Uncover the secrets to budget-friendly market entry

#1 Tailor your strategy to align with the unique preferences of your target audiences

KFC faced challenges in market entry to China due to cultural differences in taste preferences. To address this issue, they adapted their menu by introducing items like the “Dragon Twister,” which featured a spicy chicken wrap with local flavours. They also redesigned their restaurant interiors to better fit local tastes, using traditional Chinese elements and brighter colours. This approach helped KFC resonate with Chinese consumers and become a popular fast-food choice.

By tailoring your marketing content to the local audience, you ensure that your messaging resonates with them, increasing the chances of engagement and conversion.

 

How can you turn cultural differences into opportunities:

• Research and understand the cultural preferences, taboos, and consumer behaviour in your target market.
• Customize your marketing strategy to resonate with the local audience.
• Collaborate with local marketing and sales teams to gain valuable insights.
• Overcome linguistic barriers by offering personalized buying experiences and translating marketing materials.
• Understand also cultural differences related to advertising design and colours. For instance, the colour white is associated with purity and innocence in Europe but in some Asian countries, it represents death. 

 

#2 Unlock the advantages of embracing a localized approach

Netflix has invested heavily in localized content and marketing efforts when expanding to new international markets. In a decade, Netflix has gone from operating exclusively in the US to over 190 countries. As of the 2020-21 period, 55% of its original content is in a language other than English. They have produced original content in various languages, such as “Money Heist” in Spain and “Squid Game” in South Korea. By partnering with local production houses and talent, they have been able to create content that resonates with local audiences, increasing their subscriber base and brand recognition in these markets.

Localizing your digital sales and marketing efforts helps you build a strong connection with your target audience by addressing their unique preferences, cultural sensitivities, and language requirements. This leads to a better overall customer experience and higher brand affinity.

 

Here’s how to connect with your audiences through localization:

• Implement localized content, campaigns, ads, landing pages, localized websites, and social media accounts to convey your marketing messaging to audiences in different countries eliminating any language barriers or misunderstandings.
• Collaborate with local influencers and partners to enhance your brand’s reach.
• Attend local events and trade shows to establish a presence in the market.
• Prioritize the translation of high-value content and focus on the most relevant languages for your target audience.
• Evaluate each site, campaign and target audience to decide if localization is indeed required or not. Concentrate on a few languages that are primarily used by your target audience in the new market. 
• Collect input from your local Customer Service and Sales on how your customers and prospects understand your advertising, products and website content, and how you should optimize them for better performance. 
• Analyze the website or landing page traffic. For instance, if your online store unexpectedly gets hundreds of new customers who prefer using German as the default language, you might need to consider localizing the site or some landing pages in German. 

 

#3 Decode competitor strategies for a winning digital sales edge

When Spotify entered the Indian market in early 2019, it faced fierce competition from well-established local and global streaming services like Gaana, JioSaavn, and Apple Music. Spotify recognized the importance of regional language music and offered a diverse range of content in various Indian languages such as Hindi, Tamil, Telugu, Punjabi, and more. Despite its late entry into a hyper-competitive market, Spotify has been able to dominate the Indian music streaming market due to its strong focus on localization. 

By learning from your competition, you can develop a more informed and effective digital marketing strategy for your market entry, enabling you to establish a strong presence in the new market and gain a competitive edge.

 

How you can learn from your competitors:

• Start by identifying the key players in the new market who target a similar audience or offer similar products or services.
• Evaluate their websites, social media profiles, and content to understand how they position themselves in the market, their unique selling points, and how they engage with their audience.
• Analyze your competitors’ keyword targeting, backlink profiles, and website structure to identify their SEO strengths and weaknesses. This can help you uncover opportunities for improving your own SEO and gaining an edge in search engine rankings.
• Examine their advertising efforts: Investigate the ad platforms your competitors use, the types of ads they run, and their targeting methods. This can help you identify the most effective channels and ad formats for reaching your target audience.
• Evaluate their content marketing. Review your competitors’ blog posts, videos, podcasts, and other content types to understand the topics they cover, the tone they use, and the quality of their content. This can inspire ideas for your own content marketing efforts and help you differentiate your brand.
• Monitor their social media engagement: Observe how your competitors interact with their audience on social media platforms. Take note of the content that generates the most engagement, the posting frequency, and the overall sentiment of their audience.
• Identify their strengths and weaknesses: Based on your analysis, pinpoint your competitors’ strengths and weaknesses. Determine the areas where you can outperform them and the gaps you need to address to become more competitive.
• Learn from their successes and failures: Pay attention to the strategies and tactics that have worked well for your competitors and those that haven’t. This can help you avoid making the same mistakes and capitalize on proven strategies.

 

#4 Embrace the rhythm of each market: acknowledging seasonal variations

Coca-Cola adjusts their marketing campaigns in various countries to align with local holidays, events, and seasonal preferences. For instance, they launched the “Share a Coke” campaign in Australia during the summer months, featuring popular local names on Coke bottles. This personalized and timely approach resonated with consumers and increased brand engagement during peak consumption periods.

 

Here’s how you can get the timing right:

• Be aware of seasonal variations in consumer behaviour and events across different markets.
• Customize your campaigns according to each market’s unique calendar of holidays, events, and cultural occasions. For instance, Mother’s Day is celebrated in March in the UK versus in May in many European countries and the USA, so you cannot run the same Mother’s Day campaign at the same time in all of these markets.
• Monitor and analyze seasonal trends to inform your marketing strategy.

 

#5 Optimize your budget: efficiently trial your initiatives in new markets

Localized digital marketing allows you to focus your advertising budget on specific regions, demographics, or customer segments, ensuring that you spend your resources where they are most likely to generate returns. Running cost-effective localized Google search advertising campaigns can be an excellent way to test your marketing efforts in new markets.

This approach allows you to test the market’s response to your product or service while simultaneously building a strong foundation with local SEO, content and localized landing pages. You can quickly gain insights into the effectiveness of your marketing efforts in new markets, identify areas for improvement, and make data-driven decisions to refine your overall digital marketing strategy.

 

Here’s how you can do it:

• Keyword Research: Begin by conducting thorough keyword research for your target market, focusing on local search terms and phrases that are relevant to your product or service. Use tools like Google Keyword Planner or SEMrush to identify high-traffic, low-competition keywords in the local language. Adapt your SEO and SEM strategy based on the target country, not just the language.
• Localized Ad Copy: Create ad copy that resonates with the local audience by using their language and addressing their unique needs and preferences. This may involve translating your existing ad copy or creating new copy tailored to the local market.
• Geo-targeting: Use Google Ads’ geo-targeting feature to display your ads only to users in your target market. This ensures that you’re spending your advertising budget on the most relevant audience.
• Landing Page Localization: Direct users who click on your ads to localized landing pages that match their language and cultural preferences. Ensure that your landing pages provide a seamless user experience, with clear calls to action and consistent messaging across the ad copy and the landing page content.
• Ad Scheduling: Take into account the time zone differences and peak online activity hours in your target market. Schedule your ads to run during these times to maximize your ad impressions and engagement.
• Monitor and Optimize: Regularly track the performance of your ads and make data-driven decisions to optimize your campaigns. Adjust your bids, ad copy, and targeting settings based on the results to improve your return on ad spend (ROAS).

 

Demonstrating your understanding of the local culture and language helps establish your brand as a reliable and trustworthy player in the new market, increasing the chances of successful market entry. By embracing localized digital marketing strategies, you can create overall cost savings while maximizing the impact of your market entry initiatives.

 

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