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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February 3, 2015

Mailmen – Direct Mail Report Endorsed by Marketing Leaders

 

Mailmen: Marketing Leaders Endorse Royal Mail MarketReach Direct Mail Report

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Robert Senior Comments on the effectiveness in the use of Direct Mail in a marketing campaign

Mailmen: Marketing Leaders Endorse Royal Mail’s MarketReach Campaign endorsed by five influential industry leaders: Robert Senior, Worldwide CEO, Saatchi & Saatchi Fallon Group; Karen Blackett OBE, CEO MediaCom; Nik Roope, Founder, Poke; Elspeth Lynn, Executive Creative Director, M&C Saatchi and David Robinson, Sales and Marketing Director, The Sun.

No marketing professional will ‘put everything on red’ when it comes to planning a successful marketing campaign, but there has been a reawakening of late in the realisation that the value return made from social media and email campaigns without the combined use of a more tangible and emotive marketing touch point such as printed direct mail, does not create the returns required.

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At Romax we are huge advocates of the correct use of data driven marketing to ensure that the message of  your campaigns reach the target audience via their preferred media, but also as importantly allows them to respond by the method of their choice. Increasingly this is by a hand held device, tablet, phone or web device. The marketing stimulant to drive activity on your site is what needs thought – a true multi-media cross media  data driven campaign.

Salvation Army Case Study: There is a great case study in the report from a Charitable perspective. It is important to remember that direct mail is the strongest stimulant for the charity sector, but if your non-charity sector marketing campaign is planned as well you will achieve good results too. The graph speaks for itself.

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We thought this was a little extreme, but let’s remember this is a marketing report endorsed by ‘The Sun’ so you would expect an evocative headline. As we believe that direct mail is the epitome of communication with clients we can categorically state that no animals were (or will be) eaten as a result of this report!

Part of the report around the impact of direct mail was around the retained value in the household. Big Brother style cameras were installed to ascertain where and how direct mail was interacted with and acted upon. The opposite plan demonstrates the ‘warm’ and ‘hot’ spots of interaction. Unsurprisingly (some may say surprisingly) 1% of people do actually take their mail to the toilet to open it! Top spots being of course the Living Room and Kitchen. More importantly however this shows that once the mail piece has reached destination, it stays in around the household as a tangible interactive marketing piece for so much longer than a electronic communication which we feel are best used as reminders to jolt a response as part of a campaign.

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All reports need a comparison chart and we chose this one to discuss here (there are lots more in the report so if you like a good graph or two, you won’t be deprived!) The open rates for ALL of these mail pieces are all much higher than any email campaign would dream of achieving, (where an open rate of 15% plus is seen as a result!) Interaction again is considerably higher than email alone, where a click through interaction rate of single figures is good. So to download the report to read it for yourself now that we have provided an overview click HERE

OK So there was one more….Again we are very clear that email on its own is the poor relation when it comes to achieving results, we also strongly believe that email should definitely be used in a planned and positive way in conjunction WITH direct mail. Key to this is understanding your data, if you know how your clients currently interact with your organisation, then you can, with confidence, communicate with them using their preferred method enforced through other channels.

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Romax is a full service, data driven direct marketing company; data, digital print, 1-2-1 marketing, mail and email marketing, originally starting as a London Mailing House, and expanding to provide UK and overseas direct marketing services. To contact us, email: hello@romax.co.uk or call +44 (0)20 8293 8550