Fredric Jameson’s Cultures of Globalisation is a book that helps you to dive into the contemporary process of the global expansion of businesses and politics related to the same. Not only this book is a masterpiece that adds to our knowledge with the help of rich data it provides you with it is also a book that will help you understand how to expand an online business keeping in mind the political, economic, and cultural implications.
We are proud of you for finally deciding to take your business overseas. International expansion is not for the fainthearted. This is a crucial step towards the growth of your business and also towards building the brand identity. But you cannot afford to make even a single slip or else your business reputation will be compromised. So what are we waiting for? Let’s dig deeper and find the secrets to how to expand an online business.
Things to consider before expansion
There are four significant things you want to consider prior to making the initial moves towards global expansion of your business or before wondering how to expand an online business:
- lawful obstructions
- government strategies
- business cases.
To begin with, check out your own way of life and the way of life in the business sectors where you might want to grow. Does the service or product you are offering added value to the life of locals or neighborhood markets? Have you had a chance to know about individuals living locally and understand them?
Then, check out the trade and administrative barriers you may have to face during your expansion. Will your business work inside neighborhood laws and guidelines? Do you have a legitimate group set up that can audit and recognize potential boundaries you could experience?
Neighborhood government strategies are another test you might wind up looking at during your expansion. What are the cash trade rates? Would you be able to get close enough to the vital assets and materials in your new region, or will you really want to source these from somewhere else? Are there any insurance policies for businesses that you should know about?
At long last, think about your business and answer the problem statements. Is your business fit for reacting emphatically to the difficulties of global extension? Before you take that jump, consider performing market and monetary feasibility studies to guarantee you’re prepared to handle any difficulties that may cross your path.
Most of all, are you sure you would be able to manage your business projects remotely.
If you have considered all these situations and the answers are positive then it is time to move ahead and look into our checklist for global expansion.
How to expand an online business
Research your market
It’s fundamental to get your research done. Know who your worldwide customers will be, what they purchase, and how they shop.
Accumulate market insight by checking out your present internal data to check whether you as of now have some global purchasers or not. Assuming that you have international customers, lead statistical surveying in those places and consider testing things where you have had achievement, even if it’s a small one, it is your spot to start. Use research tools that are accessible from government offices or simply available online. These tools help you with finding the business sectors that are generally compatible with your items, foster valuing methodologies, and other significant errands.
Hire international staff
As a component of the worldwide go-to-market, it’s significant you employ high-esteem colleagues. You might need to hire your staff from a site like Upwork or Fiverr to get worldwide help administrations for those days when you might be having problems in your home country. You wouldn’t want your business to be on hold at other places if you are facing any problems in your nation. Or on the other hand, you might require a translater to make things easier.
Do whatever it will take to support your business. To keep up with similar brand standards you have in your nation of origin, make a point to have those set up before running a global mission.
Online platforms like Upwork and Fiverr have extraordinary specialists on the stage, however, you might have to work with a couple before you observe the consultant that works best with you and your business. It is the hit and trails that will finally land you the right team for your business.
But this does not end here, you know this will be a remote team so you will also need to find ways to keep your remote team connected.
Additionally, nearshore it staffing can be advantageous, as it allows you to hire skilled IT professionals from neighboring countries or regions with similar time zones and cultural affinities. Certainly, this approach offers advantages such as easier collaboration, effective communication, and potential cost savings. So, by leveraging such services, you can tap into a pool of skilled professionals who can contribute to your business’s success.
Besides hiring international staff, you can also consider becoming a franchisor by converting your business into a franhise model. Businesses like McDonald have managed to expand globally with the franchising model of expansion.
Curate liked-by-all content
Before curating content you must see what kind of people it is going to reach, how will it be interpreted by them, and so on. See to it that who finds your site, and give them content that accommodates their hunt objectives while staying true to your products and values.
The key is to be adaptable with your content so it appeals to individuals from one side of the planet to the other. Analysis of the trends will help you with figuring out where to target markets for promotion crusades in which content can be exceptional for various nations. For instance, according to studies adding a video to your website’s landing page can boost your conversion rate up to 80%. Then you must take this into consideration and make significant changes to your landing page in terms of copy, graphics, including usage of colors, fonts, and background color adjustments in images, and overall elements consisting your page. Your content should be rich in a way that it is interpreted the same way in different cultures.
Add different payment options
You need to explore different payment options for accepting installments from worldwide clients. This is significant in light of the fact that the checkout page is the place where international clients are probably going to leave their shopping carts hanging because they did not find their desired mode of payment or the one which is most accepted in their region. You will probably need to do research to decide the favored strategy for every country.
You ought to similarly think about utilizing a global payment mode provider. There are numerous legitimate worldwide suppliers who will permit you to list your items in various monetary standards and save money on cash trades.
An efficient transportation process is the foundation of an online business. Especially when it comes to global expansion. Having an efficient shipping system that will help you in sending products to the customers within the desired time limit is what will result in the success of your international expansion. Transporting rates for global shipping can be costly. But if you understand the process of picking up and dispatching and choose the right courier services then you can ship early as well as make a decent overall revenue. Delivering businesses like Easyship can assist you with resolving this issue.
A solid marketing plan
Imagine this, you are an India-based company that has expanded itself to other nations including Japan. Your website is both in English language considering it is one of the most spoken languages in the world. But do you think you will be able to flourish in Japan where only up to 30% of people speak English at any level? I am sure you already have the answer.
Well, if language can be a barrier in one such advanced country then it can be an obstacle for your growth in other countries as well. Thus you need a solid marketing plan that caters to such needs of language, cultural expectations, and so on as per different countries. A different game plan for every different country.
24*7 customer service
Another problem you might confront while trying to expand a small business is giving impeccable support to customers across the world. Because of time contrasts and language obstructions, giving day in and day out client support in neighborhood dialects might be troublesome. Luckily, you have cloud telephony to cover for you.
Cloud telephony, including call center software, is a solution that connects telephone lines through the Internet. You do not need any wiring system or any infrastructure to install it. What’s even better is that it makes you available for your customers 24*7. You will never miss a call from any customer.
Solutions like the IVR system can help you deal with customers in their native language by making preset responses. Customers will be able to help themselves unless their problem needs to be addressed by the agents.
The toll-free business number on the other hand will help your customers save huge costs on international calls. They will be able to call your customer service for free anytime and from anywhere.
The bottom Line
Going global is a bold choice and many businesses are reluctant to take this leap only because they are not well prepared for it. Any business can go international regardless of its size. What matters is if you are ready to face what’s coming or not, or if your business can handle the international expansion. An online business has an edge as customers look at your products and avail of your services while sitting in the comfort of their houses. Make use of this advantage take a leap of faith, and utilize the above-given tips if you are wondering how to expand an online business.