Grow Local, Go International
Business expansion is instrumental for any enterprise, whether growing locally or going international. This strategic progression involves maximizing opportunities, leveraging existing client relationships, and venturing into new markets.
Let’s take a brief look at local and international expansions to see how you can gain sustained success.
Local Expansion: Strengthen Your Roots
Expanding your business locally allows you to solidify your position in familiar territories. This involves leveraging your existing client base while trying to enlarge your local market share.
1. Leveraging Existing Clients: Maximizing Relationships
Your existing clients are valuable assets. By focusing on client-centric growth, we help businesses unlock the full potential of local growth and establish a solid foundation for success through the following strategies:
Cross-selling is a sales strategy in which a business promotes additional products or services to existing customers, aiming to enhance their purchase experience by offering complementary or related items.
Investing in cross-selling strategies ensures that you are not merely a provider but a comprehensive solution partner, enhancing the value you provide and deepening your relationship with your existing clients.
Up-selling is a technique in which sales representatives encourage clients to purchase a higher-level or upgraded version of a product or service, thereby increasing the overall transaction value.
By showcasing the benefits of premium services or advanced solutions, you not only increase revenue but also demonstrate your commitment to the success of your clients.
c. Investing in Retention
We usually advise our clients to invest in customer retention by building a positive customer experience. A satisfied customer is more likely to stay loyal, contribute to additional sales through cross-selling and upselling, and become a brand advocate, bringing in fresh prospects and helping you with your business expansion.
2. Expanding Horizons
By identifying and tapping into new segments, a company can diversify its clientele, expand its reach, and capitalize on fresh opportunities. The key lies in understanding potential target markets’ unique needs and preferences.
To expand business locally, we have helped numerous clients enter:
a. New Segments/Verticals
Identifying and targeting new segments or verticals opens doors to untapped opportunities. Through market analysis and tailored marketing strategies, we can position your products/services to address a wider range of needs, broadening your reach and relevance.
b. New Local Regions
Expanding into new local regions is also an effective strategy to extend your footprint. Whether it’s neighboring cities, or even provinces, understanding the nuances of different regions and customizing your approach can be a game-changer.
Global Expansion: Go International
Over the years, Direct Objective has assisted companies by offering international marketing services in more than 60 different markets across five continents.
Reasons to enter international markets:
- Decrease dependency on domestic markets
- Extend target market
- Become the standard in your industry
- Increase your margins
How Does International Marketing Services Help?
The most important issue in global business expansion is to avoid trying to go alone. Hire experts and seek out strategic partnerships that can assist you based on a real business experience within your target market.
Here are a few ways our international marketing services can help you expand your business beyond borders:
Conduct 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 international go-to-market plan (and we do not mean hiring a salesperson in your new target market)
Ready to Go International?
Share your business expansion ambitions and challenges with us and consult our experts.