The Five Fundamentals of International Export - Creative Word

Moving your business into a new international market comes with the prospect of an increased client base, broadening your revenue possibilities, expanding your brand exposure, and can be a rewarding and exciting time in the lifetime of your company.

With this exhilarating experience also comes new challenges or dimensions to your business that you might not have encountered before. These can include changes in language, laws and regulations, cultures, and localisation issues.

The five fundamentals below will give you a head start when planning the international expansion of your business, giving you the chance to stay ahead of the crowd.

1.    Laws and Regulations for International Markets

New territories come with different sets of laws and regulations that must be considered before trading can commence. Planning ahead and researching the protocols applicable will ensure your company stays within the law and avoids any unnecessary, costly surprises.

Some countries have unique laws regarding language requirements; for instance, the Canadian province Quebec, requires all labour dealings to abide by the Charter of the French Language, which requires all official communication by employers to be conducted in French.

Other countries have specific environmental regulations that necessitate special licences for certain business operations. Also, taxes and government levies can vary widely from country to country.

Knowing what is expected of your business, in advance of expansion, ensures you stay above the law and avoid needless problems.

2.    Localising your Website

The majority of consumers prefer to shop online in their native language. When combined with the progress of global infrastructures, localising your website has become a necessity rather than a possibility.

Localisation not only considers language alterations, but also, culture, philosophies, and local differences that make each country, and location, unique.

Elements of your website that would be affected by localisation might include; text expansion or contraction (when changing from one language to another there is often an amendment to the number and length of words which can alter layout of text), images, representations and colour use (there are varying degrees of acceptable depictions which are dependent upon locale), and also, numerical changes, such as, date formats, currency, and so on.

Advance preparation will allow you to factor localisation into your budgets, keep to deadlines, and keep your new customers happy.

3.    Localising your Marketing

Localising only your website is not enough in today’s global economy. Marketing campaigns should also be localised to communicate your message accurately, attract new clients, and expand your brand.

Social media sites, TV or radio ads, email campaigns, packaging, flyers, brochures, and so on, should all be localised to give your company the broadest marketing potential.

Depending upon the scale of your expansion, and the size of your budget, it is worth translating and localising whatever marketing materials you use. Customers will gain a clearer understanding of your products, relate to your business, and be convinced your merchandise is worth purchasing.

4.    International Business Relations

Foreign markets require different sales procedures, business relations, and communications. If you plan to market your business successfully in a new territory you must learn how to conduct business within the existing framework.

For example, when conducting business in China it is customary to get to know people before commencing business transactions, rank is extremely important, and face-to-face is the preferred method of communication. If you are conducting business with human interactions, as opposed to purely e-commerce, you should take the time to understand potential customers on their terms.

Familiarise yourself with business customs, cultural etiquette, and basic language requirements whenever possible as these make great first impressions.

5.    Money Matters

When expanding into overseas markets another fundamental matter to be considered is money. We have already established that consumers prefer to shop online in their native language but they also prefer to use a currency that is native too.

Price structures, taxes, competitor’s pricing, exchange rates, and so on, will all have a bearing on how your company regulates it’s prices, and deals with money matters.

Research will assist you in getting it right first time – make adjustments and allowances for global variations, and tailor your products and services accordingly.

International export can be a hugely rewarding, and pleasurable experience with the right knowledge, foresight, and planning.

Do your research; check localisation and translation specifics, and familiarise yourself with cultural differences to gain superior business insights for your company so that all new moves give optimum rewards.