It is not easy for a company to expand internationally and achieve success at the same time. So, what is it about Apple, Google, Amazon and global companies that make them the successful global businesses that they are today?
How have these companies mastered their global marketing strategies and expanded beyond their initial customer bases? There are several traits that distinguish companies with accelerated global growth from smaller local companies.
Value Opportunity to Expand
The fear of the unknown deters a lot of companies from taking the opportunity to grow internationally. These companies might prefer keeping their customer base small and believe it is better to focus on other major issues. High-growth companies view global markets around the world as unexploited markets full of potential. These companies believe in the value of opportunity to expand.
Favor niche audiences at scale
Platforms like sales navigator has made it easy for companies to find and reach global audiences. Sending emails, private messages or paid digital adverts can be published around the world without a large investment. Less money is involved when expanding internationally by using simple funneling strategies. For example, Harry’s, which sells personal grooming products and shaving tools through both digital and retail stores, uses email marketing to grow their customer bases. Harry’s has a model that is easily replicable for e-commerce companies of all sizes. Among their 5-prong marketing approach, their most interesting strategy was their very first email marketing campaign. All 12 of their employees sent emails to everyone they knew in their very own personal and professional networks. In only a week, they grew their customer list to 100,000 subscribers using this incredibly simple direct marketing tactic.
First, they focused on their most immediate network. These leads were practically guaranteed to have a high ROI because they personally knew the employees who reached out to them. From there, they were able to continue forwarding the message to other people in their own network.
Next, they set up a dedicated landing page through a traceable referral link. Then, they made their landing page simple, yet mysterious — offering only a space to input your email and a message about what Harry’s does. Finally, the cherry on top was their incredible giveaway offer, Anyone who shares the landing page on social media receives free products.
Customers Come First
The strongest international businesses are the ones that can create a unique approach towards customers. Customers love companies that make them feel like they come first when they are having an issue with a certain product or service they bought. Also, global businesses have an advantage over businesses that are not global because customers from around the world will be familiar with their product.
Keeping track of the company’s success and efforts are crucial during times of expansion. The quicker you get a hold of things that are going on, the smaller the fix. It is important to analyze different strategies and records occurring in the firm. This helps companies get rid of strategies that are causing failure. When current systems are running and failure occurs, this might mean that it is time to use the employees' sense of creativity and innovation to build something new.
Want to build a predictable global business