Global marketing is an effective and profitable concept. This aspect of marketing leverages the marketing strategy in order to appeal to numerous markets. This offers several benefits which helps guarantee consistency across markets and conserve resources. There are several techniques marketers use to secure global marketing. Although the goals of these marketing techniques include promoting synergy, improving economies, and preserving local needs; these techniques also recognize cultural considerations.
In order for an organization to secure a global marketing strategies, the marketers must understand effective strategies incorporate a balanced approach. Moreover, a global marketing strategy must incorporate specific techniques in order to develop a balanced and successful marketing approach.
Technique 1: Recognize Global Needs, Manage Local Needs
Although the comprehensive marketing approach is globally based, an effective approach must include local based incentives and market-distinct initiatives. Additionally, the global and local strategies must complement one another.
In most strategies, the global marketing approach develops the parameters and structure in which the local marketing approach functions. The global marketing approach creates guidelines that provide marketing teams and marketers the freedom to manage local needs.
Large corporations and organizations understand that securing global marketing requires a strategic marketing plan with a specific budget. An effective strategy also requires the organization to develop branding and create brand related guidelines. These organizations use large-scale marketing campaigns that incorporate global PR, an extensive social media strategy, and an in-depth research strategy to help secure global marketing.
Incorporating the local approach requires an organization to implement a more tactical campaign with local outreach efforts. This approach requires local PR initiatives, local social media strategies, and local partnerships. In order to capitalize in these markets, the approach requires local marketers to manage local channels which contribute to the global marketing strategy’s success.
In most cases, it is valuable to divide different markets by rank. Ranking markets allows organizations to identify which areas produce the highest returns. Ranking markets also allows higher ranking markets to receive larger budgets which provide autonomy. For instance, conducting research into local behavior can improve product development in that specific market.
Although global and local approaches can vary from organization to organization; it is important to use this technique to define the strategies for each individual area and avoid inefficiency.
Technique 2: Identify Local Market Needs
In some instances, when an organization operates globally, local needs are inconsequential. In these organizations, there is not enough time allocated to understanding what drives customer needs, local culture, and behavior.
In order to secure global marketing, large corporations and organizations must recognize that the needs of a United State customer are different from the needs of a customer located in Asia or India. Besides basic needs, the customer’s culture and behaviors are also considerably different. For that reason, each customer will interact differently with the organization’s product or service.
In order for a global marketing strategy to be effective, the global marketing team must develop an in-depth understanding of local markets. This helps establish a relationship and creates a distinct dialogue that informs an organization how to effectively market to different territories. Marketing strategies which implement a one dimensional, blanket campaign are ineffective. This type of strategy is unsuccessful across international markets.
An effective global approach develops efforts which integrate flexibility into the strategy. This flexibility caters to cultural differences. Useful initiatives include community events, social media competitions, or interactive customer campaigns. It is important to understand that some events and strategies will resonate well in certain markets, and not so well in others.
Technique 3: Utilize Feedback In A Global Marketing Approach
After creating a global marketing approach, it is important to research local markets, establish key relationships, and define specific local marketing strategies. These strategies must accommodate local needs and utilizing international marketing teams is considerably valuable. Using the feedback from international teams helps understand the local market and guarantees that there are not legal issues which can prevent the approach from functioning properly in specific markets. This is vital to securing global marketing.
Large organizations find it is useful to implement a proactive approach. This type of approach allow the organization to make adjustments and revise the approach in midst of a market specific problem. More importantly, this type of approach will allow the organization to integrate the feedback from local marketing teams.
Technique 4: Communicate Effectively
Communication is useful in securing global marketing and this is an aspect of the global marketing strategy that is vital to the success of the organization. Communication is required in every aspect of the marketing strategy, not solely during campaigns.
When marketing globally, an organization must communicate with colleagues and associates around the world. In most cases, these professional are sitting in offices thousands of miles away. Effective communication connects the organization’s marketing strategy, plan, and activities to different markets and marketing teams.
Communication helps establish a relationship with marketers and in-market teams. Open communication develops trust and nurtures business relationships. Securing global marketing requires communication that keeps marketing teams current and up-to-date on the latest global plans. More importantly, communication informs the marketing teams of the latest competitive developments. In some cases, communication offers an opportunity for discussion to develop new campaign ideas.
Benefits of a Global Marketing Strategy
Although global marketing requires extensive effort and a strategic approach; there are considerable benefits. Most notably, global marketing allows an organization to guarantee that an individual marketing strategy is implemented consistently across different markets. This helps secure global marketing.
Another benefit of a global marketing strategy with a local emphasis is the opportunity to develop an in-depth understanding of a specific market. This allows the organization to effectively optimize efforts, initiatives, strategies, and budgets.
Lastly, one of the most important benefits of a global marketing strategy is international success. Securing global marketing requires the marketing approach to reach different markets. Additionally, each campaign or activity must be tailored for success in these individual markets. Using feedback offers valuable insight and information that an organization can leverage to drive long term global success.