How To Grow Your Brand Globally

Now that you have excelled in your domestic market, and because you want to stay ahead of regional competition, you feel that the timing is perfect for an international expansion. That is a good call! But do you understand what it means to grow a brand globally?

Global expansion means targeting clients from multiple countries and regional economic blocs. It means localizing your products and/or services for multiple new markets. And because the world is not a homogenous market, technically, going global means opening one shop in one foreign market, followed by another shop in a different foreign market, over and over again. That means you will have to constantly struggle with unfamiliar local customs and languages, reimage your mission and vision, rethink your branding and marketing strategies, navigate new labor markets, and comply with new laws and regulations.

Global expansion is risky and understandably scary, but it is a risk you have to take if you are to earn and maintain a competitive edge in today’s fast-paced business environment. That is why you should read the 5 tips below on how to grow your brand globally.

1.  Determine if your product or service is a good candidate for overseas markets

Having a strong brand reputation in your domestic market doesn’t necessarily mean that you will succeed abroad. That is why you need to analyze your brand’s export potential before considering doing business overseas. Your analysis should determine these, among other factors:

 ·        Which markets have a pressing need that your products or services can satisfy?

·        How distinctive is your product with respect to already-existing brands? Competition is stiff everywhere, so you must be ready to fight for your place in every market you expand globally to.

·        Identify consumer segments that share common characteristics within the larger target market. If you sell high-end ladies’ beauty products, for example, how many women in your target audience can afford to buy your products?

·        How is the market affected by technological and scientific developments, and how will such developments impact the future marketability of your product?  

2.  Understand local laws and regulations

Opening a shop in multiple jurisdictions means that you have to comply with multiple sets of domestic legal requirements. It is advisable to consult reputable local legal counsels in every market you expand to. Here are a few legal questions to ask your legal counsel: 

·        How bureaucratic are the local company registration processes? How can you expedite the processes without breaking any registration laws?

·        Which unique employment laws should you know about and, in case of violation, which ones attract the biggest penalties?

·        Which payments or presents can you give to government officials as ordinary customary practice, and which ones can be translated as bribe/corruption?

·        Which are your tax obligations as a foreign brand?

·        Which intellectual property rights do you enjoy?

·        Of the local Civil law and the Common law systems, which ones can impact your branding and marketing?

·        How binding are exclusive distribution agreements between your company and local distributors?

3.  Seek to understand local cultures

Each international market is governed by its unique set of cultural preferences. Seemingly inconsequential factors in your local market, e.g. brand colors or product shapes, can be offending in another market. So, if you don’t want to offend the very people you want to do business with, and jeopardize your growth prospects, understand the following beforehand:

·        What is the local business etiquette? How should you dress when attending business meetings? How should you behave when dealing with workers, clients, or investors of the opposite gender? Is it okay to address elderly people by their first name?

·        Is it okay to discuss sensitive matters such as politics, racism, human rights, or religion in public? Where do you draw the line?

·        How deep do local community policing systems run, and what does your brand need to do to stay out of trouble with community leaders? In some communities in Africa and Southeast Asia, for example, you need the blessing of local elders before you are allowed to conduct any form of business.

4.  Avoid exportation pitfalls

 There are several pitfalls that plague exportation, among them foreign currency fluctuations, border requirements, logistical hurdles, and shipment delays. You will avoid them by formulating a stellar export strategy that includes all the logistics and legal requirements that are unique to each target market. Have a fall back plan in case your initial strategy doesn’t work out.

5.  Have a solid localization strategy

Localization helps you connect with local customers and achieve brand success. Here are a few tips for developing a solid localization strategy:

·        Hire a reputable translation company to translate important documents, web content, product user interface, and marketing campaigns into local dialects.

·        Localize your pricing as per the local demand, supply, and competition. Your home market prices will most likely not cut it for foreign markets.

·        Inspire trust and engagement with local communities by participating in local community development initiatives.

·        Ensure that your logo, brand name, and overall identity are clearly understood and accepted overseas.

·        Ensure that the images and videos you post on social media and on your official website are relatable to the local market.

·        Create a global SEO strategy. You will need to work with a multilingual SEO expert on this.

·        Hire local workers, particularly for the sales, marketing, and customer relations departments.

Conclusion

Up to this point, you are as good as set for global growth. Now go ahead and find financing partners if necessary, hire your team, find distributors and suppliers, set up the head office and local stores, and do everything else that you did when you were setting up your existing business. Expanding overseas will definitely be a tall order for you, but if done correctly, it can be very rewarding.

Best Tips For Building A Successful Career Network

Networking is an essential part of a business in this day and age. While the hardest workers out there would all like to believe that they live in a world where their work speaks for itself, but without networking, most businesses who do not network will get drowned out by the competition.

But what is Networking?

For those who may not know, networking is the art of effectively establishing relationships with people that are mutually beneficial. When people think of networking, one of the first images that come to mind is the typical large business type meeting with higher-ups in the company discussing big collaborations or business moves. This Hollywood image is almost non-existent in the small business world, as the workspace has taken a much more casual route, using meeting places such as coworking spaces.

