The goal of any business or company is to strengthen its brand, that is, to ensure that its products or services are recognized and attract new customers. For this, businesses use different processes that allow them to resize their scope, such as loyalty or internationalization. In the case of the latter, the digital age has made the process incredibly easy, offering new tools to position themselves in new markets more easily.
But… What is internationalization?
Internationalization is a fairly simple concept, since it is about expanding a business outside of its local market. This on a global scale, for example, would be taking a business born in Spain to another country, such as Germany or the United States. However, beyond presenting a simple concept, this process requires a good strategy and intelligent management to be carried out successfully.
That said, we believe it is important to know how successful internationalization can be carried out in any market and with any type of business. For this we have decided to explain this process in this post, dividing it into these four main phases.
4 phases for a successful internationalization
1. Identify business opportunities
As we have said, internationalization consists of expanding a business from its local market to that of a new country, but this does not mean that it can be done to any country. The basis for any internationalization process is know the opportunities for success that the business model of an eCommerce or company may have.
For this, it is necessary to carry out an in-depth analysis of the market trends of the countries you want to reach. In this way, it is ensured in advance that the product or service offered will be of interest to the public. Although this point may seem obvious, it is very important, since no matter how prolific a market is, if a product does not match its trends, it may not survive.
2. Evaluate the target market
Now that the target country has been selected according to trends and compatibility with the business, it is time to study the market. This second step consists of evaluating the different aspects that affect the development of a business. We talk about the different regulations, both tax and legalwhich govern trade within that country, as well as the competition within the industry. Also included in this second step is the recognition of the target population, consumer culture it handles and any relevant information.
All this forms a fundamental part in the development of market strategies that will later be the growth engine of the brand. Therefore, the more detailed and complete the information retrieved, the better it is for the business.
3. Entry Strategy
Taking into account the anticipation that we raised in the two previous points, it is to be expected that internationalization will have a specific entry strategy. In this third point, design is very important, since it is about generating impact with the arrival of the business model in the new market.
This implies a design work on the image and the product that manages to generate an identification of the brand with the public of the target country. This is where all the information retrieved in the second point comes into action, as it will allow shaping strategies according to the expectations and needs of the public.
4. Measurement and scaling
Finally we come to the last phase of this internationalization process, which implies consolidation within the new market. At this point it is necessary to carry out a differentiated analysis by marketso evaluate the productivity and efficiency of internationalization.
Starting from this, the scaling of the business within the new market would come into action, that is, the growth of the company or eCommerce in this new environment. Here, one of the most important factors is process automation, as it leads to a smoother work experience. And it also allows us to focus resources and efforts on other fields that deserve more attention.
As we can see throughout these four phases, internationalization is a process that takes work, beyond how simple it is. For this reason it is always advisable to have backup or supportwhen taking the initiative in a project of this type. , is a digital marketing agency that has an advisory service for internationalization projects backed by years of experience in the sector. for what can be an ideal ally when it comes to taking the initiative in such a project.
As you told us Diego Ruiz, LATAM Country Manager of Geotelecom: «In the highly globalized world we live in today, the internationalization of online business is a key opportunity that all eCommerce should take advantage of. The Covid-19 pandemic has forced the acceleration of digitization at a rate never seen before and right now we are at the key moment to bet on a specialized agency to help us scale the business by selling in other countries«.
Image:
Stay informed of the most relevant news on our news channel
Facebook Comments
Disqus