3 Things to Consider When Expanding Your Business Internationally
Learn How Translations Can Help You Tap On A Wider Marketplace
If you are considering expanding your business to the international market, you must be doing quite well on the domestic front. Congratulations! But, are you sure you’re ready for the next step?
When it comes to expanding into an international market, there are often several new factors that need to be considered to ensure that your brand is truly ready to make a splash on a new continent.
The following three tips will help you focus your mission so that your brand is culturally relevant and ready to make a difference.
#1: Your Target Market
In your home country, your target market is cornered. You know your demographic’s needs, their habits, their interests and their weaknesses. You know exactly how to advertise to these specific things to show them how your product or service will genuinely improve their lives. However, your marketing campaign is going to have to change in a new country.
Even if you are targeting the same age group and income levels, the values, culture and mindsets of this target demographic are different from those of your home nation.
Getting into the heads of the locals is the first step to determining if your product or service is going to provide value to their needs. The only way to know a person‘s needs is to know their culture.
Hiring a small team of native researchers and advisers is crucial to making sure you understand the needs of your new public.
#2: The Language Barrier
Secondly, entering a new culture means that you need to not only cross the cultural barrier, but you need to cross the language barrier.
If you are entering into a market where the main language is not your own, you need to consider investing in a translation service— particularly for dealing with other corporations and the government for striking deals.
By having certified transcript translations for your contracts and meetings, you put yourself in the position of power when it comes to negotiating contracts. Employ services of a diverse and versatile translations services provider that can cover these translations in a bunch of languages.
There are translation services providers out there that are offering translations of different kinds in over 90+ languages Engaging the services of these versatile translators can ensure that you and your partners receive the best-certified translations on the market.
To make sure your translation partner can help you with a complete holistic approach when translating your business documents, make sure they are outgoing enough to also help you understand the reach of that particular language.
For this, a quick consultation should help wherein you can ask your translation provider about certain questions and gain insights from their understanding as to what is the reach of the language(s) they deal in, the possibilities that open up for your brand in a Spanish-speaking market or in a German-speaking market.
Though independent research is required, it is essential you make sure you define (with some help from a proficient translation services provider as to which languages should your business be translated to and why.
This can be one of the utmost features you help you define whether to go for this translation services provider or not.
#3: Your Business Plan
Since your target market is inevitably changing in this new frontier, your business plan is going to need to adapt to the needs of the target market. While your business plan may be foolproof in your home country, because of the diverse nature of the people you are serving now, your business plan needs to adapt to the culture and the values of the country which you are entering.
The greatest example of failure to implement this technique is found in Walmart’s attempt to integrate into the German market.
In America, Walmart has a foolproof system that brings in millions of customers on the daily. However, this same system destroyed Walmart’s reputation in Germany.
Walmart assumed that Germans had the same values as Americans when it comes to consumerism.
Details even as small as the Walmart greeters turned the German people away from this giant corporation. The German people viewed the greeters as insincere.
This was unsettling to the people and ultimately turned them away. This is the exact opposite of Walmart’s intention! Yet, due to poor research, Walmart paid dearly.
Therefore, it is crucial to adjust your business plan according to the culture and values of the people you are seeking to serve.
Overall, expanding your business internationally requires a great deal of thought and planning for entering into a new culture. Not only do you need to consider using the services of The Spanish Group for the logistics of crossing language barrier, but you also need to remember that your target market is engaged in a completely different culture than your own. You need to tailor your plan of approach towards averaging these truths to your advantage.