How to Transition from a Local to a Global Market
The move from a local to a global market has the ability to bring your business into the eyes of even more consumers and put your product on a world stage. However, that leap isn’t necessarily so simple. Taking the time plan your moves can allow you to complete this transition more fully and get your company on the right track. Whether you go all in, or just have a gradual transition, these tips can help you make the move wisely.
Learn the Target Language
Moving into the global atmosphere will prove difficult if your company can only handle conversations in one language. Consider the market into which you are hoping to expand. Starting to learn that language yourself and hiring employees who are multilingual can allow you to start addressing the communication issues that may arise when expanding globally.
Absorb the Customs
Both personal and business customers vary from country to country. Meeting with a person and accidentally insulting them because you don’t know the customs could mean the end of the business relationship. In addition to learning how to verbally communicate with people around the world, take the time to integrate some of the customs into your business routines.
Promoting and hosting events can allow you to interact with potential business associates and customers in other countries. For example, dōTERRA hosts conventions in many different places. If your business hosts a convention, you are providing people with a common place to meet. Furthermore, your company is showing that it is organized and powerful enough to do so, which can assist in generating both rapport and trust.
Analyze the Best Marketing and Advertising Methods
Even if you are one of the top advertisers in your field here, those skills might not translate when you move into the global market. This type of move means your target audience is probably changing to at least some degree. Determine how you can take the techniques that you use now and revise or polish them to meet the demands of your new target audience.
Find the Right Space
When ready to open up a location in another country, you have to find the right space. It’s about more than just locating a building that’s the right fit for your company. You also want to know what the area is like and if any competitors are just around the corner. You also must ensure that the community is ready for your business to come and eager to buy its products.
Moving into the global market gives you a chance to see your business prodigiously grow, especially if you are patient and willing to take the right steps to do so.
Eileen O'Shanassy is a freelance writer and blogger based out of Flagstaff, AZ. She writes on a variety of topics and loves to research and write. She enjoys baking, biking, and kayaking. Check out her Twitter @eileenoshanassy.