Are you an entrepreneur eager to expand internationally? Here’s how marketing can help

Are you an entrepreneur eager to expand internationally? Here’s how marketing can help

Time Stamp: December 8, 2023 10:45 AM
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Reaching out to customers worldwide and making a mark globally is tough for any company, especially smaller ones new to the international scene. These challenges stem from their size, newness, unfamiliar territory, and how quickly they are trying to expand globally.

So, what is the role marketing plays in the processes of internationalization? Drawing insights from a great book titled International Entrepreneurship, authored by Antonella Zucchella, Birgit Hagen, and Manuel G. Serapio (Edward Elgar) here are my three takes.

1. Understanding customers

Entrepreneurial marketing’s power lies in understanding customers deeply and finding smart, budget-friendly ways to enter and adapt to new markets. Take Airbnb, for example—they grew internationally by cleverly tapping into their existing users through innovative referral programmes. Similarly, Spotify succeeded by adapting its services to different cultures and languages swiftly.

This adaptability is pivotal. It is all about decoding what customers want and turning that into something they are eager to buy. For entrepreneurs eyeing global expansion, this ability is their most valuable asset.

2. Leveraging creativity

But there is another aspect that makes entrepreneurial marketing a key ingredient for entrepreneurs willing to expand in different markets. That is their capacity to make the most of their lack of resources by leveraging creativity to deliver something that will stick in the mind of the customer.

If I must think of something really powerful in this regard, my mind would go to Red Bull. In 1994, when the company aimed to launch its energy drink in London, the challenge was that not many people knew about it.

The team came up with a clever plan: they strategically placed empty Red Bull cans in hotspots like clubs and colleges, knowing students need energy for both studying and fun. This created the impression that everyone was into Red Bull. As a result, more folks started buying it, assuming it must be super popular since everyone else seemed to be drinking it. In the end, attention is the name of the game.

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3. Nurturing relationships

Last but not least: relationships. An entrepreneur needs to build relations to go international. However, this endeavour could become challenging in the absence of an established brand, which takes time, making relationship-building potentially a barrier to entry.

Photo by Andy Beales on Unsplash

Part of this blog post originally appeared here.

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