Pushing Online Marketing for Businesses Going Global

The world watched as globalization progressed significantly over the past years, expedited by modern transportation and communication; improved infrastructure; and international trading and financing fiats defining the global rules of trade and supporting global trade capacity. In fact, a report by The Institute of Technical Education (ITE) in Singapore reveals that within a span of more than forty years, the world has seen a 1500% increase in the globalization of businesses, with two in every 6 products crossing borders as part of their international business marketing strategies.

A Business Briefing Series report by Ernst & Young cites that the trend towards global expansion is poised to continue in the years to come. The research depicts an international trading landscape that enables organizations to execute their international business marketing strategies rapidly. In addition, businesses are projected to have a strong desire to capitalize on flourishing developments in the global arena.

Efforts to geographically broaden product or service reach are facilitated by various objectives. With change being a constant business development facet, businesses are lured to go for overseas operations because larger markets can mean greater profit, and present even bigger opportunities for the expansion of an existing range of goods.

In some cases, businesses in a particular industry shift to serving overseas market to make global expansion desirable. There are companies deciding to go international that specifically target particular regions to dominate certain markets before a competitor does.

In order to achieve increased expansion and generate additional revenue, taking the business offshore might just be the answer. While potentially lucrative, the decision to expand abroad, however, can also be very costly when improperly managed from the get-go. Aided by modern technology, businesses turn to the Internet for geographic advantage and massive reach. Today, the potential internationalization of a retailer can be determined through online beginnings – communicating with customers across the globe via the World Wide Web.

Global business success with online marketing comes with it an enormous challenge. Needless to say, developing business and software strategies that can actually result in successful international business programs necessitate systematic preparation and exhaustive planning that cover the business and legal fronts. While global business expansion now a rising trend, there can be no guarantee that success in one’s own turf can be equally great in the foreign market.

For most businesses, the idea of expanding trade internationally is far from being an overnight phenomenon. It requires decision makers research, identify and recognize the impact of cultural differences, and strategize when it comes to managing the sensitive cross-cultural risk process. Companies need to practice and implement business processes that uphold adaptability, perceptiveness, cooperativeness and objectivity – all without risking self-awareness of the brand and its identity.

Crucial to the efficiency and effectiveness of business and software strategies for international business marketing is a thorough understanding of global synergies and the worldwide economies of scale that help define ways to connect with customers and collaborate with partners across borders. Increased complexities such as geographic, stakeholder, organizational and cultural complexities come into play.

What Do You Really Know About the Current Business Climate – Globally and Domestically?

They say information is power, and if you are running a business, it’s also a lot about profit too. Do you ever wonder about the real GDP, when all the data is broken down by industry? How about trade flows, trade deficits, or levels of international transactions.

Well, often I hear economists spout their opinion, as if they have a handle on all this data, but unless they have the facts, it’s all opinion to me. If you are serious about economics and international trade, and if you really care about the business cycles, then there is one publication I can totally recommend to you;

“Survey of Current Business – BEA’s Monthly Journal,” published by United States Printing Office, Bureau of Economic Analysis for the United States Department of Commerce Economics and Statistics Administration; ISSN: 0039-6222.

This publication is well worth the measly $25.00 it costs. For instance the July 2010 issue was quite telling with a number of great statistics, assessment, and data. There was a 2009 International Investment Report, and the Direct Investment Position as of 2009. Why is all this important?

Simple, when you have this data you can compare it against the stock market, commentary on CNBC financial worldwide news, the Wall Street Journal, Bloomberg, Financial Times, Investor’s Business Daily, and the Economist. Indeed, if we take this information a put it up to scrutiny of the papers and articles coming from the Harvard Business Review, Forbes, Business Week, Wharton, or even the China Economic Times, we can see patterns, and questionable commentary.

This financial, economic, currency, and trade information is very important and even critical in our current global economy. Do I ever disagree with the data in Survey of Current Business? Not often, sometimes I disagree with the assessments, but I’d have the same comments were I to read the FED’s Beige Sheet, a GAO report on Trade, or even research from the OMB, which also has something to do with politics of course.

Please consider taking this reference material if you are in a decision making or leadership capacity for an agency, NGO, GSE, or corporation.

International Business: Going Global in Today’s Economy

Going global and taking a business international has many advantages and disadvantages. Everything that is involved should be considered and discussed before such an expansion is sought.

There are several areas of communication that must be considered when business is being done internationally. Not only do people from different countries speak many different languages, there are always cultural differences that must be taken into consideration. In some locations, the act of touching another person in any way, is forbidden and may actually be taken as an insult to the natives of the country. Certain words and phrases that are acceptable and complimentary in the US are not in some other countries, even if the phrase is said in the appropriate language.

If a company is planning to do a permanent expansion into another country, they should seek to hire people from that location to handle their business for them. This often helps to get around the language and culture barriers. Finding a local to help with business matters can help the company assimilate into the new country much faster. It also helps because having someone native tell the citizens that the product or services is worthy is good advertisement. If someone local cannot be found or hired, it is imperative to do as much research as possible into the intended country’s culture and customs before commencing business.

Business executives should prepare to change some of their standard policies, if they expect to be profitable on a global scale. The exchange of money, the procedures used and policies made must all fit the typical methods used by the particular country of interest, even if they seem far different from US policies. When culture differences are detected, they must be respected and accommodated.

It is a good idea to scope out the area before expanding a business internationally. Choose the location that is most appropriate for your particular industry and visit the area to get a feel for it, if possible. A lot of the success of new expansions depends on the current need for a certain product or service in a specific area of the world. Make sure the location you want to expand to is in need of the company’s services; otherwise, it could turn out to be a huge waste of money and effort with no potential for success. This can cause enough financial stress on a company to make it close down, either temporarily or permanently.

Having a well-thought out business plan ahead of time is the best idea for any company at all, and especially one with aspirations to expand into other countries. There are many things that must be considered and designing a good expansion plan is an excellent way to cover all of them.