10 Things to do when going global
When it comes to sales in foreign marketplaces key factors, like Trade shows, come into play due to the fact that they are the most direct marketing tool to understand customers’ needs. They are the leading tool to gaining information around product placement, features, and observe competitors in real time.
Going Global requires the highest possible professionalism, as product and marketing are quick to be judged; therefore, the company must clearly showcase what it is capable of. Continuous growth and the will to continue learning all play a role in achieving global expansion, while also branding the business as innovative and hard-working. If done correctly, results will be game-changing, and build a strong foundation that will reap longevity for the business.
Ten Things necessary to build a successful foundation for a Global outreach:
- Expanded Thinking – The American corndog is unique to the US, but the stick it is on, is not. This same wooden stick is used in ice cream in Europe; same size, shape, and form but different usage. Not all people may enjoy corndogs or ice cream; however, this small wooden stick is implemented in so many products that it is not connected to any certain part of the world, yet it’s uses can be connected to cultural icons.
- Knowing the product inside and out.
- Knowing the competition in local markets: sales figures and channels, the names of executives and key management, technical support staff, warehousing, and the warranty and customer service procedures. It is important to know the competition as well as, if not better than your own products.
- Recognizing up sell and cross sell opportunities in local markets.
- Ensuring relevance to customers in local markets (understanding the target market).
- Reviewing the product from the customers point of view.
- Identifying/Utilizing all sales tools.
- Showcasing what makes the company unique and successful, and what is the value preposition of the product.
- All employees must maintain the same mindset and understanding of the goals, so no time is wasted, and these goals are constantly being strived for.
- The ability and willingness to sacrifice family time, holidays, or otherwise for extensive travel abroad or being on standby 24/7 for the next 5-10 years. This is the hardest part-staying determined and not giving up.
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Copyright by Andrea Kastner, December 2019