3 things every marketing agency needs before going global
Though marketing and advertising have absolutely evolved over the last few decades, a lot of the basics have remained the same. Consumers still buy based on emotions first, and major brands still pay big bucks to attract the attention of their consumer groups. Whether you have a marketing agency based in South Africa and want to expand or think you have what it takes to dominate the game in all of Africa, all marketing agencies have to think carefully before taking that leap. Listed below are the three main things that every marketing agency has to have in place prior to global expansion.
A profitable and growing business
You might have dreams of taking on clients outside of the local South African market, but first, that is going to require you to have a very stable company. Make sure that you have a strong foothold in the local market and have experience managing a fast-growing company. When dealing in global markets, you have to be knowledgeable and mindful of cultural differences, government regulations, banking laws, and other factors for each and every country that you expand into. Take your time gaining the trust of clients, training your staff, and understanding the nuances of marketing and advertising before you set your sights on other areas of the world.
The ability to send and receive money internationally
When you prepare to work with clients on an international basis, you have to have your company to deal with all sorts of new challenges. First, you have to be ready and willing to work with clients in different time zones, taking into account what that means when it comes to business meetings and deadlines. Then there is the constant challenge of sending money internationally. Setting up an account so your marketing agency can instantly receive money sent internationally. Make sure you use secure money transfer methods, including bank transfer, so that you can receive funding from clients just as soon as the ink is dry on the contract.
A strong plan tested strategy
Marketing experts know that no two consumer groups are the same. Consumers are often broken into categories, ranging from age and sex to the language spoken at home, occupation, or even religion. In order for your marketing campaigns to be a success in different countries, you have to find your agency’s universal language. Some of the same things are funny, endearing, or inspiring to people, regardless of where they live. Devise a solid plan so that your marketing agency can connect clients with their targeted consumer groups.
Your marketing agency will also need strong contacts in the countries you are hoping to expand into so that your transition can be smooth. Contracting with experienced advertisers in new countries might also help you to add diversity to your talent pool. Taking a company international is not only exciting for the company owner as it signals their success, but it also means that their future is as bright as can be. Be certain that your marketing agency is ready to go international and your business potential will be immeasurable.
Source: Bizcommunity
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