How to Enter the International Market Successfully
In this article, you will find out 3 main steps that you need to take in order to grow internationally.
3 Ways to Move Your E-Commerce Business to International Level
At some point, every e-Commerce business owner starts thinking about going internationally. It’s worth mentioning that it takes lots of effort, time, funds, and dedication since it’s pretty challenging due to the high level of competition. Here are three main ways that will help you to enter the foreign markets effectively:
- Choosing the relevant market that will bring you success;
- Localizing the website and marketing activities with the help of professional services like Translate.com/localization;
- Considering international payment methods, taxes, and shipping.
Now, let’s cover each of these ways in-depth so you can implement priceless tips in real business life.
Find the Right Target Market
Before you even start doing something to go internationally, you have to define your target market first. Think of what countries you want to conquer with your e-Commerce business. Analyze what countries are already buying your products, and then your task will be to gather all the information about your potential overseas clients.
The next step will be to define the demand for your product in these specific countries you have chosen. If there is a gap in the product market, then you should certainly go for it. In case the market is very competitive, it’s better to think twice before making the final decision and consider some other options. Also, try to find out the main local purchasing trends to provide people with the most personalized products to drive more revenue.
The extensive market research and analysis are extremely important, so that your international expansion is worth financially, and you don’t fail. Research your competitors to know what strategies they used to attract customers and what products they are selling.
It will also help you determine what price policy you will follow. If you see that your product range can be modified to satisfy international customers’ needs, then you will have time to do it before launching the website.
Localize Your Business Efforts
Localization of all your business activities is something you need to pay attention to in order to make all your efforts successful. Every country has a unique culture with its peculiarities that you also have to consider to get revenue and make your e-Commerce business competitive among similar local companies.
After market research, you have to do extensive cultural research that will help you understand people, their set of minds, needs, preferences better. It’s of paramount importance to understand whether there are some taboos and symbols and colors that have a special meaning for their culture.
Once you have discovered all the cultural backgrounds of countries you want to introduce your business to, you should tackle the most important part, which is localization. It’s very important to adjust the website, content, marketing materials, other activities that will be suitable and easy-to-understand for foreign customers.
Create Your Localized Website
First of all, you have to localize your website and all content that you have. International customers prefer to read the information on a website in their native language even if they know English.
Translating written materials won’t be enough, so you have to hire a team that knows how to localize a website. It’s important to adjust the text according to their cultural peculiarities and differences to increase revenue and drive more sales.
Turn to experts, and they will tailor all wording and visual appeal of a website according to the needs of each international audience you are interested in. Customers will feel that you care about them and want to provide the best experience. They will buy and, most likely, will come back to buy more in the future.
Hire a Local Team
Preparing a website for an international audience takes time, money, and patience, but it’s crucial to make your business successful on a global scale. Also, you have to localize all marketing activities and hire a local team of professionals.
The customer approach you use might not be suitable for foreign clients. So, outsource a team of qualified marketers who know the specifics to come up with an effective strategy that will work for you much better.
Take Care of the Financial Side of Your Business
Selling products abroad means dealing with international financial aspects like taxes, delivery costs, payment methods, and shipping. These are the things you should also consider, as they will define the overall customer experience of international clients.
Research the tax policy of your target country and find out all the details and pitfalls that you will have to deal with. Taxation is an extremely important business aspect that you have to take care of in the first place.
Also, it will be extremely important to find out what are the delivery options and make sure it’s cost-effective for your business. In addition, research shipping ways that your international clients will be able to use to receive orders.
Find out the preferred payment methods of overseas clients and try to provide all the needed options to guarantee them an excellent purchasing experience. Keep in mind that every country is unique, and it’s worth taking some time to research how international customers prefer to pay. Giving the desired payment methods will definitely spur visitors to buy from your website.
By the way, don’t forget to provide your customers with prices in their local currency so they can understand how much they will pay and what will be the shipping price. Also, ensure impeccable client service.
Summing It Up
Entering the international market isn’t easy, but by implementing these tips, you will be able to do it more effectively and increase your chances of success. These are three essentials that you should certainly consider and take care of before even starting your activities to conquer foreign countries with your e-Commerce business.