10 things you should know before going global

Global marketing strategies are crucial for companies that aim to expand their reach and tap into new markets. However, this requires an investment in money, resources, and manpower to understand the nuances of different markets, cultures, and customs. Without a thorough understanding of these factors, a company's global marketing efforts may fall short of their desired outcomes. 

1. Recognize that consumer tastes, preferences, and interests vary by country, climate, GDP, and tradition. Companies must understand that what works in one market may not work in another. For example, in some cultures, spicy food may be popular while in others it may not be. Companies can take advantage of this by developing products that suit the local taste and preferences, such as using local flavors.

2. Understand cultural differences and conduct research on branding across different countries. Before launching a product or service in a new market, it is important for companies to conduct research on cultural differences and how it may impact their branding. For example, a brand name or logo that is well-received in one country may have a different meaning or connotation in another.

3. Partner with local companies that understand the market to increase success. In many countries, it is not just mass media campaigns and marketing spending that drive success. A good understanding of the local market is crucial for success. One way to achieve this is by forming joint venture global marketing partnerships or marketing tie-ups with a local partner in the same business.

4. Utilize advances in technology, logistics, and economies of scale for production, marketing, and logistics. With the advancement of technology, better logistics and economies of scale, it is now possible for companies to design a product in one location, manufacture it in another, and export it to other countries. This allows companies to take advantage of lower costs and the strengths of different regions.

5. Plan a global campaign with a global marketing agency, setting key metrics and goals. Once a product is launched, companies should plan and execute a global campaign. This should be done in partnership with an agency or team, who can handle the creative, media planning, and mass publicity campaigns. It is important to set key metrics and goals such as CTR, impressions per 1000 pages for web-based advertising, return on investment for global ads, and social media campaign targets.

6. Utilize the power of social media to reach a wide audience. Social media is a powerful tool for reaching a global audience. Companies should consider the appropriate medium for their campaigns, whether it's pictures, videos, or text. They should also be aware of cultural differences and what works best for their target audience.

7. Use events and promotions, such as sports and entertainment, to actively involve local consumers. Events and promotions, such as sports and entertainment, are a great way to promote brands and get local consumers involved. Companies can sponsor events or hold their own promotions to increase brand awareness and generate buzz.

8. Consider pricing and packaging, as prices can be sensitive in emerging markets. Prices can be very sensitive in emerging markets, so companies should be mindful of this when entering these markets. It's important to understand the best size for the price and to be competitive in these markets.

9. Leverage local strengths, such as digital marketplaces in countries without large commercial centers. In many countries, large malls or commercial centers have yet to emerge but there is a strong network of digital marketplaces. Companies should take advantage of these digital marketplaces to reach their target audience and increase sales.

10. Continuously monitor and adjust strategies based on market changes and consumer feedback to ensure long-term success. It's important for companies to continuously monitor and adjust their strategies based on market changes and consumer feedback to ensure long-term success. This may involve revising product offerings, adjusting pricing and packaging, and making changes to marketing campaigns.

The world’s largest brands trust Mamenta to sell on 600+ marketplaces worldwide. Let's talk, contact us to learn how we can help your reach untapped markets and start selling around the globe.

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