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When To Expand
There may come a time for your business where you’ve dominated the UK market, and you’re considering expansion into new territories/regions around the world. Once you feel you have conquered one country, there’s no reason to stop growing and continue to build upon your existing business success. The beauty of the internet is that it allows you to put your products and services in front of people anywhere on earth by simply sitting in front of a computer screen. It is, however, vitally important to know where those markets are before you begin, so that you can be sure that you’re setting yourself up for additional success rather than failure.
THERE ARE 742 MILLION PEOPLE
AND 26 MILLION BUSINESSES
IN EUROPE
For your consideration
If after answering these questions it still seems like internationalisation is a viable option, then you can move forward in to the market research phase of your business expansion. At Red Cow Media, we offer a global market research solution for businesses looking to expand in to new territories online.
- Where are you currently generating visitors from? Are there any countries where you naturally seem to have picked up some traction without any form of targeted marketing
- What are the potential countries where your product/service may be popular? Not all countries will be suitable, for example language could be a barrier, delivery could be too expensive/take too long or you may need a physical store in order to do any digital marketing (as is the case with Baidu in China).
- Are you offering something different/unique/cheaper than is already currently available in that country? For some products and services people can tend to prefer not to buy from another country, which is only natural given the hassle involved in returns, time differences and delivery times, therefore it is essential to know you have a product/service that can sell.
Global Market Research
Our Global Market Research service includes the following:
- Analysis of current website visitors/sales. We will take a look at trends including countries with high conversion rates, countries with high traffic amounts, those that result in the most repeat purchases and much more. This stage gives us an insight in to where your business is currently at internationally.
- Creation of a list of viable countries/languages/currencies based on the product/service on offer. As mentioned earlier, not all countries may be suitable, or there could be information to indicate that some may be more profitable than others.
- Competitor research in individual countries to find out who the biggest players are from an online perspective. Which products/services are they offering, what is the price point, which forms of online marketing are they currently doing and how much would it cost to compete.
- Search volumes and traffic projections based on the available market. In many cases, particularly in non-English speaking countries, people will search both in English and in their native language, giving two possibilities when it comes to appearing on Google and generating traffic via SEO.
- Conclusion detailing priorities at three different levels, and recommendations as to how to approach them.
If you would like further information on how to go about implementing internationalisation on your website and find out more about your marketing options please visit our International Search Marketing page, or contact us for more details.
To get a global market research report put together by us, please make an enquiry below or give us a call on 0161 711 0888.
326 MILLION PEOPLE AND
28 MILLION SMALL BUSINESSES IN THE USA
