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Are you ready to take your company global?
With an established base in your market of origin, the lure of fresh opportunities overseas can be strong: to accelerate growth, increase brand recognition and lessen your reliance on a single marketplace.
But international expansion brings with it inherent risks. It can be prohibitively costly, a huge drain on head office resources, and a diversion from the core business.
So how should you approach an international growth strategy?
Qualify potential international territories as thoroughly as you would any new sales lead. Why would your product work in that location? What is the competitive landscape? What are the legal requirements you need to consider? How does your brand messaging fit culturally? What should you change, and how?
Give your company the best possible chance by bringing on board staff who can help you navigate your way through everything from recommending the best location for your company (often times not in capital city premium-priced locations) to finding the right operational partners. Getting this step right helps safeguard the head office from unnecessary distractions, and saves time and money.
Finding a translation company willing to partner with you to understand the nuances of your tone, and recommend solutions based on authentic local knowledge is key. Redouble your efforts by ensuring your newly recruited local talent gets to review and provide feedback on all copy where possible.
Think outside the box in terms of how you can gain traction and build support. As well as contributing positively to the local economy and creating jobs (on whatever scale that may be), consider how you can engage with the community in a meaningful way. That could involve anything from supporting charitable causes to opening up lines of communication to allay any concerns about your company’s arrival and build trust through transparency.
Here at ARTÉMIA, we’re proud to have helped companies successfully gain a foothold both here in the US and overseas with our mix of global and local knowledge. If global expansion is on your radar, as ever, please get in touch.
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