August 23, 2015

How to Expand Your Business Overseas

What to consider when looking to expand overseas

 

The UK is the Stepping Stone into Europe for the English speaking world. Being within the European Union, the United Kingdom acts as not only a test site for businesses looking to expand overseas but also a stepping stone into a much larger global market. Despite some local limitations, once you are operating within the UK you are operating within the European Union. Therefore using the UK to trial your overseas expansion removes language barriers and ensures a smoother (because nothing worthwhile is ever completely issue free!) transition from local to global market expansion.

 

The UK has a population of over 64 Million and the EU has a population of over 500 Million – a very large and very affluent market making the opportunities for success much higher. See More Information Market Statistics UK and Europe

 

How to expand your business overseas. 10 Questions to ask before expanding overseas:

  • Have I built a solid foundation at home?
  • Do I have the bench strength for international expansion?
  • Will I find the talent I need in another country?
  • How will I need to adapt to the local culture?
  • Do I understand the cultural implications of the sales process?
  • Have I sized up the local competition?
  • Do I need an international partner?
  • Am I financially able to sustain an overseas expansion?
  • Where’s the potential for red tape?
  • Should I simply expand my online presence?

For a detailed answer to each of the above questions Click Here

Ask the Experts: Those that have walked that path before us.

See a few tips and advice from Entrepreneurs that have made the successful leap to a global market:

Seek First to Understand

“It all starts with understanding the culture. People do business with people they like, trust, and respect. Working in other countries requires even more careful planning and a sensitivity to cultural norms and relationship building. In Europe alone, their 28 countries have 24 official languages. Some countries like Austria, Germany, and Switzerland speak the same language, but differently. Don’t assume your style is universal.”

–Michael Ross, EO Orange County, Founder and Managing Partner, Altitude 7 Group.

For more advice read on.

The Why’s and Why Not

Why Not? To some these may be excuses, to others, legitimate reasons to evade a risky venture:

  • Language barriers.
  • You may be unfamiliar with cultural practices and etiquette.
  • You may be unfamiliar with local law and politics.
  • Limitations of foreign labour laws.
  • Time-consuming and complex.
  • Difficult to find a partner you can trust.

Why? A list of reasons to overlook the risks in order to help your business grow:

  • 95% of the worlds’ consumers reside outside the U.S. (according to the Office of the U.S. Trade Representative) – those are all potential new customers!
  • Possible untapped market.
  • Because if you don’t, your competition will.
  • You don’t have to actually move overseas to do business there – the internet is your gateway to expansion.
  • The risk, reward and challenge are appealing.

Read On

Romax – An overseas partner with the local UK and European market experience.

romax_logo_tag_blueRomax Marketing & Distribution, a Greenwich-London based company, provides a wide range of services in Direct Marketing for B2B and B2CDirect Mail, Data Management, Printing, Discount Postage and Membership Communication Services and Consultancy. Contact us: hello@romax.co.uk +44 (0) 20 8293 8550

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March 23, 2015

Boost export sales to the UK

Boost export sales to the UK

The UK is a member of the G8 with one of the world’s largest economies, has a population of almost 65 Million people, with a GDP of $2.435 Million which is $37,444 per capita. According to the United Kingdom’s Office of National Statistics (ONS), 83.4% of all imported goods are purchased in England, with the remainder split across Wales, Scotland and Northern Ireland. The gross disposable income left over after key purchases have been made) per household per capita as a UK average is £16,791.

Taking advantage of a multi-trillion pound economy, to boost export sales to the UK is, therefore, key to the overseas expansion and of any expanding business looking to take advantage of a mature consumer market always looking out for the next ‘big thing’. How do you gain a foot hold into the UK Market?

if any, companies have unlimited resources to put into marketing. They need a carefully targeted approach, with as little waste as possible. No surprise then that the most cost-effective and efficient way to enter the UK market is through a carefully thought through marketing plan. A Plan that takes all elements of the UK marketing into account BUT is tested and proved, from a data analytical perspective. It allows companies of all sizes to focus their efforts where they are most likely to yield results. It’s a practical approach based on testing and learning as you go. Find out what works – and do more of it.

A good direct marketing campaign not only brings you results now, it allows you to build a relationship with customers that will serve both you and them in future. The best cross media campaigns are based on an in-depth understanding of their target market. They work because they are personal.

You need a marketing expert with years of experience under its belt to really do this well, one that is a wizard with data and can tease out the important points others miss. It’s a highly skilled art. You may also want a 360-degree approach that will deliver campaigns across mobile, web and print from a single source. Romax are tried and tested at using both on and offline personalised marketing.

Romax can deliver your campaign with maximum impact, and will help you deliver your marketing on a budget – setting realistic targets, and then helping you reach them. Romax is a specialist in data-driven direct marketing. They are experts in data management and with every campaign that is sent out, data is enhanced to make the next campaign even more effective. Clients come back over and over again for one simple reason: Romax deliver what they promise – direct marketing campaigns that work.

romax_logo_tag_blueRomax Marketing & Distribution, a Greenwich-London based company, provides a wide range of services in Direct Marketing for B2B and B2CDirect Mail, Data Management, Printing, Discount Postage and Membership Communication Services and Consultancy. Contact us: hello@romax.co.uk +44 (0) 20 8293 8550

Contact Us