Have you been running your business and now want to take it global? One of the factors that will define how successful you will be is branding. Having said that, how do you build a global brand? Here are the tips and tricks that will make your business roar on the global market.
Start by Understanding the Target Customer’s Behavior
While it is true that you might have been successful at home with your business, it does not mean that the buying culture in other regions is similar. Actually, many businesses fail because they think it will be a continuation of what they were offering back home.
Even before commissioning a new line abroad, you should start by establishing what customers want. You should also focus on giving your business an outfit that matches what clients abroad want. You could give your enterprise/ products a name that clients in the target market can easily associate with. When venturing into the Iran market, Kiri, a French cheese brand, changed the name to Kibi. In Iran, ‘Kiri’ means rotten.
Remember to continue studying consumer behavior and adjusting the operational strategy to meet their needs.
Look for Good Partners
When venturing abroad, there are many hurdles that you need to overcome. From finances to legislations, it is never easy, especially at the beginning. However, things do not always have to be this way for your brand. A simpler way to get your brand roaring ahead of others is by working with good partners.
These are people, institutions, and enterprises of goodwill that can help you to break even faster.
Think of research consultants who have helped other enterprises establish themselves in the local market. They know the best strategies and can assist you to identify and avoid the branding techniques that will not work. Besides, you should work with already established supply chain networks to inform the audience about your product. This method works very well as you do not need to build own supply chain. Good partners can help to lay the groundwork for your product as you intensify brand presence abroad.
Look at Your Brand Broadly
Now that you have decided to take the business global, it is prudent to look at it from a broader perspective.
Just like Romain Chiaramonte emphasizes, « you must take some time to think about making your brand sound big. »
Note that there are major brands already operating on the market and you can only outsmart them by looking big and smart. Take the example of Boston Chicken. When the company expanded its market, it changed to Boston Market.
When you are building a global brand, your success lies in being agile and rhyming your brand to the demands of the clients. You are going global, so look big and be big!