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How To Market Your Business In Many Countries

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Going on the global market is a huge step for every business. This process requires lots of resources and careful planning. If you want to market your company abroad, you must be ready to face cultural, economic and legal challenges. Here are some basic things to consider before advertising your company in a different country.

More Insight into Different Cultures

Selling a product abroad means adapting to a different market. You need to act cautiously and be well documented. Your research should start with a common-sense argument: the country’s culture. How much do you know about the foreign markets you target? Each public has its own peculiarities that are triggered by collective mentalities. The way you market your services and how you conduct business are tightly connected to your own cultural stereotypes.

You shouldn’t expect foreign investors or customers to adhere to your logic. It’s better to be prepared before misunderstandings and confusion strike. Try to adapt to their needs and anticipate their moves. Several simple techniques will help you understand their culture better:

  • Read more about their culture
  • Try to learn some basic phrases and idioms
  • Read the local news
  • Find relevant marketing research based on this audience and their purchasing habits

Not learning enough about your prospects adds to common marketing mistakes you should avoid.

Learn More About the Prices

Before you decide which markets worth investing in, you need to make a cost-revenue prediction. You don’t just want to increase brand awareness; you also want to increase your profits. This means you need an accurate market research that would point out the purchase tendencies in the countries you prospect. Gather as much information as you can about the prices your competitors set for similar products. Get used to express these amounts directly in the country’s currency.

You will need to form this habit for every foreign market you launch your products on. While you learn more about these aspects, also take into account your negotiation techniques. You will need to adjust them according to the cultural stereotypes of this country. Before you meet with any foreigner investor, make sure you are aware of the basic common sense rules in that country.

Get Information about National Laws

The laws that regulate that foreign market should not be new to you. It would be a shame to get everything done, logistics, distribution, etc. and stumble upon legal impediments. Your products will be subject to different laws than those you are already familiar with. You should gather insightful information about substances regulations, packaging rules and safety standards.

The advertising laws will also differ. Your products might require additional evaluation and acknowledgment. You should also know what kind of approvals are necessary to be able to market your items in that country. Online advertising is not less rigorous, so do your homework before you proceed.

Sales strategies should also be adapted to the local laws. It’s vital to have the necessary approvals before you launch any campaign. Otherwise, you might be subjected to penalties.

Find a Local Distributor

Finding a trustworthy distributor is another central point on your to-do list. Before you market, you must make sure you can distribute, so choose someone to work with. A foreign distributor knows the market better than anyone else. You can sell your products to this company and allow them to proceed with the rest of the sales cycle. Distributors can ease your work and place your products on the market efficiently.

They are usually used to negotiate with foreign businesses, so you won’t need to worry so much about intercultural comprehension. Another big plus in working with distributors is that you get to sell large amounts of products at once. These people can also provide you first-hand tips and techniques that will help you grasps a better understanding of your targeted niche.

Adapt Your Online Content

If you want to go beyond your borders, you have to implement clever marketing strategies online and offline. Your site must be translated into the languages of the new market’s you prospect. Mae sure you work with reliable, preferably native translators. The content needs to be translated into those foreign languages but also adapted.

Many idioms simply don’t have a correspondent in the target language. You might need to give up those paragraphs or replace them with other suitable text. Another important rule is to adapt the images. Some nations might consider certain images offensive. Consult with a native before you update the content of your website.

Moreover, your marketing content should always be adapted to your target audience. Whatever you post on social media or magazines has to make sense for your audience. Certain jokes or puns can seem irrelevant or nonsense. Avoid them with the help of a local consultant or marketer.

There are plenty other things to consider before you expand your business. What we pointed out in this article are only the basics. Start handling these aspects. The next steps and necessities will be triggered automatically.

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About the Author

This article was written by Dwayne Weiser. Dwayne is a programmer with a great interest in marketing. He thinks he can combine his two passions while working for Login Wizard as an editor.

Callum Connects

Agnes Yee, Legal & Compliance Recruiter of Space Executive

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Agnes Yee started Space Executive in Singapore, which is a hub for businesses in some of the world’s fastest growing economies.

