Marketing products and services abroad requires many things, but organizational size isn’t necessarily one of them. In fact, smaller companies are often more nimble and adaptable than their larger counterparts, which sometimes allows them go toe to toe with the big boys in the global marketplace.

However, both large and small companies face similar difficulties in creating product awareness when marketing in foreign countries. Sound knowledge of international markets is critical to successfully launching an export business. And strategic planning, an essential element in any close-to-home marketing effort, is mission-critical when competing in brave new worlds.

Reliable research required

Conducting thorough market research is a must for any international endeavor. Before committing to the idea of exporting, companies should prudently assess the foreign market’s potential and clearly identify and evaluate their target markets. Strong, detailed research can help determine customer needs, predict the demand for products or services, and establish suitable pricing structures. By developing an understanding of likely customer segments, an organization can create a plan to reach them.

Any organization’s research effort should provide insights into the competitive landscape abroad, the differing structures of foreign industries, and potential obstacles that lie in wait. Thorough research should also reveal whether changes are needed to make goods more marketable, and it should steer your organization to international resources and alliances for greater assistance. These can include in-country distributors, marketing firms, and advertising agencies.

Market entry strategy

Ultimate success hinges on developing a sound international marketing plan based on the assessments conducted and the organization’s readiness. A good marketing plan helps companies create clear objectives, identify constraints, and implement a timetable with checkpoints to gauge success.

Keep in mind that an international marketing plan must be expressly tailored to each target market abroad. Laws, languages, customs, customers, media opportunities, and distribution outlets vary widely among countries, so each market will require a distinct marketing plan. Thorough plans can even vary by locale and region within countries. The greater the localization that exists, the greater the adaptation required, and the more explicit the plan must be.

Customizing marketing activities and promotions is another key to success.  Local culture and industry regulations must be considered in the earliest stages of development. For instance, knowing early on that a product name does not translate well, that the imagery used in packaging is culturally offensive to a foreign market, or that advertising to children is prohibited can save tremendous time and money up front.

Many companies avoid these and other common marketing pitfalls by working with an in-country agency or distributor to guide them through cultural differences and legal guidelines. In some countries, such partnerships are required.

To multiply the effectiveness of any international marketing plan, it’s important to exploit the power of e-commerce applications. (After all, there’s a reason it’s called the World Wide Web). Using the Internet is a smart way to market to international customers or sell directly to them, and companies should include the development of an accurate, well-translated web presence in their marketing plans.

Finally, any overseas strategy should include the pursuit of intellectual property protection. Companies that plan to export should seek legal counsel regarding trademark, copyright, or patent protections in the markets they intend to pursue.

An investment in time

Conducting detailed International market research and developing a marketing plan for entry takes time. But no company should go abroad without fully understanding the target market and recognizing the resources, adaptations, and overall strategy needed to reach it.