Do you know the types of marketing strategy that companies use to increase their sales. In this post, we’re diving deep into each one so you’ll walk away knowing what they are, examples of when they’ve been used successfully, and exactly how you can incorporate them into your business’s own marketing.
If you’re looking for ways to diversify your marketing strategy or if you just want to get some ideas that you can implement in your own country, then this library is for you. You will find strategies and strategies used by companies around the world.
What Is Global Marketing?
I always like to start with the basics. What is global marketing? It is marketing that reaches across international borders to provide products that meet the needs of consumers around the world.
This may be a succinct way to define global marketing, but the process itself can be complicated, as well as time consuming. Whether you’re planning to outsource the work to global marketing services or handle everything in-house, you’ll need to commit plenty of time and energy if you want to join the (ever-growing) list of companies going global.
But don’t let me put you off; there is plenty of value to be gained by reaching out to international markets. You can:
• Increase awareness of your brand
• Bump up your sales figures
• Achieve economies of scale with your marketing activities and materials
• Gain competitive advantage
• Spread your risk
• Use your global experience to drive innovation in your product offering and your quality assurance processes
Things to Keep in Mind When Taking Your Brand Global
I think that a lot of people underestimate the number of practical considerations that come into play in connection with global marketing. International businesses need far more than a multilingual website to succeed with their global activities; they require robust infrastructures with everything from logistics to manufacturing tailored to each country that they operate in.
So, before we dig into the detail of how to create a global marketing strategy, let’s look at some of the key things you’ll need to keep in mind when taking your brand global.
Business Model Flexibility
First and foremost, you’ll need to be clear on how your business model will operate overseas. Are you just selling products, or will you be delivering services? If the latter, then would a franchise model be best?
Burger King is a great global strategy example of this franchising model, with an international marketing approach that maintains core brand values while also adapting to local cultures and requirements. In Australia, for example, it’s known as Hungry Jack’s, as there was already a ‘Burger King’ in operation there. In Japan, it serves the Spicy Shrimp Whopper. In Malaysia, the Taro Pie – made with the sweet, purple root vegetable known locally as taro – was a serious hit on the dessert menu.
Production and Logistics
Before you even begin to think about how your global marketing materials might look, there are plenty of decisions to be made about manufacturing locations, production facilities, storage, transport, distribution and the like. You need to know how your product is going to get to market to ensure that it’s viable to sell it in each of the locations you have in mind.
I also recommend spending time thinking about whether or not you want to adapt your product in any way as part of your global marketing efforts. Successful global marketing strategy examples of this include Netflix and Coca-Cola. The former adapts its content to suit each market, while the latter tweaks both its recipe and its product names to better fit with local consumer expectations.
Which countries do you plan to include in your global marketing efforts? For every country that’s on your list, you’ll need to check a few fundamentals:
• Is your product legal there?
• Are there any restrictions on selling it?
• Are there particular requirements relating to packaging or labelling?
• Does your product fall into a specific taxation category that’s likely to cause you headaches?
Being sure of all of this before you begin undertaking detailed market research is essential.
Which languages will you be selling your products in? How many different versions of your instructions/safety information booklet will you need? How will your brand name and your product names translate? Again, there are plenty of questions to ask before pushing headlong into launching in a new market.
5 Examples of global marketing strategies with technology at work
Airbnb originally began as a small marketplace for local community members to list properties as accommodations for visitors and guests.
By leveraging the right hashtags on social media, which originally began as a social experiment, Airbnb expanded from its small community in California to over 1,500,000 listings in over 34,000 cities worldwide within a decade.
2. Dunkin’ Donuts
Strawberry frosted. Chocolate glaze. Boston creme. These are just some of the favorite donut flavors that satisfy the common sweet tooth in the States.
However, in an effort to recognize its international customers, Dunkin’ launched a line of flavors, ranging from dry pork and seaweed to mango and grapefruit. These cultural flavors can be found on Dunkin’ Donuts’ website, which is available in various languages, including Simplified Chinese.
Nike designed a co-creation platform in order to serve its international markets. This platform allows customers to design products based on their own preferences, specifically cultural preferences.
When looking “behind the scenes,” Nike’s co-creation platform is also a dream come true for both developers and users. It is incredibly developer-friendly and APIs are easily accessible.
Additionally, users also get access to more apps, which means more user data is available and accessible for analysis. By understanding and analyzing user data, developers and improve algorithms, which can help improve the experience for users.
All in all, Nike’s co-creation platform appeals to a wide range of audiences — both domestic and international — which not only provides value-added services to users but also means more product sales.
The brands we have reviewed thus far in this article are American-born brands that have expanded their product lines, global marketing strategies, and have been successful at reaching international audiences. Now let’s look at a brand that began in Sweden but quickly expanded into America —and that brand is Spotify.
Spotify has successfully and creatively embraced the customer experience by allowing users to select music genres, songs, and artists based on their moods. While streaming music through Spotify’s website, users can select music that appeals to their habits and lifestyles. This also allows international artists to gain more exposure since their music is categorized differently, rather than the traditional “rock,” “pop,” or “country” labels.
5. World Wildlife Federation (WWF)
In an effort to spread awareness about the Earth Hour initiative — the World Wildlife Federation took global marketing to a whole new level.
By simply designing the “Blackout Banner,” which was positioned at the top of major media sites across various countries, the banner attracted approximately 1,000,000 impressions globally. The Blackout Banner was also awarded three MMA Global Mobile Marketing Awards in 2012 for their efforts.
How to create a global marketing strategy with content
After reading the above examples, you are likely thinking of some ways to leverage content and technology to build a global marketing strategy for your business and brand.
Here are a few tips on how to do that:
1. Understand cultural differences. Taking the time to research and understand global audiences, including understanding and recognizing the differences in languages, dialects, units of measure, holidays, politics, terminology, and so on can help you create content that appeals to various international audiences.
2. Know your audience. As we mentioned briefly above, knowing your audience is key to any marketing strategy. Researching your target audience and customer base, including geographical region, culture, interests, age and gender, and other demographics is the first step to nailing down a solid global marketing strategy.
Using a data analytics tool, such as Google Analytics can help you capture and analyze audience demographics, including international audiences. Google Analytics will provide insights as from where in the world your website is generating the most clicks and interactions.
3. Translate and localize content. Appealing to a global audience doesn’t necessarily mean you have to create all new content from scratch. You can simply translate or localize your existing content so that it accurately appeals to cultural audiences. Working with a writer, translator or localization specialist — preferably one who is familiar with global differences, cultures, and languages — can help ensure your content is ready to go global.
If you don’t have access to a linguist or localization specialist, consider enabling Google Translate for your website, which allows users to automatically translate and read the content on your website. You can also build a chatbot that is able to interpret a multitude of different languages.
The strategy for marketing around the world is to use and develop effective advertising. Marketing strategies must be linked to an overall business plan identifying customer needs and a clear description of your product solution.