Growing a company means taking on the challenge of entering new markets. A business that has done well in its home market may still need to work on raising its profile among an unfamiliar audience before it can compete successfully in a foreign market. This article will examine 20 effective methods that have been suggested by professionals to increase brand recognition in a new market.
Know Your Why, And Be Your True Self
It’s important to know why you’re doing what you’re doing and stick to your values if you want to grow your brand into new markets. Brent Scrimshaw, an analyst at Enero Group, claims that the most successful international businesses have a clear sense of mission and purpose. Knowing the brand inside and out and the customer base inside and out drives innovation and prevents short-term gains from compromising long-term principles.
Use a holistic strategy
Expanding into a new market requires a comprehensive strategy. This paves the way for communication with prospective buyers throughout the customer lifecycle and across different forms of media. All Points Social’s Courtney Hiller recommends using specialized assets for each advertising platform to maximize the impact of your brand’s paid social, programmatic, and paid search efforts. Customers can be persuaded to make a purchase if you can find them wherever they are using compelling messaging and creative.
Pay Attention to Regional Tactics
Tailoring your tactics to the tastes of the locals is essential when breaking into a new market. Netpeak’s Andriy Chumachenko recommends going digital and tailoring your message to the target audience’s values. Establishing a solid foothold in a new market requires prioritizing partnerships with influential people and encouraging connection, credibility, and relevance.
Talk to Potential Clients
Creating a loyal customer base in a new market calls for an intimate familiarity with local tastes and customs. In order to learn more about potential customers’ information-gathering strategies, trust thresholds, decision-making procedures, and networking habits, Alicia Arnold of Fifty Five recommends conducting interviews with them. Using this information, you can create a strategy for creating content that will have the desired effect.
Leverage Existing Clientele to Acquire New Goodwill
One way to increase brand recognition is to “transfer” the goodwill of your existing clientele to new consumers. Jill Whiskeyman, from Simpatico Studios, LLC, suggests using influencers and strategic out-of-home placements to generate interest and credibility. Gaining new customers’ trust rapidly is possible through the combined use of influencer endorsement and establishing a sense of familiarity.
Learn About the Culture You’ll Be Visiting
Growing your brand’s recognition in a new market calls for an in-depth familiarity with the regional customs and values. United Partners’ Maria Gergova-Bengtsson suggests leveraging social media and influencers, developing region-specific content, participating in events and partnerships, and fine-tuning your website’s local SEO. The local community and media can be easily won over if you show interest in and support of their culture and social causes.
Use Your Brand’s Value to Your Advantage
When expanding into a new market, it helps to capitalize on the already-established reputation of the company’s brand. Mediate.ly’s Rosie Walker recommends forming partnerships with major league sports teams, tailoring activations, and forming integrated content programs with major publishers. You can increase your brand’s visibility and credibility by establishing your company as a leader in your field and forming strategic alliances with other influential people in your field.
Tailor Your Branding Efforts
Brands that want to make a real impact in a new market shouldn’t simply export their current branding strategies there. Ivana Johnston, of Puzzle Partner Ltd, stresses the significance of adapting to the local culture and market. Local consumers will come to trust your brand more once it has established itself as a credible and established member of the target community, vertical, or industry.
Work together with nearby businesses
B2C companies can benefit greatly from forming partnerships with local businesses or influencers when entering a new market. Kelly Ehlers, founder of Ideas That Evoke, suggests working with influencers and brands that share your mission. You can build trust and support from the local community by leveraging their existing user bases.
Make use of Time-Tested Campaign Strategies
There are many ways to increase exposure for your brand in a foreign market, but the approach you take should be tailored to your intended demographic. Executive Digital’s Aleksandar Sasha Jovicic recommends social media, billboards, freebies, and influencer marketing. Brand awareness can be boosted in a new market through techniques such as vehicle wraps, sign spinners, and partnerships with local charities.
Collect Both Qualitative and Quantitative Data
Research and analysis are essential before entering a new market. Wunderdogs’ Daria Gonzalez says that in order to comprehend current awareness levels, market trends, and cultural nuances, it is crucial to collect both qualitative and quantitative data. You can anticipate and achieve success in the new market by building your strategy on these key takeaways.
Do your homework
It is essential to investigate a potential new market extensively before entering it. Understanding customer behavior, preferences, and needs is crucial in the new market, as George Arabian from NVISION explains. Your chances of success will improve if you respond to market needs and adjust your advertising accordingly.
Collaborate with Mini-Influencers
Micro-influencers are credible figures within their communities and can promote your product effectively. The Motherhood Inc.’s Cooper Munroe recommends working with niche but influential voices to increase brand recognition. Expand your audience reach and establish credibility in the new market by amplifying their content and using their authoritative voice.
