Is a Global Approach in the Works for Your Company?

When your business turned the calendar on 2015, what goal or goals did you set aside for the New Year?

For some businesses, the goals of increasing revenue and improving customer service likely stand out. Others, meantime, may be looking at doing a better job of hiring the right pool of talent. Still others could be turning their attention to doing more with less.

Whether your company falls into one or all of those categories; is the goal of expanding your business outside the U.S. a reality in 2016?

For a number of U.S. companies, taking their brand outside the U.S. borders is not only a goal for this year, but for many years to come.

So, how do you make that global approach a reality and not just a dream?

Give Your Brand Some Muscle

In order to give your brand the best opportunity to succeed not only stateside but in one or more venues outside the U.S., you need to consider the following:

• First, will your brand have appeal in the intended markets you’re thinking of expanding to? It is critical that you take the proper amount of time to review the foreign market or markets you’re looking to expand to. Is there enough business potential there? Are there any current or pending issues (financial or political) that could throw a monkey-wrench in your intended plans? Finally, what kinds of support systems will you have in place for both the good times and if things go a little south? These are all matters you should think about now, not down the road;
• Second, what types of promotions do you have planned for your brand outside the States? Some marketing tactics you’ve used stateside is not necessarily guaranteed to work outside the U.S. Also, how much money/time/effort can you allocate for necessities such as marketing and social media? Will you opt for marketing efforts to include things like mobile marketing, content marketing, brasil insight business consultation, networks and conferencing and more? Given how challenging your promotional efforts can be let alone in the U.S. at times, the challenge level can increase exponentially when heading outside the U.S. Be sure to have your promotional ducks lined up in order to give you the best shot for success in touting your brand;
• Finally, will you be able to expand globally without disrupting your business at home? While there are myriad of global opportunities out there, you can’t take your eyes off the big prize, your homegrown business. Sure, you feel now is the right time to expand beyond U.S. borders, but are you doing it potentially at the expense of what you’ve taken the time to build back home? Making the decision to go global with your brand is never one to be taken lightly. Make sure that you weigh the pros and cons of such a move, better positioning you and your business for success when you step outside the United States.