So you’d like to go global, enter the US market, or reach other international markets?
Over the years, Direct Objective has assisted companies by offering international marketing services in more than 60 different markets across five continents. Before getting started with your international growth, you should be clear on what your reasons for global expansion are.
Here are a few reasons to enter international markets:
In order to reduce risks, we suggest that companies operate in multiple markets. That way, when a certain market is suffering from economic instability, other markets can compensate.
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. Make an impact and try to influence other international markets to adopt your solution.
There are a couple of reasons why global expansion would increase your margins. Firstly, economies of scale will allow you to cut production costs by boosting sales, thus increasing your profit on every unit sold. Secondly, you have the option to sell in markets where exchange rates are favorable. Finally, selling your solution in markets that have a greater need than your domestic market may enable you to increase price points and profit margins.
So if entering global markets is so attractive, why do most companies hesitate or delay their international debut? On a weekly basis, Direct Objective meets with companies that have, as yet, unsuccessfully tried to expand internationally by entering the US, European, Japanese or other markets. Some companies are so traumatized by the failure that they refuse to reconsider another international venture.
Let’s explore an analogy. In Little Red Riding Hood, (yes, our childhood tales 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 to strangers unless you’re well prepared.” Most companies are not prepared enough to enter the US market or other international markets and end up being eaten by the big bad wolf. Preparedness is a key factor for success. Do not skip this crucial phase!
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 within your target market.
“With their technical background, Direct Objective was able to easily understand complex technology and engineering processes, and translate that to a simple concept that our customers could understand. We feature these concepts on our website now, and we are getting international leads from all over the world.”Joël Martin, President, Transtech Innovations