Follow the Advice of a Reliable Leader
It’s crucial to have an authoritative figurehead who can articulate your message clearly when reaching out to a wide variety of new audiences. CIEN+’s Lili Gil Valletta suggests teaming up with a respected local figure who can accurately represent your company. If you want to connect with and resonate with the new market’s audience, you need to do so in a way that is culturally and contextually authentic.
Join Forces with Reputable Producers
When compared to traditional advertisements and celebrities, audiences place more faith in creators like influencers and content creators. LTK’s Rodney Mason suggests forming partnerships with respected creators in the emerging market in order to fine-tune communications and reach people with similar interests. By capitalizing on their popularity and credibility, you can successfully increase your brand’s visibility in the target market.
Realize the Stakes in the Emerging Market Challenge
Understanding the business climate and challenges in a new market is crucial before entering that market. The Agency’s Arleigh Vasconcellos stresses the significance of knowing the problems your brand can help customers with. You can earn respect and gain an edge in the new market by providing highly customized solutions and fostering strong relationships with your clients.
Make Use of Community Leaders
Brand awareness can be greatly increased in a new market through collaboration with local influencers and partnerships. VIE Media’s Garrett Atkins recommends seeking out and forming partnerships with local influencers and organizations whose goals and ideals are congruent with those of your own brand. You can ease into the market and win over local consumers by appealing to their existing fan base and demonstrating an understanding of and appreciation for their culture.
Straddle the Fence and Attack
Mark Skroch, from BCV Social, suggests using a straddle strategy to rapidly expand into new markets. Public relations and social media can be used to spread the word about your business’s growth, but you should also put significant resources into performance channels like SEO, SEM, and programmatic advertising to see the best results. You can learn from the results and tailor your messaging accordingly.
Work Together with Similar Companies
Working with similar companies in the new market will allow you to pool resources and reach more people. Ivonna Young, founder of The Lavender Agency, recommends forming strategic alliances with companies whose products or services are complementary to your own but do not directly compete with your target market. Brand recognition and trust in the emerging market can both benefit from this cooperative effort.
Oppose Contentious Viewpoints
Clarity Quest Marketing’s Christine Slocumb suggests taking a stance on important issues and publishing thought leadership pieces to raise brand awareness in a new market. By disseminating this content through your social media accounts and press releases, you can position your business as an industry leader and capture the attention of your ideal customers.
As a conclusion, increasing brand recognition in a new market calls for meticulous preparation, investigation, and execution. Using these shrewd methods, you can successfully introduce your brand to a new market, grow its reputation, and win over consumers. Be sure to maximize your brand’s reach and impact by remaining faithful to its original mission and values, while also catering to the local culture and drawing upon the power of partnerships and influencers.
See first source: Forbes
FAQ
1. What are some key strategies for increasing brand recognition in a new market?
Understanding your brand’s mission and values is crucial when expanding into new markets. Staying true to your core principles can help you maintain a sense of purpose and drive innovation.
2. How important is it to tailor your marketing tactics to the preferences of the local audience?
Tailoring your tactics to match the local tastes and values of the new market is essential. It helps in building connections, credibility, and relevance among the target audience.
3. How can I learn about the culture and preferences of the new market?
Conducting interviews with potential customers in the new market can provide valuable insights into their information-gathering strategies, trust thresholds, decision-making processes, and networking habits. This information can be used to create effective content strategies.
4. How can I transfer goodwill from my existing clientele to new customers in the new market?
Utilizing influencers and strategic placements, along with establishing a sense of familiarity, can help transfer goodwill from your existing customer base to new consumers.
5. Should I adapt my branding efforts to the local culture and market?
Yes, it’s essential to adapt your branding efforts to the local culture and market. This helps build trust and credibility among local consumers, making your brand more relatable.
6. What data should I collect before entering a new market?
It’s crucial to collect both qualitative and quantitative data to understand current awareness levels, market trends, and cultural nuances. This data will form the basis for your market entry strategy.
7. How can I collaborate with local businesses or influencers in the new market?
Collaborating with local businesses, influencers, or organizations that share your mission can help you build trust and support from the local community. Leveraging their existing user bases can be highly effective.
8. What are some recommended campaign strategies for brand exposure in a foreign market?
Strategies such as social media, billboards, freebies, and influencer marketing can help increase brand awareness in a new market. Techniques like vehicle wraps, sign spinners, and partnerships with local charities can also be effective.
9. How can I address the unique challenges of an emerging market?
Understanding the business climate and challenges specific to the new market is crucial. Providing customized solutions and fostering strong client relationships can give you an edge.
10. What’s the significance of collaborating with local community leaders?
Collaborating with local influencers and organizations that align with your brand’s values can enhance brand awareness and resonate with the local audience.
Featured Image Credit: Austin Chan; Unsplash – Thank you!
