In today’s globalised marketplace, being proficient in market entry tactics is key for companies seeking to effectively extend their presence into unfamiliar regions. While aspects like product excellence and pricing retain their significance, the pivotal role of potent communication strategies cannot be overlooked.
Understanding the Local Market
Effective communication is crucial for comprehending and manoeuvring through cultural subtleties when venturing into fresh markets. It’s essential to be prepared to think, communicate, and conduct operations as adeptly as any indigenous business in that region. Give careful consideration to the culture, language, traditions, and legal frameworks of the market. To initiate this process effectively, enlist the expertise of cultural and linguistic professionals familiar with communication strategies within the specific region. Consumers are more likely to avoid or often misunderstand brands or products that are not relatable to them.
For instance, when it comes to language, more than 70% of consumers spend most of their time online engaging content in their native language. Furthermore, engaging with customers and soliciting feedback is crucial for refining communication entry strategies. Companies who actively engage with customers and incorporate their feedback into business decisions achieve revenue growth rates 2.5 times higher than those who don’t prioritise customer engagement.
Leveraging Digital Platforms
As of January 2024, the global digital population surpassed 5.35 billion people, underscoring the vast potential of digital platforms for reaching target markets. Effective utilisation of social media, email marketing, and content marketing can significantly enhance market entry efforts. In fact, 54% of social media users have used social media to research products. With consumers becoming hyper-connected, there is an increasing number of opportunities to engage new and existing customers. However, companies need to understand how they can cut through the noise and meet consumer demand. This requires an omnichannel communication strategy as the modern consumer switches between channels, devices, e-commerce, and brick-and-mortar stores, the transition should be seamless.
Public Relations and Planning
PR firms demonstrate proficiency in crafting thorough communication strategies customised for particular markets. They engage in extensive research to grasp the nuances of local media platforms, cultural intricacies, and audience preferences. Leveraging their expertise, these firms assist businesses in formulating messages that resonate with target demographics and correspond to their market entry goals.
Middle Eastern countries despite sharing similar geography, language, and Islamic culture, differ greatly in lifestyle, social behaviour, and laws. A successful communications campaign in the UAE, may not necessarily be successful in Kuwait or KSA due to the conservative nature of the countries’ customs. The UAE has had decades of hosting world events such as Expo 2020 Dubai and COP 28, and has one of the most diverse expatriate populations allowing brands a level of flexibility to promote while being aligned with cultural brand messaging when it comes to the Ramadan and religious holidays. PR firms can pre-plan strategies to overcome any issues a brand might face when entering a new market.
Mastering market entry strategies through a communication-centric approach is essential for attaining success in fresh markets. By focusing on efficient communication, enterprises can improve customer perceptions, cultivate robust brand reputations, and adeptly handle cultural intricacies to make well-informed choices and optimise their potential for market entry.
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