Growth expectations are having to be tapered because of the difficulty in the current economic climate. It has meant businesses are looking to other regions with better financial prospects as they seek an increase in profits.
There’s much to consider when launching in Europe. For a detailed overview, take a look at Tradedoubler’s own guidance. However if you want some more easily digestible tips, then nonstopConsulting has provided five top pointers below.
1. Pick your target market wisely
With so many varied cultures across Europe, it’s important to select your target market carefully. Keep in mind that mainstream products and services in the UK may not be relevant in other markets, and that other economies may not recover from recession for many years to come. Take time to ensure that your proposition will have enough of an impact to meet your international aspirations before investing time and money in a specific market.
2. Know the language
English being our native language, it would be easy to assume that a high percentage of people in other countries will be able to understand a website written in English. Ensure that your website content is translated correctly (this will almost always require more than a simple translation tool). Where possible, work with or employ native speakers who have first-hand experience of the market and this will substantially increase your chances of reaching your new audience effectively.
3. Know your place
Take time to work out where your proposition sits in the local market hierarchy. You may be established as an online ‘micro brand’ in the UK, but keep in mind that whilst your website may be well established here, this does not automatically guarantee success in a foreign market. As a new player in any market, it’s important to take the time and effort to establish yourself locally – even if this means going back to basics in the new market.
4. Get to know the locals
Partnerships and relationships are essential to growth and this is particularly true when launching an affiliate programme in any new market. Don’t trust your business to luck when venturing out into unknown territories. Working with international performance marketing specialists who have a detailed knowledge of the local market can substantially improve your chances of success when undertaking international expansion. You can hit the ground running by carefully selecting the right partner agencies, networks and publishers to increase your chances of gaining valuable exposure to your program during the launch phase and beyond.
5. If a job is worth doing
Don’t be half-hearted and simply hope that things will take off. You may not always need a local in-house team to achieve success internationally (for example there are many solutions such as Amazon FBA that offer cost effective distribution into Europe). Be sure to embrace the local culture, provide a relevant local website and marketing approach, allocate suitable budgets and apply as much focus as you would to launching in the UK to improve your chances of succeeding with your international growth.