Internationalization is an opportunity that is having more and more success among the expansion options of many entrepreneurs, especially in SMEs.
We often hear about data, research and market trends. But an interesting question is: what are the three main advantages in developing a successful internationalization strategy?
The most common reasons why SMEs turn to internationalization are usually related to one of these issues:
– Declining sales
– Saturated and stagnant domestic market
“Acquiring information” is rarely mentioned in the list of reasons why a business becomes international, but carries a great importance. In fact, companies who don’t consider this factor tend to find themselves in a very vulnerable position. We must always be aware of what competitors offer and how they offer it, in order to give added value to our own offer in any market.
There are several things you can do to give yourself a head-start in internationalization. Today, let’s take a look at the top 3 ways you can ensure you get good results:
- Using marketing campaigns targeted to acquire new customers through a call to action (for example: “For more information call / write”).
The benefit is that by doing so you can measure the results, so you know right away how much you spent on marketing and what you’ve gained (i.e. number of leads per campaign).
By doing so you can get to see which action has worked and which not, which it’s better and which is the one that perhaps has to be improved.
- Fully exploiting the web.
The internet is an essential tool in any internationalization strategy, and it is also one of the most effective, regardless of business type or sector.
So it is extremely important to create a foreign web site and to present social media with a fan page in the destination country.
This helps the foreign target audience to perceive the offer as different and more valuable. In this way, the sale itself becomes easier and price sensitivity decreases.
So it’s essential to have a unique value proposition (UVP) that differs from everyone else in the new market.3. Get your name out and make contacts!
Acquiring new customers is one of the basic processes for any company, they are like a breath of fresh air. It’s also important to create strategic alliances, that is to make covenants with potential business partners, who constantly bring new customers, generating benefits for both. But you can’t do this if no one knows who you are!
Nowadays we have effective tools to create leading campaigns such as Facebook, which allows us to reach the right audience with the small to medium-scale investments.
Thanks to targeted promotions you can attract people who are potentially interested, for example by offering samples in exchange for contact info etc.