How to Build Your Brand Globally for Outbound Trade
April 19, 2021at11:00 PM
Taking your brand global is a massive undertaking, and one that needs careful analysis and planning to execute successfully.
In over 10 years of working closely with brands to support their new market entry and development, we’ve continually refined our understanding of what it takes to succeed in this worthwhile enterprise.
We credit our sustained success to our highly modern approach, which continues to be a unique differentiator for us within this industry.
Discover how you can establish and grow your brand globally for outbound trade, straight from the recognized experts at Eliasan Consulting.
1. Perform extensive research and analysis
Often, the most assured way of expanding into new regions is to identify conducive markets where your business can establish a foothold. To do this, you have to perform in-depth analysis of all the markets you’re considering, comparing different indicators to isolate the most favorable options.
For starters, you would need to consider:
A stable and rising GDP
An expanding middle class
Strong demand for your goods and services
The regulatory landscape
General market outlook
Trade channel complexity
Competitor tension and barriers
Careful analysis early in your planning ensures that your efforts will be directed at markets with the greatest chance of reaping results.
2. Build strategic partnerships
Chances of successfully breaking into new markets and establishing an enduring presence increase when you work with established local industry players.
Eliasan Consulting offers B2B matchmaking to connect global expansion-ready businesses with local partners. This has several key benefits that have a strong bearing on future success.
For one, it provides necessary inside knowledge needed to overcome language and cultural barriers, which, take note, always affect sales. Strategic local partnerships also serve as a source of insights for navigating shifting market conditions.
And, perhaps most importantly, they help with ideating and implementing strategies for handling competitors, who are often aggressively defensive.
Yet more, strategic partnerships make it possible to gather trade leads much quicker by tapping into partners’ networks, supply chains, and distribution channels.
We find that the strongest partnerships are those underpinned by mutual long-term strategic interests and synergies that both parties can immediately exploit.
3. Undertake media missions
This is an area where our uniquely modern approach to market entry serves clients well. With each engagement, we identify media placement opportunities to enhance clients’ brand awareness in unfamiliar markets.
Like other necessary steps in international expansion, this too carries its own complexities. It requires skilled outreach to relevant media channels, on the assumption that you’ve successfully identified the ones that offer the largest returns in the first place.
In our work, we execute and develop the entire tour. And we’re careful to keep track of and analyze various metric-based factors to quantitate the media campaign’s success.
Media missions are core to global brand expansion because they enable you to receive inbound trade leads. This adds to those you’ve gathered through building strategic partnerships.
4. Capitalize on USDA grants
Whichever approach you’re taking for your international expansion, USDA grants can accelerate your progress. Most business’ reservations spring from the fact that chances of grant awards can be slim, and there tends to be a lack of confidence about following through with implementation.
But that’s not altogether true, at least not always. There are proven methods for writing grants that inspire stakeholder confidence in your business, right until the end of the implementation phase.
In any case, with Eliasan Consulting as their global expansion partner and advisor, businesses can have the entire grant writing process and management handled by experts. We have in-depth experience with several USDA export grant programs.
Empower your business for global expansion and outbound trade with Eliasan Consulting
Global expansion can unlock your business’ full growth potential, but the path there is fraught with chances for disastrous miscalculation. We’ve helped companies overcome the common and hidden challenges of international expansion. And, of greater pride to us, we’ve helped them leverage new market entry and development opportunities unknown to most internationally expanding brands.
Partner with Eliasan Consulting to yield the full benefits of your cross-border initiatives and growth. Schedule a consultation with us today.