Despite the great benefits of local marketing, international marketing can open even more doors for the business and thus create bigger and better opportunities for expansion. International trade and marketing go together when the company aims to expand its customer base.
In addition to the arrival of new opportunities, promoting your business internationally allows you to create invaluable relationships with companies within the same industry with whom you could eventually form alliances. Also noteworthy is the extension of the scope, which allows contact with more consumers and is essential to maintaining business performance.
International trade and marketing: a beneficial relationship
When joined, international trade and global marketing give us the key to business success. International marketing has countless advantages, including advertising your product abroad can significantly enhance market expansion and build new relationships with companies worldwide.
While outreach campaigns can help improve a company’s reputation locally, to successfully attract the attention of the international market, trying to make a good brand impression across borders is essential.
How does marketing intervene in international trade?
Working the brand in the target countries helps its name cross borders and makes it easier for the products it offers to be at the top of the mind of consumers. It is impossible to achieve it in another way with the necessary agility. Traditional word of mouth would take too long.
On the contrary, applying guerrilla marketing strategies, social media marketing, or influence marketing accelerates the achievement of results. These actions complement the seller’s efforts in the store and are an extension of the distributors’ manoeuvres. Promotion on a global scale is the means that facilitates the creation of brand awareness.
What is the purpose of international business marketing?
A company trying to make itself known in a new market will also research the connection between the customs of the local population about their attitude towards the products it offers.
In this analysis, aspects such as the average per capita income will be taken into account to determine how this will affect the spending habits of potential consumers. These are all marketing issues related to international trade.
A significant advantage is that marketing can serve the purpose of a large company with a presence throughout the target country with its products and boost sales of a smaller one that can only be found locally in some regions.
Advantages of uniting international trade and marketing
Combining strategies means excellent benefits for brands. On the one hand, the return on investment in analysis, whose conclusions can guide the business plan and marketing actions. On the other hand, access to advantages such as:
- New opportunities: Although the business can find new opportunities locally, international marketing can provide even more. It is a matter of logic: the more people the message that the brand wants to send reaches, the greater and broader its reach and, if it does it well, the better its reputation. After all, a strong brand identity is paramount to building loyalty and trust and conveying stability. One of the main benefits of international marketing is business growth, which can be identified through direct competition analysis. By doing this, you better understand which products and brands in the industry are rising in popularity and why. Based on this knowledge, it is possible to identify what advantages the brand has over its competition to stay ahead.
- Market expansion: There are numerous reasons why international trade and marketing should never be separated. While there are myriad advantages to expanding your business alone, global marketing can go a long way to helping you open up your business to a large customer base, which is essential to achieving higher profit margins. Although it has not always been profitable for an SME to make this effort, today, with technology such as social networks and online advertising, it is possible to put the strategy into practice in an affordable way. Today, customers can buy from all over the world through the Internet, making the expansion of the market handy for companies anywhere on the globe.
- New relationships: By combining international trade and marketing, new sales opportunities are created, and interesting alliances can be forged that will have repercussions on cost savings, innovative potential, brand image and competitiveness.
- Brand reputation: It is a fact. Customers recognize that a brand sold in multiple markets is of higher quality and offers better service than brands that sell locally. Just think of technology companies or those in the fashion industry.
There is no better time to launch a combined international trade and marketing strategy, but doing so is essential to grow, maintain and even become a trusted reference brand among consumers.