts in local areas
- Make the most of the knowledge they have to make your campaigns a success
Develop your global marketing strategy as early as possible
Now that you’ve collated research on the international markets, discovered key relationships and created plans for the marketing strategy, this will be a good time to bring these ideas together in a strategy and begin gaining feedback so that you can outline any legal issues that may prevent your plans from working globally. It may be a case that an immigration solicitor would be required to look over the details if it requires it.
Taking a proactive approach will ensure that you have enough time to make amendments or revise any changes that are required as part of your plan.
Be strict in managing your campaign
To make sure that your marketing plan is to succeed with global markets, there are a few considerations that you need to have:
- Be ruthless in your planning: Ensure that deadlines are met and the responsibilities of the plan are crystal clear. This is because you need to launch your campaign that will be at a suitable time to reach out to all the relevant countries. Keep on track of everything each step of the way too so you’re aware of the stages that everything is at.
- Communication: Effective communication can help all teams make the international marketing strategy as best as possible. Keep regular contact with the teams in different countries where you can have valuable discussions about how the strategy is going and if there’s any support you can provide.
- Take consideration with time-zones: As mentioned previously, your campaign needs to target the relevant countries at the right times. Therefore, it’s important to consider the different time zones you’ll be targeting. As well as this, you’ll also need to factor in the time it’ll take for localisation, translation and any other reviews for before and after launching.
Make the most of global marketing
It does take time to construct a global marketing strategy for it to work, but bear in mind the benefits that it can generate.
The main value you can gain is that your marketing strategy will be able to be applied consistently and effectively across several markets, understanding them locally and what potential you could gain from each.