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In this era of globalization, overseas markets are crucial for the growth of small and medium-sized enterprises (SMEs). However, participating in international exhibitions can be expensive, and getting started with online marketing can be daunting.
Expanding into overseas markets is not an easy task, as many businesses face challenges such as increased market competition, building brand recognition, and dealing with cultural and language barriers. These factors can impact operational efficiency and brand image.
This article will introduce how international customer service and marketing can assist businesses in successfully penetrating overseas markets. It will also provide a concrete example of how B2B companies can use digital marketing to enhance their international visibility. If you are an entrepreneur looking to increase your brand's recognition and expand sales into overseas markets, this is a must-read!
The Three Major Challenges of Expanding into Overseas Markets
Many SMEs, having achieved success in the local or Taiwanese market, seek to expand their businesses into overseas markets. However, they often encounter difficulties. The following is a detailed explanation of the potential issues that businesses may face when venturing into overseas markets, as discussed by the international customer service team of Eason Sourcing International, which assists the automotive industry, aviation industry, and cross-border e-commerce industry in entering overseas markets.
To succeed in overseas markets, creating an English website is not enough. The most critical aspect is the ability to communicate with local customers and establish trust. According to a survey by New Voice Media, 70% of customers are more likely to collaborate with businesses that assist in their native language, to avoid misunderstandings and incorrect translations due to language and cultural differences.
Imagine if you were partnering with an overseas company, and you encountered order-related issues, but they struggled to assist you due to language barriers. Would you still choose to work with that company? Conversely, having local native speakers with practical experience who prioritize service and possess a keen understanding of customer needs can provide clear solutions to all your problems, instilling greater confidence.
However, finding the right international talent during the initial phase of entering overseas markets is not only a test of language skills and expertise but also entails significant time, effort, and cost for interviews.
Expanding into overseas markets can be highly beneficial for SMEs, but doing so without adequate preparation can lead to failure. The first and foremost step is to understand the needs, characteristics, and trends of the target market.
However, many businesses fail to conduct sufficient market research before entering overseas markets, leading to products or services that do not match the preferences and expectations of local consumers or missing market opportunities. For instance, a failure to consider local regulations, taxes, logistics, and other factors may increase operational costs or lead to non-compliance.
Market research is a crucial step in expanding into overseas markets, helping businesses identify the right market positioning and strategy. Using digital marketing to increase exposure and inquiries and engaging in questions and discussions during the contact process can also help B2B companies clarify the needs of international corporate clients and accurately provide the services or products they require.
While overseas markets seem to offer significant growth opportunities, they can also become highly competitive due to various competitors vying for market share. When you target a particular market, other competitors also set their sights on that region.
Furthermore, even if a business is a hidden champion domestically, excelling in a particular field but not widely known, its international brand recognition may be nonexistent. In comparison to local companies with high brand recognition, most people would choose a company they have at least heard of.
Overseas competitors can be global giants. Therefore, expanding into overseas markets without understanding these dynamics and relying solely on market size often fails. Digital marketing is one of the shortcuts to overcoming the lack of brand recognition. Customer experience, from website visits to transactions and post-sale service, plays a vital role. This applies not only to general consumer customers but is even more critical for 2B businesses. In the age of the internet, international corporate clients research 2B businesses through official websites and online platforms, making digital marketing a crucial aspect for businesses.
For more information on the importance of international customer service outsourcing, please refer to "Three Major Advantages of International Customer Service Outsourcing for Business Owners Expanding into Overseas Markets."
Three Key Secrets for Successful Expansion into Overseas Markets
Secret 1: Utilize Local Language Search Ads and SEO Strategies
When a business enters a new market with limited brand recognition, methods such as SEO (Search Engine Optimization), content marketing, and search advertising can significantly boost its visibility. You might assume that B2B companies, especially in manufacturing, don't often secure orders through online means. However, according to a Google survey, 89% of B2B companies start by searching online for the latest industry information, making a strong online presence crucial for making a positive first impression.
In other words, identifying your business's strengths and regularly updating your website's blog through SEO and content marketing can enhance search engine rankings, increasing your chances of reaching potential customers. This is particularly essential for businesses venturing into overseas markets.
Secret 2: Market Research
Expanding into overseas markets requires an understanding of market size, customer demands, and competitors in the industry, making market research an indispensable part of the marketing process. Collecting and analyzing information through market research enables businesses to provide solutions tailored to customer needs.
Integrating market research with business strategy and digital marketing helps businesses highlight product advantages and strengths. This approach allows you to target suitable market segments and demographics, formulate product positioning and pricing strategies, and stand out in competitive overseas markets.
For instance, if market research reveals demand for specific product components in an overseas market, you can communicate the specifications of consumable parts or efficiency-enhancing components and how they integrate with various machinery on your website or in sales interactions, increasing the chances of closing deals.
To address language and cultural challenges faced by businesses expanding into overseas markets, multilingual customer service is key to success. It assists businesses in maintaining smooth communication with local customers, establishing trust, and enhancing loyalty quickly.
While businesses can internally recruit and manage multilingual service teams, the time and cost required for recruitment and training often outweigh the benefits. Outsourcing to a professional BPO company not only saves on labor and time costs but also ensures stable service quality, helping businesses improve customer satisfaction.
Our team offers not only international customer service but also market research and marketing recommendations. In the realm of digital marketing, Eason Sourcing team can provide expert advice.
As an example, Eason Sourcing's own experience as a B2B company with the goal of expanding into international markets is noteworthy. To ensure that Japanese and overseas companies seeking services such as "BPO" and "multilingual customer service" appear at the top of search engine results, Eason Sourcing team regularly executes Chinese and Japanese SEO strategies. This leads to a steady influx of inquiries every month, and our experienced team can assist businesses in quickly increasing their visibility in overseas markets.
Additionally, in terms of customer service, Eason Sourcing team has experience in various industries, including the automotive, aviation, and cross-border e-commerce sectors. We have multilingual customer service personnel from different countries, proficient in languages such as Japanese, English, Mandarin, Cantonese, Korean, Vietnamese, and Thai. They can communicate in the local language, emphasize a service-oriented approach, and possess a keen understanding of customer needs.
Moreover, through cross-border data integration and accumulated service data, we provide in-depth market research data that includes customer categories and trends from different regions. This data can help business owners make informed decisions regarding the direction of their future products or services and the formulation of marketing strategies.
In this article, we've discussed the potential challenges of expanding into overseas markets and provided solutions. If you're not content with your current domestic market and are considering expanding overseas but are unsure how to save costs and mitigate the risk of failure, please feel free to contact us!
