Practicality, localization, multi-lingualism - secrets of successful business promotion abroad

Let's say you have a cool idea that can bring in huge profits in the long run, especially if you enter the European or the American markets. Or you have successfully worked in Russia for several years now and have decided to scale up abroad. An excellent plan and a praiseworthy desire in terms of earnings! But you certainly realize that promotion of your product or service in a foreign market is sure to have its own specifics, don’t you?

Different countries are like different worlds - with a very different audience, different perceptions, different working and active promotion channels. Do you still want to expand not only the formal, but also the geographical boundaries of you business? Then we suggest you find out what you should focus on, what to pay keen attention to and what pitfalls your company can suffer abroad.

The European market's important features

1. The bilingual approach is a major difference between Russia and Europe, so you will have to present any idea in at least two languages: the national one and English. For example, if you plan to create commercials or banners intended for different countries, be sure to spend time and effort to get them translated into different languages. And make sure they are edited by native speakers of those languages! The shortest list of languages required includes English, French, Spanish, and German, so don't focus exclusively on the countries and regions that use only English.

2. Focus on benefits and practicality. If, for example, most Russians compare the prices when choosing a product, the European buyers usually trust the prices that they see. They are, by far, more interested in how lucrative the buy is in terms of the benefits your product will bring and how much money, time and effort they will save in future, if they invest in the purchase now.

3. TV and the press advertising. There is no single channel in Europe and America, like Channel One in Russia, where you can launch advertising to reach out nearly an entire country. Television, like the press, is localized in Western countries, so advertising should vary depending on the region. Your success directly depends on your right choice of the region and understanding its needs and specific features.

4. Digital habits. The most popular social networks in Russia are VKontakte and Instagram, while the Europeans are immersed in the Facebook. Accordingly, the main advertising stream should be concentrated around this social network, as well as YouTube - as the future of Internet advertising belongs to it, with video content usage rising over the last few years. Audio advertising in podcasts and streaming music services also enjoy huge outreach today - this market is expected to be worth €1billion by 2023. Just think, even the UK government has used Spotify advertising to inform its citizens about Brexit!

A few tips to get you started

Of course, understanding the peculiarities of the Western market is not enough. If you already have experience in running a business, then, given its adaptation to foreign conditions, you are likely to fare well in the new chapter of your company's history. But what should others do, those who are just starting their journey, but set their sights on Europe from the outset? You are likely to face many challenging moments and take difficult decisions, which is perfectly normal. Mistakes and problems are an inevitable part of your entrepreneurial activity, but you can cushion the blows a little bit by taking into account some of our advice.

1. Start an office in Europe, as soon as you have a chance. Let it be a small leased space at first - importantly, international partners are more inclined to collaborate with Europe-based companies.
2. Do not overlook the connections. If you have somebody to "piggy-back" on, don't miss the opportunity. It is better to start a business abroad, when you have already found a foreign investor or an interested buyer.
3. Build your relationship on trust, show your personal commitment to the core idea of your brand and articulate why it should be close to your potential client. If you win someone else's goodwill, other interested parties will also join in. A modern consumer doesn't go away just like that: he or she gives comments, advice and sends feedback.
4. Develop a financial plan before you enter a market. As you know, you need to invest a lot in order to get a lot. To avoid any challenges related to a lack of funding, analyse this matter in advance very carefully.
5. Participate in exhibitions and panel discussions. The more visible you are in your industry, the more likely potential partners and large companies are to notice you. Be smart about every single event: learn from the experience of previous events and analyse in advance where, how and what can get the participants of upcoming events interested in your business offer.

A mistake worth a business

You will not be the first entrepreneur in history, of course, to decide to expand or start a business abroad. But believe me, this only plays into your hands, because all your potential mistakes have already been made by someone else. All that remains for you is to draw on someone else's experience for your own good. Here are some most common mistakes that should be avoided.

1. Trying to do everything at once and forever. Many companies strive to create a clear-cut formalised brand to be used for centuries, although this is not always the best approach. The highly flexible today's market is changing rapidly with the buyers, their needs and interests following in its footsteps. A company interested in prosperity will follow the leading trends; it will remain popular and enjoy continued demand for its products. Change is a normal thing in business, especially when it comes to startups. Don't try to design a fixed "jumbo" right away - it won't be of much value.

2. Poor knowledge of your audience. To become a success, you have to have your buyer's detailed profile. Before you start a business, no matter in what country, you need to do an in-depth analysis of the market and the audience. This will enable you to understand who and in what way you will try to attract utmost attention.

3. Inappropriate budget allocation. There are two entirely different approaches to the issue. The first one is a sincere hope for a sharp increase, driven by sky-high investments. It is likely to occur, but such growth will probably last for a few weeks at the most and will not pay off in the long run. At the same time, the company will no longer have funds for advertising or the product itself, and the business will simply die. The second one involves excessive savings and the use of exclusively free-of-charge promotion means. It reality, it is virtually impossible to achieve success without at least minimal investment in advertising. Social networks and skilful PR will attract attention to you products and services, of course, but it is not enough for a long-term success.

4. Blind faith in SMM. An attempt to concentrate all your income around one source is a bad idea in principle, and even, given the popularity of social networks, they are not enough. It is great for your brand to have a beautiful and informative Facebook page, but without other promotion channels, it will be short-lived.

5. Failure to delegate responsibilities and attempts to do everything yourself. Some ambitious entrepreneurs, unfortunately, suffer from a perfectionist's syndrome - they try to control every detail, instead of delegating writing, drawing pictures and other small tasks to other employees. Alas, such active intervention only slows down the process: no one can be competent in everything.

6. Entering the market with a non-performing product. This is, perhaps, the most frustrating situation one can face. In order to prevent it, analyse everything very carefully, as you don't want to spend a lot of money on advertising and attracting customers to suddenly find, on the launch day, that the order placement breaks down when the address is entered. Be sure to test your product, check if everything works the way it should, and do not spend your entire advertising budget in one go. Run the alpha version first to promptly identify all the shortcomings, and only then enter the market.

There are a million situations in business where something can go wrong. Should you get upset about them? No! Don't be afraid to take risks, just be smart and everything will work out.