Whether it is deciding to enter a new market or looking for ways to grow in existing ones, seeking out new, profitable opportunities is a constant task for global businesses, whatever their size.
There are so many factors to consider when determining where and how to invest both budgets and resources, all of which are unique to every company. From a digital point of view, understanding the online landscape, as well as the preferences and behaviours of the audience is a good starting point for further research and strategy development.
Our webinar on how to identify and seize growth opportunities in international markets gave an overview of the global digital landscape and shared advice on how to determine your next steps.
What should you consider before entering a new market?
Here are just some of the questions you need to ask before taking the leap:
- Is there sufficient demand for your product/service in this market?
- Do you have the logistical/resource capabilities to deliver your product/service in this market?
- Is this a mature market or does it have future growth potential (both economically and digitally), and how will this affect your strategy?
- What is the most popular search engine(s) that you should focus your SEO and PPC efforts on?
- What are the most popular social networks that you should focus your social media marketing efforts on?
- Are there any local restrictions (legal, digital or cultural) that may affect you?
- What are local internet speeds like, and how will this affect how you optimise your website?
- What kind of devices do people use to access the internet (mobile vs. computers), and how will this affect how you design your website?
- What channels do people use for brand discovery?
- What channels do people use for online brand research?
What are some key business considerations for market expansion?
- How fierce is the competition?
- How well do you currently perform? Are there logistical challenges or financial implications which could impact profit?
- Can you identify any gaps in the market, or customer pain points not yet addressed?
- Are there channels or platforms which could be explored and exploited to drive growth?
- Are you investing budget effectively?
- What are the industry trends in the market, and what might that mean for your product or service?
- Do you have the infrastructure and resources to support additional growth?
What was covered in the webinar?
In this webinar, our in-house international digital marketing experts explained how to identify the best international opportunities for your business. This will help you to dig deeper into your own industry and target markets, and determine potential growth strategies.
We also delved into the findings of our newly-published Webcertain search and social report 2022. This report covers 54 countries and contains over 1,000 stats for international digital marketers – including the answers to many of the questions above! We took a look at the report’s most interesting findings, explaining why they matter and how you can use them to successfully adapt your digital marketing strategy for different markets.
Here are some of the countries we discussed:
If you want to learn more about how to identify and seize growth opportunities in international markets, check out the webinar recording now!
In this webinar, you will learn:
- The current state of search and social around the world
- Specific trends and anomalies in key markets
- How to apply these facts and figures to your international digital strategy
- Key questions to ask when deciding whether to enter a new market
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