International marketing will elevate your business by reaching new customers in new markets. New customers mean many things for your business, but most importantly – more revenue opportunities.
First, let’s answer the question: what is international marketing?
International marketing is a part of any global expansion strategy that involves marketing services for your business in a foreign country outside of your current domestic market.
The downside? There are hurdles involved with marketing to other cultures and a learning curve with getting familiar with other countries. The last thing you want is for a strategy to fall flat due to a miscommunication. If your SEO company decides to stay regional, this could be the best route! It may have less of a risk of stretching itself too thin while in uncharted waters.
But if you already have international ties in your business, going global could be the next step. International marketing is key for global expansion because, in order for people to buy your product, they have to know who you are. Building up your brand to tap and making it easy for consumers to recognize you is essential for success.
Another benefit of international marketing is more awareness, which means more customers, more customers mean more transactions, and more transactions means, well, you get it by now.
It’s important for your content to be relevant and accessible to those in the international markets.
Whether it be a website, social media accounts, print media, etc., international marketing will keep customers informed and updated on your product or service.
Expanding to an international market is a huge opportunity to grow your business and reach new customers. When executed correctly, international marketing has the potential to exponentially increase business for your company.
Let’s dive into some of the specific benefits of international marketing.
1. Larger Market Share
Want to know one of the biggest perks of creating localized content for your new target market?
Two words: Finder’s fees.
A finder’s fee is the advantage of being the first one to write content about a specific subject in the language of your new market.
This means you have a huge market of non-English speakers who are craving for content in their language.
Many businesses don’t invest in Spanish or Portuguese content because they don’t think there’s a market there or any chance they’ll get their money back.
What does that mean? There are even fewer competitors in the game for you to outrank.
Once you start catering to those people, you’ll control a large percentage of the market. Implementing this kind of localization strategy is a huge win for you and your readers.
Additionally, you can establish yourself as a trusted authority with comparatively little competition and really connect with the local market.
However, even if you’re first in the game, you still have to make sure your content is properly adapted.
For example, you might be writing about “How to Create Advanced Content Marketing Strategies” for your U.S. and Canadian audiences. But, there might be much higher search traffic in Mexico for a search like “Basic Content Marketing Strategies”.
2. Consumers Are More Likely to Buy Products
A couple of important statistics about e-commerce from the Common Sense Advisory Survey found that:
72.1% of consumers spend most or all of their time on websites in their own language.
56.2% of consumers said that the ability to obtain information in their own language is more important than price.
As you can see language trumps price, and if you expand into foreign markets with proper translation and localization, you will reap the rewards!
3. Grow an International Reputation
Some of the largest and fastest-growing countries in the world are in Latin America. There’s a huge market potential for businesses looking to expand, and building your brand in those new markets is crucial.
It might sound obvious, but one of the benefits of international marketing is having localized content helps grow your reputation.
If your content is localized with your market in mind, you’ll connect better with your target audience. Not only that, but your industry competitors (and Google) will also start to see you as a professional, dependable organization that can function successfully in different markets.
It’s international networking at its finest!
One method of localization that is increasingly popular is social media. Due to the high use of social media, companies are reaching out to foreign markets through social media and they are using the local language, slang, and cultural references to gain trust with local markets.