Business internationalization is a key process that often determines the success of a company. In general, expanding markets means increasing sales, audience and, therefore, achieving long-term growth. However, like any other project, it’s something that must be carried out with a specific plan in place and a good understanding of the most important steps. This article explains the process in detail.
What is business internationalization?
In essence, it’s a process that enables a brand to start trading in international markets. Or, in other words, when a brand goes on to buy or sell abroad. However, it’s important to understand that it’s not just about selling abroad, but rather about managing operations in other countries. For example, purchasing or collaboration operations.
Just think that there will be industries, especially in the creative field, that can benefit from having professionals based in other parts of the world. This can be a case of internationalization, provided it is a long-term process and not just a one-off event.
It’s an important change in which the most pressing issue is correctly adjusting to the new conditions of each territory. Thus, a key point in making it work will be to reach an understanding with the foreign staff or work teams involved.
Which brands can benefit most from this process?
In theory, it may sound like something that is reserved exclusively for large companies, but nothing could be further from the truth. The reality is that any SME can also easily adapt to this type of scenario. That’s because, as in so many other occasions, technology is an undeniable advantage that boosts and favors trade.
In general, companies that have integrated online sales in their business dynamics may benefit from this type of expansion. It’s relatively simple, for example, to move from selling online on domestic ground to some parts of other countries. It will naturally require a good marketing strategy and the correct translation of your site’s texts, but it will be manageable. What’s more, it could offer a juicy growth opportunity for your company in the future.
In the same vein, small companies can also move to outsource their services abroad. For example, many companies refer their creative needs to studios abroad where they can find professionals that better meet their requirements. It’s something very beneficial that can greatly enhance your company’s operations.
In this particular case, the only real obstacle is language. Therefore, in order for both parties to work together smoothly, it will be vital to have a translation agency that can update contracts, messages, and so on. This is the best method to avoid any possible misunderstandings.
How is internationalization implemented?
In this process there are several important points to follow in order to guarantee the best result. Now, let’s see what they are:
This is usually the most comfortable way to become familiar with other countries’ work culture. This way, you will also begin to build connections and to have small bases from which to offer your products. Generally, it’s the easiest way to enter any market.
Once you have started purchasing, you can launch more aggressive business strategies, such as selling your products or services abroad. This will require the right advertising campaigns. Be they B2B, digital marketing for your e-commerce, or an investment in traditional offline advertising. When doing so, it’s important to be careful with the language and, once again, the best way is to rely on a professional translation agency.
3. Commercial implementation
This step refers to opening offices abroad. You can rely on the staff of your choice. It involves a much bigger commitment, a larger investment, and more legal complexity. Therefore, enlist the required professionals to make the operation run smoothly.
4. Investing abroad
This means basing production abroad to sell wherever you’d like. Usually, only large enterprises take this step. But it’s worth knowing when is the right moment to make this type of investment. This way, you will recognize the opportunities when the time comes.
Now you know all the steps involved in business internationalization. As you can see, it’s a move that can be very beneficial and offer you great results, as long as you do it correctly. If you want to rely on a team of professional translators to help you along the way, don’t hesitate. Here at blarlo we can help you with your translations!