Coworking Spaces

You may recall me praising coworking spaces in previous articles for their ability to increase focus and productivity, but they also can serve as an excellent networking platform. The Upsuite working spaces in Los Angeles serves as a good example of how a coworking space can create a socially dynamic atmosphere to not only maintain business relationships but establish new ones. The TV presentation rooms offer board-like privacy for those times that you require to do the things you would normally use an office for, while the casual area offers the contrast of an at ease setting to conduct business with new clients in a more relaxed manner. As far as establishing new business relationships and connections, the common area has a large social area which makes socializing with new people effortless. The long bar-like table near the cafe’ does this in a similar manner as well.

Social Networking

One of the quickly evolving factors of any business is how progressively integrated the internet has become into our lives. We can use this to our advantage and reach as many people as quickly as possible using social media outlets. Using our personal social media to get ideas out there can seem hit and miss at times, and some people may not want to go this route(depending on how much they want everyone they know to be hearing about their work). This is where creating work specific websites or pages can come in quite handy. Let’s use the most well-known one, Facebook, as an example: when you make a business page on Facebook you can create business-sponsored ads, and tailor your Facebook page to reach larger audiences, or perhaps more accurately, the right audiences, using the create a custom audience. Many other websites have customized settings like this as well, and many have unique ways of reaching a large audience. I’m not going to go into detail on every one of them, but the possibilities for reaching more people are more numerous than ever when you look at the number of ways you can reach an audience through one app, and multiply that by the amount of social media apps you are willing to use i.e Linkedin, Twitter, Instagram, etc.

Note

Educate yourself on the most effective ways to advertise. While many people only go so far as seeing the boost button, certain things like that may not be optimal for reaching different audiences and have been proven to only reach an audience of your “fans” specifically(people that already follow or work with you closely). Remember, just because it is convenient, does not mean that it is easy. Knowing how to properly use social networks to reach the maximum amount of people can be time-consuming and frustrating at times, so make sure you are willing to put some work and thought into your strategy.

Conclusion

There are many ways to build a stable career network, nearly infinite in fact. With this is in mind, the main idea that could encapsulate this article is this; if we want to build a successful network, we should be constantly looking for and seizing opportunities that come our way. Whether its a shared Coworking space, Social Networking, or simply building rapport with the people that are a part of your everyday life, improving and increasing your network can be as simple as seizing the moment to reach out and interact.

9 Live Chat Benefits for Business

If your customer service requests are piling up and you regularly leave your customers waiting for hours on end for a response, it’s high time you found a new customer support solution.

Phone call centres, emails, and social media don’t cut it anymore. The average wait time on social media is 10 hours. In comparison, emails take even longer, and customers can wait for up to 12 hours for a reply. 

This is where live chat comes into play. The convenience of live chat and the fact that it’s 100x faster than any other digital service channel makes it the perfect customer service solution. 

Implementing a live chat strategy for customer support can do wonders for your business. From increasing conversions to building customer loyalty, the benefits of live chat are many. 

Since live chat software allows you to handle customer requests in real-time, it can dramatically improve customer satisfaction and boost your sales. 

According to the American Marketing Association, B2B companies see a 20% increase in conversions after they start using live chat. Similarly, a report from eMarketer found that 35% more people make a purchase online after interacting with a sales agent via live chat. 

There are just some of the advantages of using live chat for business, so if you want to find out more, don’t miss the infographic below by The Website Group.

6 tips to ensure your web site is ready to perform again

Is your website ready to perform again?

Research shows you have less than 10 seconds to convince potential customers that your website is useful. In order to make the most out of that short amount of time – this is what we recommend:

  • Make sure that each page serves a single purpose. If you try to do too much on a page, your message may get lost.
  • Place high-value content ‘above the fold’ (top visible area of the screen) to ensure visitors can find what they are looking for without needing to scroll.
  • Use a clear ‘call to action’ such as a booking button, to allow people to easily take the next step.
  • Use clear short headings to help people rapidly skim the page for relevant content.
  • Use quality images and graphics to help give fast visual context – which makes visitors more likely to understand your content.
  • Ensure your web pages have been optimised for the search engines. Without good SEO your site will perform poorly when people search for the services or products you offer.

Need help or advice?
Visit us at www.navegabem.com or send an email to info@navegabem.com

Top 10 advantages of our Social Media Marketing Agency services?

Social Media Marketing Agency & Consulting Services

Engage and expand your audience across the web with Social Media Marketing

A clear and well-defined social media presence is the way to expand and grow your reach. Social Media like Facebook, Instagram, Twitter, Pinterest and YouTube can have a massive impact on your online business. There is no other marketing option that is so low cost and with such a great feedback potential. Google is using social media activity as an indicator of website credibility.

What are the top 10 advantages of our Social Media Marketing Agency services?

  • Highly increased Brand recognition
  • Highly improved Brand loyalty
  • More opportunities to convert
  • Much higher conversion rates
  • Improved credibility for your business
  • Increased inbound traffic
  • Lower marketing costs
  • Improved search engine rankings
  • Overall improved customer experience
  • Improved customer insights

Stand out from the crowd on the most popular social networks in the world!

With our Social Media Marketing Agency strategy you’ll get

  • A fully managed social media campaign leaving you free to focus on your business
  • Consistently updated content so that it’s always current & relevant
  • Monthly statistics so you can see how your customers engage online

As a Social Media Marketing Agency we are focused on substantially increasing communication between you and the rest of the world. We will show how interacting with your customer base and their networks can make an enormous difference in bringing you new clients and generating a better income. Learn more