What’s your story?
After graduation, I joined a design media company as a Business Development Executive, during the era when ‘reading a magazine online’ was unheard of. I believe that laid the foundation for being unfazed by rejections.

I fell into recruitment pre-GFC and rode the highs and lows in the early years. A decade later, I decided to set up my own recruitment company, partly because I could. I’m acutely aware of the face that being an Asian female in Singapore is sometimes a privilege, and that many women in the world are living a very different existence.
Thereafter, we joined Space Executive as part of a merger. I am currently the Partner of Space Executive, a recruitment company focused specialist disciplines, including Legal, Finance, Digital, Sales and Marketing and Change. We also run Space Ventures, a venture capital business, which invests in seed and pre-series A businesses.

What excites you most about your industry?
On a daily basis, we’re influencing how one spends a third of their day. It is interesting how the Internet has transformed the industry, and I’m excited to see how we can harness technology to bring us to the next phase of this business.

The VC is an extension of applying our skills and experience in reading people. We very much invest in the people as much as the idea. Being a native Singaporean, it’s been exhilarating watching Southeast Asia becoming a hotbed of ideas; and young entrepreneurs simply daring to dream.

What’s your connection to Asia?
I’m a born and bred Singaporean. I love that I speak both English and Mandarin, grew up playing with Indian friends and eating Malay food.

Favourite city in Asia for business and why?
Singapore for the low barriers of entry to set up a business, but has to be China (and Hong Kong) for their hunger and constant innovation.

What’s the best piece of advice you ever received?
青春不要留白 which translates to ‘Don’t waste your youth.’

Who inspires you?
Anyone who has gone against the grain.

What have you just learnt recently that blew you away?
It wasn’t recent but reading the article on https://waitbutwhy.com/2015/12/the-tail-end.html never fails to blow my mind how little time we have left. Charting our lives in weeks, and realising I only have enough time left to enjoy 60 Christmas turkeys, read 300 books (all if I’m lucky); and mostly, I’m left with the last 5% of the time that I spend in-person with my parents.

If you had your time again, what would you do differently?
I’m cognisant that every decision I made in life has brought me to where I am today, and I wouldn’t change one thing. But I’d really like to have had more time to travel.

How do you unwind?
Exercise and wine.

Favourite Asian destination for relaxation? Why?
Trekking any mountain in Asia. It brings us back to the most basic. To overcome elements of nature and our own mind.

Everyone in business should read this book:
Start with Why, Simon Sinek

Shameless plug for your business:
Space Executive started in Singapore, a hub for businesses in some of the world’s fastest growing economies. We assist organisations in accessing a targeted and specialised, and often times transient talent pool.

Out of Singapore, we have recruited across 14 countries; and have embarked on our global expansion plans with offices in Hong Kong and London this year, and US, Japan and Europe in the following years.

Space Ventures provides funding, management and financial guidance to young businesses with original ideas. We have invested in peer to peer lending platforms, credit scoring, social media education, and other start-ups spanning diverse industries. We are always interested in hearing more about new ideas.

How can people connect with you?
https://www.linkedin.com/in/agnesyee/

This interview is part of the ‘Callum Connect’ series of more than 500 interviews

Callum Laing is an entrepreneur and investor based in Singapore. He has previously started, built and sold half a dozen businesses and is now a Partner at Unity-Group Private Equity and Co-Founder of The Marketing Group PLC. He is the author two best selling books ‘Progressive Partnerships’ and ‘Agglomerate’.

Connect with Callum here:
twitter.com/laingcallum
linkedin.com/in/callumlaing
Download free copies of his books here: www.callumlaing.com

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Callum Connects

Chrystie Dao-Szabo, Founder of iPayMy

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Chrystie Dao-Szabo founded iPaymy for Business – a secure and easy to use
platform enabling SMEs to pay rent, salaries, invoices, and even corporate tax using the credit cards they already have in their wallet today.

