Expanding your brand globally can be a challenging task. It can be difficult to know where to start and how to ensure your brand's message resonates across multiple audiences. The answer lies in an international marketing strategy, which can help your business achieve global success.
In this article, we'll explore what is international marketing and guide you on how to tap into global growth opportunities.
Keep reading to learn how to gain an international audience!
International marketing is the process of promoting and selling products or services to a global customer base. It involves tailoring offerings to meet the varied needs, preferences, and language differences of target audiences around the world.
International brands may adjust their messaging, product features, and distribution channels to match local practices. By doing so, they can effectively grow foreign operations, build global brand recognition, and achieve international marketing success.
Unlike domestic marketing, an international marketing campaign caters to the unique needs, preferences, cultural nuances, and regulations of diverse international markets.
Here's an overview of the differences between international and local marketing:
Characteristics of international marketing can include a wide range of different practices to meet the needs of global customers.
International marketing characteristics can include:
When a business aims to expand to other countries, it typically takes the first steps of exporting and licensing among the various types of international marketing available.
So, let’s explore the different types of international marketing and what they include!
One of the main ways a business can expand internationally is by exporting its products and services to other countries. This type of international marketing is less risky than others and has less impact on the business’s human resources management. There are two ways businesses can export: directly or indirectly.
Direct exporting doesn’t require third-party involvement, as the company sells its products directly to intended customers. In indirect exporting, a business promotes its products or services in foreign countries with the help of international distributors and sales agents.
Ideal For: Companies looking to test the waters of international expansion with minimal risk and investment.
Another type of international marketing is licensing, an agreement between two enterprises. In this agreement, a company called a licensor allows a foreign firm to use its intellectual property (copyrights, patents, manufacturing processes, or trade names) for a specific period, getting royalties in return for granting this right.
Ideal For: Businesses with valuable intellectual property who want to expand into large markets without significant capital investment.
Franchising is similar to licensing, as a parent company allows a foreign firm to use its name to do business in a foreign country. However, in this case, the guidelines that the foreign firm has to follow are stricter.
Generally speaking, manufacturers commonly use licensing to expand globally, while service enterprises, like hotels and restaurants, use franchising. A strong brand that can be recognized globally is the key to a successful franchising strategy.
Ideal For: Service-oriented businesses with a strong brand and replicable business model.
In a Joint Venture, two companies from different countries form a partnership, which is equally beneficial for both parties. One of the main characteristics of joint ventures is that the risk is shared between the two enterprises while both contribute assets.
While all the companies involved in a joint venture function independently, their collaboration can increase profits, eliminating risks.
Ideal For: Businesses seeking local market knowledge, shared risk, and access to new resources.
In Foreign Direct Investment (FDI), a company purchases a fixed asset in a foreign country to manufacture a product or service abroad, intending to establish a lasting interest.
The difference between joint ventures and foreign direct investment is that in the latter, the foreign business fully owns the subsidiary and has total control over decision-making.
Ideal For: Large businesses seeking long-term control and significant involvement in a foreign market.
A well-executed international marketing strategy has several benefits that can help businesses expand in global markets and increase their profits. Here are some of the advantages of international marketing:
While multilingual marketing can bring numerous advantages to businesses, it also poses significant challenges. These can include:
Businesses worldwide have adopted international branding strategies that enable them to establish a strong presence in foreign markets. By investing in effective multilingual campaigns, they successfully expand their reach and tap into new markets.
Here are a few great examples of great international marketing strategies in action:
Airbnb, a platform that connects hosts with guests worldwide, invests in international marketing strategies to grow its footing despite challenges like international lockdowns during the pandemic.
Using videos and photos of real guests, it created a campaign based on user-generated content, harnessing the power of Social Media across different platforms and regions to engage with global audiences.
The famous Austrian energy drink company implements a multilingual campaign, organizing extreme sports events in several countries worldwide.
Also, the design of its cans, shape, logo, and colors make Red Bull recognizable globally, helping it stand out from the competition.
One of the secrets behind Domino’s successful international marketing strategy is that it has localized its menu to match the tastes and preferences of customers in different countries.
More specifically, it offers different pizza toppings from market to market, proving that it understands every country’s food culture and aligns with it.
World Wildlife Fund (WWF) is a non-profit organization with a global presence and offices in almost every part of the world.
With its Earth Hour Initiative, WWF aims to raise awareness about climate change and achieve brand recognition, inviting people around the globe to participate by turning their lights off for an hour.
Now that you know everything about international marketing, you may want to implement it to expand in the global market. So, here are some steps you can follow to craft a winning international marketing strategy:
International marketing enables global expansion, allowing companies to target customers in new markets, reach a wider audience, increase profits, and create a globally recognizable brand.
At Transifex, we help you create a successful international business and reach global audiences by offering human-quality content!
The key to successful international marketing lies in a combination of in-depth market understanding and strategic localization. Businesses must thoroughly research and analyze the cultural nuances, linguistic complexities, consumer preferences, and regulatory framework of each target market. This knowledge is the backbone of crafting campaigns that resonate with diverse audiences.
For seamless localization, partnering with the right technology is essential. This is where Transifex excels, offering a range of powerful features to streamline and optimize the process:
By combining deep market insights with Transifex's robust localization capabilities, businesses can create successful global marketing campaigns that authentically connect with audiences worldwide.
Transifex’s AI-powered localization hub helps you create and deliver consistent, culturally adapted content across any language and location.
Sign up for a free trial today and engage the world with the power of AI.