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How to enter international markets

By ICODA Agency | ICODA Agency | 6 May 2021


Once the phrase caught my eye that it was more correct to say not "leave to the international market," but "enter." In general, I can't disagree - any project will always have time to leave it. But entering it is much more difficult. Actually, today we will talk about the stage of development of a company or project, to which, one way or another, all worthy enterprises come over time. So, some tips on how to get out, or, if you want, enter the international market crypto project.

 

1. Be sure to investigate.

 

The first and necessary stage for any actions, especially in marketing - research. It is necessary to understand where you are going to lead your ship, and most importantly, why. How many times have I encountered that customers who are asked the question "for what purpose do you plan to enter a particular market?" are lost in the answer. "Make money!" you will say. And you'll certainly be right. It just prevents you from making money in the region where you are already represented. "Make more money!" - some will steal away. But then I ask a counter-question: if you do not earn enough money in the place where you are now, then maybe you just did not start from there? There can be many goals: expanding the brand presence, mastering new services, increasing the customer base, and so on, and the like. The point is one thing: money is also a goal, but far from the main one. To understand how and where to achieve your goal, you need to do only one thing: conduct a study.

 

2. Decide on the market.

 

This advice directly follows from the previous one. After answering the question "why" you should answer the question "where." Your research will show not only your capabilities but also the needs of certain markets. Of course, it is impossible to embrace the immense. Well, almost impossible. At least it's not necessary. Determine for yourself which markets would be most interesting to you (at least based on personal preferences - I love Germany and Spain, but I don't like England, too, by the way) and focus your research on them. If there is nothing suitable, then you can safely supplement the list. And so until the search is found. Don't forget to explore markets for competitive environments. Agree, it will be foolish to come to where the niche has already been occupied for many years. Especially if budgets are limited.

 

3. Check the MVP.

 

It's time to try yourself in selected markets. Start selling your services, invest in marketing. The marketing strategy should certainly be determined based on research and your capabilities. However, do not spare money for advertising and PR - these are the methods and tools that will be the engines of sales progress. Be sure to build strategies. Identify the minimum number of activities and resources needed to get your services started in the selected markets.

 

4. Test different strategies.

 

Come up with several ways to sell your goods or services in advance. Test each of them systematically. It is easier to choose the most effective method of several tests than to act "on luck."

 

5. Localize the product.

 

Almost the most important point in terms of promotion. Do not forget that each market has its specifics: linguistic, cultural, business... It is ideal to have an employee who is familiar with the specifics of a particular market. This will save you time and pack as few bumps as possible. For example, our agency ICODA Agency acted just like this when entering Asian markets. We have an employee who is directly there and advises us on certain regional specifications that we have to deal with. And although we have been working with the Asian direction for several years, believe me, we, sometimes, do not get tired of being surprised by the regional features that occasionally challenge us.

 

6. Certificates and licenses.

 

Don't forget to check to see if you need a license or certificate to conduct your business in a particular region. Many projects stumbled on this item.

 

7. Be brave and think out of the ordinary.

 

Try to find new approaches in everything and adjust your team accordingly. It is difficult to select a project if you act on some given template. Be bolder! This is how not only cities but also countries are submitted.


by Vladislav Pivnev
CEO of ICODA Agency

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