COVID-19 has caused a lot of disruption to businesses from virtually all backgrounds. Sadly, the revenue opportunities for your primary geographic audience will be limited. On a brighter note, though, the digital age is very accommodating to brands that wish to cast their nets further afield.
It does require a conscious effort to make this approach to business worthwhile. Once the winning strategies are in place, though, it should lay the foundation for extended success. Here are six simple steps that will enable you to achieve those goals.
Use Amazon Selling
When trying to reach new audiences, you have to accept that your brand reputation back home counts for very little. Consequently, then, some of the leads will hesitate to use your company directly. Amazon overcomes many of those issues because it is the biggest online retailer with a global reputation.
Once you've set up an Amazon store and partnership, managing sales and inventory is easy. Moreover, it's possible to store items in their various warehouses and units. This reduces your admin and expenses, along with the risks. Better still, you'll gain the benefits without losing the ability to offer quick order fulfillment.
This is the perfect way to test the waters in multiple territories.
Consider Franchising
Amazon isn't the only partnership that can be made. If you want to reach new territories without needing to play an overly active role, you're not alone. Turning the company into a franchise is the easiest way to make it happen. The first one requires a lot of hard work and preparation, but the blueprint can be used again and again.
Franchises are commonplace around the world, particularly in the food and restaurant industries. Retailers, gyms, and salons can make it happen too. The Which Franchise guide will provide the insight and direction needed to succeed. As long as you find the right territories and franchise owner candidates, you'll do well.
Your profits per venue will be small, but the overall returns can be huge.
Image by Gerd Altmann from Pixabay
Appreciate Cultural Influences
Ultimately, we are all a part of the human race. A far greater number of attributes unite us than divide us. Still, cultural differences do exist while contrasting climates have an impact too. For the sake of resonating with an audience, it's vital that you show an appreciation of the location. When you do, the leads and conversions will soar.
Depending on your line of business, temperatures could have an influence. Likewise, religion and political views may alter your branding and services. In a bid to make the brand more accessible, Architekst translation may be a very wise investment too. After all, the interactions with your brand should be free from ambiguity.
The contrasts from one place to the next are minimal. Still, that doesn't change their importance.
Have Distinct Social Accounts
Even if you are essentially running the whole business from one location, clients need a local presence. Firstly, a virtual office address will give you a presence in a new territory without the costs of opening a store or office. Meanwhile, website extensions relating to individual cities or countries can be very useful too.
In today's world, however, many interactions take place on social media. Setting up accounts for individual stores or territories is easy and helps the overall brand image grow. If you don't have an active team in that area, freelancers or outsourced customer care teams can take care of everything. This extends to live chat and telecommunications.
The brand needs to be accessible, especially when leads have questions. Embrace it.
Use Zonal Pricing
One of the key differences between varying locations is the GDP. If you are trying to sell products at the US value when people in the new country earn 10% of the average American, it won't work out. The prices have to reflect the costs of living and the levels of disposable income. Think supply and demand, and affordability.
The basic concept is known as zonal pricing, and there are plenty of reading materials on it. Until you get this right, you'll have no chance of beating the existing competition. People want value for money in every location. If you can't offer it, there's very little chance of the venture taking lift-off. Regardless of the product quality.
Overlooking this issue is one of the most common problems of all. Don't fall into the trap.
Be Consistent
Finally, whatever you do in business, there should be a level of consistency. Otherwise, you could find yourself with a mixed reputation across locations. Likewise, when people have a bad experience in one territory, it could impact their consumer habits in other places. Worse still, their scathing reviews could cost further sales.
As mentioned, some subtle differences may exist. For example, menus may add new dishes while clothes may incorporate fresh ideas. Nevertheless, a clear brand personality and marketing strategy should be in place. Whether you play an active or passive role in secondary locations, this direction is vital.
When supported by the other ideas above, success is virtually assured.