There comes a time when running a business when you hit a growth ceiling and can’t seem to expand any further, no matter how hard you try.
Naturally, there can be all kinds of reasons for this, but it usually indicates that you have run out of potential customers in your current market. This might be a great problem if you have enjoyed considerable success, but it is still frustrating.
One solution is to expand into new countries that could be receptive to your products or services. Although this is a tremendous challenge, it can prove immensely lucrative if you find success in a new market.
This is how to expand your company into new countries:
Post articles in different languages to widen your outreach
One of the best ways of finding traction in a new market is to produce content writing in that market’s native language. This will open up your content marketing to people who previously couldn’t read your copy or think your products were relevant to them.
Furthermore, by translating your copy into different languages, you will appeal to search engine algorithms because your new market will be searching keywords in their language. When your articles contain the same keywords in their language, you will show up in their search rankings.
SEO works no matter what market you are angling for, but if the task of optimizing your content for a different country is too much of a challenge, you could always collaborate with an expert like SEO Ibérica, who can walk you through what you need to know.
Research your target markets and work out if your brand would be a good fit
If you want your business to enter a new country, you first need to establish whether that market would buy your products.
Although it is impossible to know for sure whether you would find success in a particular market, you can certainly make a more informed decision once you have completed thorough research.
This research could include finding out which businesses already exist there within your industry, how successful they have been, and whether their products are similar or different from yours.
You could also find out whether your target buyers have similar or different problems to your current customers because it will affect how well you can solve these issues for them.
Once you have completed this research, you will have a more accurate idea of which products or services you will sell in the new country and how you will market them.
Create a logistical plan for your expansion
Expanding into a new market involves a lot of organization. You can’t just spring up in a market without previous marketing or outreach and expect to find buyers.
Instead, you need to work out your time scale for rolling out your products, how long you will advertise your brand before you officially launch there, and which products you will offer.
This will help you make the right commercial choices and prevent you from wasting money by messing up your launch.
When you enter a new country, it is almost as if you are launching your business all over again. Unless that market is already familiar with your brand, you will have to market yourself just like you did as a start-up, slowly but surely raising awareness and gaining customers one by one to start with.
Maintain a patient attitude because it will be a long process. However, if you stick with it, you may just be rewarded with considerable added revenue and brand awareness.