Expanding your business into new markets

Global business can be a highly profitable and rewarding objective, but is fraught with many challenges.

Traditionally, businesses begin trading internationally by exporting as this is the least expensive and least risky way of doing business. Some companies may appoint local agents or distributors. Large corporations with strong financial backing may setup offices or acquire local businesses.

Each stage of international business carries different risks, with the biggest obstacle being that of language and culture.

Many CEOs believe that the only way to find and support global customers is to employ staff across the world to deal with local demand; however this can be a costly mistake.

Reactive vs. Proactive Strategy

Most businesses take a reactive approach to international trade – receiving an enquiry from a business in Barcelona does not necessarily mean there must be a high demand in Spain.

Creating localised microsites will enable you to test the interest in a particular market. With this type of international market testing, you can avoid the cost of employing international staff, and use your website to market your product and/or service across the globe. By creating and promoting multilingual micro sites (based on your English website), you can attract millions of visitors that otherwise would not have found you in the search engines. From your visitor statistics, you will be able to see the number of visitors, measure enquires, and even serve international orders, depending on your business.

Proactive market testing will identify the markets with greatest demand, enabling you to make an informed decision about your strategy. Relevant services include International Brand Research.

 

Advanced localisation Strategy

After a few months your multilingual website will reveal which markets will generate your profit fastest and you’ll quickly want to build on them.  At this stage, we offer further localisation into specific local markets, we can also create an International eMarketing Strategy.

As well as helping you test new and emerging markets, you will need to keep your multilingual websites up-to-date. This is where Global Information Management is needed.

Web-Translations combines the latest technology with language skills to make your business globalisation strategy a success.
Ask us now for help with your international expansion.

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