Reasons to expand your business internationally
“If you talk to a man in a language he understands, that goes to his head. If you talk to him in his language, that goes to his heart.” – Nelson Mandela
Thanks to the internet, reaching a global audience is easier than ever before. There is now an (online) bridge that allows many companies to expand internationally, and technology makes it possible for almost any small business to reach other markets. The international market is very lucrative for those who aspire to flourish. For a global presence, the internet is the best way to connect with clients.
But, if you are selling products or services, is English the proper language to do business? According to a 2014 UN’s International Telecommunication Union study, the internet is a global marketplace with over 3 million users, and only 28% of them are English speakers.85% of internet users do not have English as their native language, and a report by Common Sense Advisory in 2014 shows that 72% of the consumers prefer websites in their own language. More than half of all Google searches are not conducted in English. I think you’re getting the bigger picture. More languages = more potential clients.
“Are there any more reasons for me to go global” – you ask. In fact, there are many motives for you take a risk and take your business to the next level. Here is a list of them:
- It will diversify your customer base;
- You will be able to sell your products/services elsewhere. An item that is “vulgar” in your country may be “hot” in other countries;
- It gives you the chance to spread your risk to other markets;
- If you are selling seasonal products, there will be no quiet periods. E.G: When it’s summer in Portugal, it’s winter in Brasil;
- You can learn how to compete and grow while expanding from market to market;
- When investing in globalization, the ROI ratio will most likely be lucrative;
- It gives you a chance to build an international community;
- It shows cultural sensitivity and, if your clients feel that you care about them, they’re almost certainly going to be more interested in working with you;
- Increased revenue;
- Improved Search Result Ranking;
- Gaining a competitive edge – Presenting a product in the costumer’s mother tongue will keep you ahead of others.
When adapting your business to another market, here is what should always be considered:
- Language and culture – Develop cultural savvy prior to entering the marketplace. Avoid cultural/linguistic misfires. Develop your work according to local customs ;
- Cross-Time Zone Business – Learning how to manage time, according to the different time zones, is of the essence;
- Legalities – Every country has its own laws. Before “diving in foreign waters”, consult an experienced attorney experienced in international trade;
- Define and adapt your business plan to access global markets;
- Conduct market research – Identify your prime target markets;
- Most importantly – Enjoy the process.
If you need any help adapting your content to the Portuguese market, do not hesitate to contact me.
I hope you enjoyed this post. Please feel free to share it and add your suggestions in the comment section. See you next time!