At the end of the world crisis, a lot of companies, especially e-commerce, have entered new markets. Once they are present online, they start thinking about internationalizing their business. But to do it, first, it is important to know how to do it.
To convert your e-commerce in international business, you need to keep in mind two basics. In the first place, you should know what the requirements are to internationalize a company, and then what are the specific needs of e-commerce during the internationalization process.
Internationalization of eCommerce: what you need to know
No matter if it is a physical shop or e-commerce before you start to plunge into the world you need to keep in mind different factors. The internationalization represents the same challenge for all companies which prepare themselves to gain the best results. What should you do to minimize the risk?
Analyze the export potential
What are the strengths and weaknesses of your products? What are the elements that differentiate you from the others? What resources can you use in the internationalization process?
Get to know the market
Let’s be honest. You cannot cover all the external market. It is essential to recollect as much information about the countries you would like to operate in as it is possible. Analyze their tastes, customs, consumption habits, and future tendencies. You will also need to know the standards and common practices in the market since your product might not be selling well in some countries. For that reasons, to choose wisely, it is necessary to know the market in its entirety.
Analyze your competitors
A critical factor of your decision will be the local and foreign competence you will meet in the market you want to join, and you should not neglect it. If there is no place for your company in the market, you should look for another country where you can find real opportunities.
Adapt to the selected market.
No matter what market you have chosen and what type of company you are, adapting the products is essential to succeed abroad. In the business world, the similarities between companies are not well accepted. Moreover, the audience will not have the same needs and lifestyle in Africa as in China. Thus, you will have to adjust your products or services to the market and differentiate from your competitors at the same time.
Define your market entry strategy
At the moment of exporting your business, you will have to choose between different options: controlled, outsourced, concerted export, etc. There is no doubt that the internationalization of e-commerce is much easier than of a physical shop. Thus, it is your responsibility to make decisions that suit better your company, your employees, and you.
Have the necessary resources.
How much money you will need, and who will you need? Some of the internationalization processes require a whole team to make it possible, while in others, one person can be enough. What you can be sure about, is that you will need someone who can speak the local language, and it is also recommended to count on a local partner, collaborator or expert. It will help you to avoid legal problems or cultural misunderstandings.
Join in the most innovative communication technologies
If you want to expand to new markets without leaving your country, you will need a way to stay in touch with your customers. Of course, you can contact them via email, but it might not be enough. With the help of the international virtual phone number, you can provide your clients with the well-known local number. You can even connect it you the virtual call center, and manage your customer service from wherever you want.
The Internationalization of eCommerce
Besides the basics, that all companies need to know, online businesses should keep in mind other particularities. To optimize your e-commerce internationalization, you need to know some points, especially the ones related to digital marketing.
Different marketing strategies for different countries
The secret of those electronic businesses that have succeeded in many different countries lies in their local marketing strategy. Each country has its own database, blog, display and SEM campaign, Social Media, etc. Everything should be designed for only one country. The more personalized the marketing strategy, the customers will feel closer to your e-commerce, and consequently, the higher the probability they will become your clients.
Local domain for a local image
Acquiring a local domain will not only offer you a local image, close to your public but also will optimize your positioning in search engines such as Google. And remember to adjust your website to the local language, and it not only means translating. If you, for example, want to start operating in Great Britain, although they speak the same language, there are a lot of differences between American and British English. And do not forget doing the same on your Social Media. You should go even further and personalize your content as much as possible, creating different posts for different markets.
The adapted purchase and transport process
Not every country has the same legal and monetary systems. For that reason, it is crucial to offer different payments options with all the relative details (currency, exchange rate, VAT, etc.) For example, PayPal is not available everywhere, and in some cultures, the wire transfer is more welcome.
Another important point to consider is the transport. You need to research very carefully what requirements you need to meet to be able to export your product, and analyze what type of transport will suit better your product.
Measurement and analysis of results by country
Once you are present in several countries, thanks to the adaptation of different strategies, it makes sense to measure the results of the countries independently. Then you analyze them to make decisions about the future evolution of strategies. What country is more profitable? Why? What page has more visits? Where should you invest more and where less? What should you improve in your e-commerce?
Following all these tips will surely lead you to the right path, but you still have a lot of work to do to promote your e-commerce in the world. The last advice you can get is: always keep improving, so your target audience will discover that your online business is perfect for them.