What’s your story?
I’m Chrystie Dao-Szabo, and I’ve worked as an international banker for over 22 years. During that time, I travelled through Asia, Australia and Europe, and everywhere I saw how my clients struggled with managing their finances and keeping cash around.

I wanted to use my experience to help them, but I also knew the solution they needed didn’t exist yet. This pushed me to give up on my secure career, and instead look into the innovative world of FinTech for an answer.

This is how I founded iPaymy – at its launch, a platform to help consumers pay their monthly expenses using their credit cards. We’ve grown a lot since, and today, iPaymy for Business is a platform that allows business owners to use their credit cards to pay for rent, salaries, invoices and taxes, freeing up their cash for business-critical operations.

What excites you most about your industry?
What excites me most about FinTech is it’s culture of constant disruption, thanks to cool and innovative products and services coming out every day.

What’s your connection to Asia?
I was born in Vietnam, grew up in Australia and worked in Asia, Europe and Australia. Being raised by traditional Vietnamese parents meant that deep down I was still an Asian at heart, so I have a strong connection with the region.

Favourite city in Asia for business and why?
Singapore of course. It’s easy to do business, English is the main language, and the infrastructures like public transportation are great. Also, the government supports local innovation in multiple ways, like giving grants for SMEs and FinTechs.

What’s the best piece of advice you ever received?
Keep giving, and one day you will receive.

Who inspires you?
My parents. My father had a successful business in Vietnam just before the fall of Saigon in 1975. After the war, my father was sent to a re-education camp for three years, which meant my mum had to bring up two young kids – a 3-year-old, me and my 4-year old brother on her own.

In 1980, we all fled Vietnam on a boat and arrived in Sydney, Australia via refugee camps in Indonesia and Singapore. There, my parents had to start over with nothing to their names and only AUD 50 given to them by the Australian government.
They went on to build several businesses in Australia!

What have you just learnt recently that blew you away?
The number of young and smart people who have carved out successful careers by founding their own startups (or joining really cool ones). When I was starting out my career, doing any of these was not a viable option; it was either working for an accounting firm, an insurance company or a bank.

If you had your time again, what would you do differently?
If I were starting out my career now, I would choose the path of joining a startup as you get to learn so much about running a business and how to assemble a winning team.

How do you unwind?
I like travelling to a beach or a resort destination and just relaxing by the pool or beach. I also like to unwind after work with a glass of champagne or wine, and a bowl of truffle fries.

Favourite Asian destination for relaxation? Why?
Thailand. I love the people and the spicy Thai food.

Everyone in business should read this book:
The E-Myth. It’s a book series that dismantles common myths about entrepreneurship in different industries.

Shameless plug for your business:
With iPaymy for Business, SMEs can pay rent, salaries, invoices, and even corporate tax using the credit cards they already have in their wallet today. SMEs love iPaymy because it works like a credit card, but pays like cash.

iPaymy’s secure and easy to use platform reliably delivers payments to vendors while freeing up cash and providing access to interest free credit. Forget the delays and aggravations that come with traditional SME financing options. Schedule recurring payments, manage invoices, set payment reminders, and monitor payment status all from one dashboard.

It’s never been easier for SMEs to meet monthly payment obligations while keeping cash available to fuel growth, bridge receivable gaps, and make immediate investment in the supplies, services, and expertise needed to drive a growing business forward.

How can people connect with you?
You can find me on LinkedIn or contact me by email.
My LinkedIn: https://www.linkedin.com/in/chrystiedaoszabo/
My email: [email protected]

Twitter handle?
https://twitter.com/ceedeees

This interview is part of the ‘Callum Connect’ series of more than 500 interviews

Callum Laing is an entrepreneur and investor based in Singapore. He has previously started, built and sold half a dozen businesses and is now a Partner at Unity-Group Private Equity and Co-Founder of The Marketing Group PLC. He is the author two best selling books ‘Progressive Partnerships’ and ‘Agglomerate’.

Connect with Callum here:
twitter.com/laingcallum
linkedin.com/in/callumlaing
Download free copies of his books here: www.callumlaing.com

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