If you have saturated your home market, it’s time to think about expanding into international markets. After all, there are over 7.5 billion people in the world, and only 325 million of them are in the US.
Your research will indicate whether your expansion will be worthwhile financially.
Now that you’ve done your research, you have a good idea at what countries may perform well. However, you don’t want to push into five, ten, or twenty new countries all at once. You need to start small.
When you start to expand, you may lack knowledge and resources. An easy place to test your global presence is an international marketplace, such as Amazon, eBay, or Daigou.
Localization is the key to success. This means doing things like providing individual subdomains or even sites in each country you plan to sell.
During the process of localization, you will discover that consumers in different markets prefer different payment methods.
nternational shipping is going to be a crucial element you have to think about. It will affect your bottom line and levels of customer satisfaction. The solution is to find local shippers within a country.
It’s not just desktop traffic to your eCommerce store that you have to worry about. Mobile commerce is on the up.
How on earth are you going to grow an audience for your product? The answer lies in social media.
For international campaigns, local brands and influencers should be able to gain a strong following in new markets.
Your existing distributors will most probably jump at the chance to help you expand, as your success will be their success.
Your government might want a chunk of your revenue at the end of the tax year, but they can also help you propel your company into new markets — so make sure you take advantage of any grants made available to you.
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