Advantages and Challenges of Going International with Global Marketing

Are you wondering about your options for expanding your business into new markets? You may want to consider global marketing! 

Global marketing is what it sounds like — marketing your products and services in countries other than your business’s primary location. So, is it the right move for your business?

Read on to discover the advantages and challenges of global marketing — and our tips for expanding your business internationally!

Explore: 6 Tried-and-True Digital Marketing Tips

What is global marketing?

Global marketing involves expanding your products and services to other countries — but there’s a lot more to it besides simply offering your current products in new places. You have to do a lot of work and research to understand different markets and create a marketing strategy to appeal to that market.

Advantages of global marketing

If you’re looking to expand your selling markets, global marketing is a must-have.

Consider these benefits of global marketing:

• Increased reach: One of the most apparent benefits of global marketing is introducing your product or service to whole new audiences that could use it. You help reach more people interested in what you offer and expand your market potential.
• Heightened brand awareness: Make your brand known in more than your home country by marketing internationally. Marketing your company in international markets also allows you to strengthen your brand image and boost awareness. 

• Opportunity for new streams of income: Opening locations internationally can increase your company’s revenue by introducing new products or services to specific areas. 
• Improve your products and services: Selling in more markets means being able to receive more feedback. More feedback may allow you to improve the quality of your products or create new ideas for products that ultimately helps you sell more in the future. 
• Gain an advantage over your competitors: Especially if you operate a small business, expanding into a global market gives you an edge over competitors who exclusively operate locally. 

Challenges with internal marketing

As with many promising marketing strategies, there are some possible issues with global marketing you’ll want to consider. Here are a few hurdles you may run into when starting with international marketing:

• Language barriers: If you don’t speak the language of the market you’re expanding to, you’ll find some challenges with translation. Make sure you have a team that can effectively translate your products into the language of the new market.
• Cultural differences: Marketing strategies in the United States may not work for a country like India, France, or Thailand. You need to account for the cultural differences in each country and tailor your marketing messages to appeal to that region.
• Stock issues: When you venture into a new international market, you may not know how sales will go. This can lead to overstocking and underselling, or having too little stock to meet demand. Creating a marketing forecast can help you better predict how your marketing will work in a new market.

A case study for doing global marketing right: McDonald’s

One notable example of a company with a successful global marketing campaign is McDonald’s. Fast food restaurants that expand operations into new countries have to consider altering their menus to adapt to new cultures, tastes, and preferences. 

McDonald’s has had a lot of success doing just this — they offer specialized local menu items based on location. For example, they provide macaroons in France, poutine in Canada, and a McAloo Tikki Burger® in India. 

McDonald’s is one of the most recognizable brands in the world. Their global presence emphasizes the essential parts of their brand while catering to the specific locations they operate in. 

5 quick tips for doing global marketing right

Consider these tips and tricks if you want to create a global marketing strategy:

1. Have a basic marketing strategy in place that you can adjust as needed to meet market needs
2. Personalize promotions based on location to boost engagement and interest
3. Emphasize branding so you stay recognizable across borders
4. Be mindful of language and cultural differences across other countries
5. Use analytical tools to understand your new audiences better and adjust your marketing as needed

Let WebFX help you go international with global marketing

If you’re trying to expand your audience and go global, you need a marketing partner that understands how to navigate the global market. At WebFX, we have offices across the globe and understand the intricacies of marketing globally.

With a custom digital marketing strategy, we can help you reach a broader audience so you can boost your company’s revenue.

Contact us online or call us today at 888-601-5359 to speak with a strategist about our digital marketing services!