If you’ve determined that your current market is getting too saturated or too small for your needs, international expansion may sound like a logical next step. It is also a big step into the unknown, which is why you should learn what to focus on before scaling internationally.
When your global scaling plan goes wrong, there are usually ways to overcome whatever difficulties you’re facing, but legal obstacles are the one thing you can’t work your way around. Failure to comply with the law can lead to large fines or even company shutdown. Researching market legalities before scaling should be high on your priority list.
An avid traveler will learn about the local customs before visiting any country, to keep safe and avoid misunderstandings. Companies that plan on scaling to a new market should do the same — there is a cultural ruleset to follow, and ignoring it can have grave consequences. What are the sensitive cultural spots when talking about global marketing?
The challenges of international expansion lie in finding the way to customize your content and strategy to a new audience. We talked about some significant cultural aspects like language and sensitive topics in previous posts, but now we want to focus on some less obvious cultural differences that can affect the success of your marketing campaigns.
The cold hard fact about startups is that 9 out of 10 will fail. In such a fight against the odds, knowledge is power. Countless companies have shut their doors due to failed expansions, but the best we can do is recognize where things went wrong and learn from their mistakes. Read about 3 informative examples of startup expansion plans gone pear-shaped.
One hour from now, there will be 11,000 more companies in the world. The harsh reality of 3 new businesses being launched every second makes the fight for market supremacy harder than ever, which is why so many startup companies decide to scale globally. What are the 5 most common mistakes companies can make with their global marketing?