Marketing Strategy > US & International Markets
Enter the US Market or Other International Markets
Be prepared and make your first steps to expand internationally with international marketing services
Testimonials“Resulting in a sizable global market penetration, Gil headed for us a design team of a new system management software product. He launched the product effectively and quickly Worldwide and managed to replace other significant players competing products"
Roni Einav, Former Chairman and President of New Dimension Software [acquired by BMC Software]
So you’d like to expand internationally and enter the US market or international markets? Over the years, Direct Objective has assisted companies with international business marketing services in more than 60 different markets across 5 continents. Before getting started with your international growth, you should be clear what your reasons for expansion are.
Here are few reasons to enter international markets:
- Decrease dependency on your domestic market – In order to reduce risks, we suggest that a company operate in multiple markets. That way, when a certain market is suffering from economic instability, other markets can compensate.
- Extend your target market – For many firms that own a sizeable percentage of the domestic market, it makes sense to explore new markets. Remember, choosing a new market is not a spontaneous decision. There must be a business case assessment and then a firm international business marketing strategy.
- Become the (worldwide) standard in your industry – It is great to be well known domestically for your solution, but in order to boost your company’s standing into the stratosphere you need to think global and expand internationally.
- Increase your margins – There are couple of reasons why expanding internationally would increase your margins. First, economies of scale will allow you to cut production costs by boosting sales, increasing your profit on every unit sold. Second, you probably will sell in markets where exchange rates are favourable. Finally, selling your solution in markets that have a greater need than your own domestic market may enable you to increase price points and profit margins.
So if entering global markets is so attractive, why are most companies hesitating or delaying their international debut? On a weekly basis Direct Objective meets with companies that have tried to expand internationally, by entering US, European, Japanese or other markets and failed. Some companies are so traumatized by failure that they refuse to reconsider another international adventure. How does this happen?
In Little Red Riding Hood, (yes, our childhood can teach us more than we think), her mother instructs her not to talk with strangers. We’ll rephrase it slightly, and say “Don’t talk with strangers, unless you’re well prepared.” Most companies are not prepared enough to enter the US market or other international markets.
Preparing to Enter the US Market or International Markets: 5 Steps
- Prepare market research
- Establish a business case for the market you are targeting
- Check legal issues that relate to such expansion
- Adjust based on the specific cultural/demographic characteristics
- Define a practical go-to market international business marketing strategy (and we do not mean hiring a sales person in your target market)
The most important issue is to avoid trying to go globally alone. You don’t want to follow in the footsteps of Little Red Riding Hood. Hire experts and seek out strategic partnerships that can assist you based on a real business experience in the market you are targeting.