February 21, 2018, by EnergyNow Staff
Expanding your business in the U.S. can be an exciting endeavour. When you enter a new market, it is essential to build an international marketing strategy. You should retain your company’s values and purpose, but it is crucial to focus on your prospective clients and target regimes so that you make thoughtful business decisions.
First, test your market. Dip your toe in the water before you dive in. Just because you have a successful business operation at home, does not mean customers in the U.S. will buy into your product or service. If you enter markets slowly, you can be flexible and iterate the business model until you find the perfect fit for your target audience. In this way, you can mitigate potential risks, adjust or quickly exit the market without too much loss in time or finance.
Next, you need to understand your customers. Their culture and behaviour are different from those in Canada. This means their buying behaviour will be different too. Try to take a trip to your target markets or do the market research before opening your U.S. or international subsidiary. The more you can learn about your customers, their ways of thinking, techniques, partnerships, regulations and environmental requirements, the better chances you have to succeed.
Finally, you need to speak your clients’ language. In addition to communication with them in their mother tongue, your messaging should change too to appeal to the local culture. It is easy to miscommunicate if humour, metaphor, idiomatic expressions and translation are misinterpreted. Keep your advertising consistent and locally focused.
Although there is more than one international marketing strategy to establish a business abroad successfully, the primary focus should always be on one thing: the customers. Promoting your products or services in different markets require knowledge of local perspectives and customs.