5 Strategies for Expanding Your Business Internationally That Go Beyond Translation

0
25
Expanding Your Business
Expanding Your Business

It would be great if only simple language translation could facilitate global expansion for your company. However, entrepreneurs should be aware that taking a product or service

global involves more than just fine-tuning user-facing content.

Translation is certainly one of the most essential aspects of going global with your business, but here are a few more tips that will help you go global and succeed.

Don’t shy away from social media

Spreading the word on social media and introducing your business to your new customers is a must. That’s why it would make sense to make your presence known on well-known platforms such as Facebook and Instagram.

However, it’s even more important to have a strong and effective presence on the world’s number-one professional network. LinkedIn is home to over 800 million users consisting of both businesses and workers ranging across many industries. 

Considering this fact, it is vital to start a LinkedIn conversation with your new target audience once you decide to expand. For starters, you should take an individualized approach and avoid sending generic circular messages. Then focus on niche groups. Join them and start participating regularly. That will help people get to know you better and without much effort.

Keep cultural differences in mind

It’s crucial to research your new target market. It doesn’t necessarily follow that what works in your local will also work in the new country you’re targeting.

Many services and products fail horribly as soon as they leave the country where they’re produced. For instance, outside of the United States, there isn’t a significant market for peanut butter and jelly sandwiches.

Also, in 2011, the Spanish sandwich chain 100 Montaditos made an attempt to enter the U.S. market but ultimately had to declare bankruptcy. Their small sandwiches were successful, but their business strategy didn’t work well in the American market.

The best course of action, in this case, may be to modify what you’re selling. Lay’s is a great illustration of product adaptation. Their marketing initiatives abroad are as extensive and varied as the flavors they offer.

Lay’s chips are offered in more than 200 flavors throughout the world thanks to consumer contests and a few courageous taste-testers.

But not all varieties are offered in every nation. In actuality, a lot of them are nation-specific and tailored to consumer preferences. Russia produces red caviar. There is Vegemite in Australia and Magic Masala in India.

Fortunately, there are experts who focus on other cultures and nations and how they relate to your own. These consultants can help you make the necessary adjustments to your product so that it sells well abroad.

Is your product ready?

Take the appropriate actions to make your offerings market-ready based on the product gap analysis to create high-impact product differentiation.

Review governmental and sector-specific rules to verify compliance and, if necessary, the acquisition of certificates. Also, ascertain whether the product has to be localized in any way. Pay particular attention to how your product’s name is rendered in the local language.

Moreover, launch a patent and trademark review because certain nations have a reputation for “copying” clever concepts. Launch testing and quality assurance evaluation in accordance with regional requirements.

Finally, think about a regional network for distribution and logistics. How will they receive your product, and to whom will they sell it?

Stay compliant

Strong legal procedures must be implemented in order to reduce excessive commercial risks because some nations are notorious for having a high litigation rate.

Additionally, government organizations have tight guidelines that demand legal papers be in place before operations can begin. Although being proactive costs money up front, the risks and responsibilities that come later more than compensate for this.

  • Make regional business agreements.
  • To ensure compliance and obtain certifications as necessary, review regulations that are relevant to the industry.
  • Provide general corporate services such as shipping, immigration, customs, and dispute settlement.
  • Maintain corporate governance and records. This is a task that may be well-suited for outsourcing.

See things from their perspective

If you choose to expand abroad, you’ll probably need to meet many foreign people and establish contacts there.

As a business owner, you don’t want to be the person that constantly interrupts the discussion to ask them to repeat things you missed. You’re playing in the big league if you want to expand your company internationally, so you must be at the top of your game.

The solution is straightforward. You should hire an interpreter. Some interpreters use consecutive methods, while others use simultaneous, liaison, or whispering methods. Depending on your needs, you can select the right option for you.

Final words

The process of expanding your company overseas is not for those who are easily discouraged. However, it is likely that the majority of companies will eventually have to do so because global markets offer more opportunities for expansion. Therefore, if you want substantial growth and recognition, there’s no other way.