Editor’s note: Mark Dohnalek is President & CEO of Pivot International, the Kansas-based global product development, engineering & manufacturing firm.
You've done it! The entire product development cycle from idea to design to prototype to product is complete. You have a distributor, sales are strong and customer feedback has been positive. It's now time to expand beyond the US and start selling across the globe. But conducting overseas transactions is different and selling around the world can be a much more challenging prospect than working within one's own borders. In Asia, for example, we have multiple manufacturing facilities throughout the continent, each in regions with their own restrictions, customs, languages and policies. With that experience in mind, here are a few “must-knows” to successfully market your product overseas.
Know each country's market
While this might seem obvious, it is often overlooked when considering overseas sales. Because a product that has found real purpose in the US may not be as vital in other parts of the world. Using research on demographics, a country's level of economic growth (or recession), the average consumer's income and the available methods for marketing is the best way to proceed. Also, extend your research to find out about the sales of similar products in these markets. What do you know about campaigns that have worked in the past within your chosen demographic? Get the answers to these questions to create the foundations of your international marketing strategy.
Know all translations
Be sure to find out the meaning of your product name (both formal usage and possible slang terms) as well as your planned messaging in all of the languages you will need for overseas marketing. If the name of your product has an inappropriate meaning in other languages – all of your hard work will become a waste. From the product name to the advertising copy to all other messaging – it is essential that all communications be considered through the prism of the other country's language and cultural interpretations.
Know the most-used digital marketing platforms
To build awareness and generate optimal sales globally, you will need to know all available channels. More importantly, identify the popular ones used that are being used by your potential customers. It doesn't make sense to spend time or money on a Facebook campaign, for example, if the country you're working in doesn't have a strong base of people that fall into your customer demographic using that platform. Knowing how people get their information is a big piece of the puzzle, because that's where you want your product to get the most attention.
Know your strength is in your agility
Flexibility, speed, creativity all must be embraced if your initial marketing plan needs to change course. Being agile will be an essential trait for your leaders to be willing to shift direction quickly and effectively. If digital marketing doesn't fit the country or countries where you're marketing your product, make sure you're ready to go to the ground with surveys or focus groups. Even with lots of research, be ready to know what you don't know on marketing globally. A positive attitude and ability to adjust your strategy could make all the difference in your success.
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