10 Strategies for Internationalising Businesses in 2024

10 Strategies for Internationalising Businesses: Guide 2024

Internationalising businesses is not a one-size-fits-all path but requires a customised and well thought-out strategy. In this article, we explore 10 key steps to successfully navigate the international landscape, avoiding the common mistake of standardisation and embracing an approach that respects the diversity of global markets.

Why is an Internationalisation Strategy Important?

In the age of globalisation, expanding beyond national borders has become an essential strategic move for companies aiming to grow and compete effectively. A well-structured internationalisation strategy allows you to identify and exploit new opportunities, while reducing the risks associated with entering unfamiliar markets.

The Standardisation Error: A Customised Approach

One of the most common mistakes companies make when venturing abroad is to standardise their approach without considering the cultural, economic and legal specificities of new markets. This can lead to misunderstandings, inefficiencies and even failure. The key to success lies in adaptability and customisation of strategies according to the needs and expectations of each market.

10 Tips for a Winning Internationalisation Strategy

Digitise with Criterion

In the digital age, online presence is crucial. However, it is crucial that this digitisation is guided by a clear strategy focused on identifying user personas and understanding their customer journeys. This approach allows communication efforts to be directed to the stages of the purchasing funnel where they are most needed, maximising the effectiveness of digital marketing actions.

Listen to the Market and Reorganise Relationships

Entering a new market requires active listening and a deep understanding of local dynamics. Reorganising the way you relate to customers and stakeholders according to local norms and expectations is key to building strong and lasting relationships.

Schematise and Take Nothing for granted

Do not assume that what works in your home market will be as effective elsewhere. Often, what we take for granted in our cultural and business context may not be understood or appreciated in a different context. It is essential to simplify the message and make it as clear and direct as possible.

Create a Dedicated Internationalisation Team

Aversion to change can be a significant obstacle within the company itself. Forming a dedicated export team with full decision-making powers can help overcome internal resistance and keep the focus on international opportunities.

Consider Re-Positioning

Entering a new market can be an opportunity to re-position your brand or products. Don’t limit yourself to your current positioning in your home market; consider how you could adapt your offer to meet the needs and expectations of a new audience.

Listen to the End User

Base your strategies not only on feedback from distributors and agents but above all on listening carefully to the end user. This will allow you to better understand how to position your product or service in the new market.

Identify and Overcome Barriers

Recognise barriers to entry, both operational and psychological, and work to overcome them. This could include creating educational content to help customers better understand your product or service.

Optimise Logistics and Packaging

Review your packaging and logistics to ensure they are suitable for export. Considerations such as durability of packaging, labels in the local language, and compliance with international regulations are essential.

Take advantage of Internationalisation Facilities

Explore the various financial facilities available to support business internationalisation, such as vouchers, non-repayable financing and regional or national incentives.

Customisation is the Key

In summary, internationalisation requires a holistic and customised approach. Consider each new market as a unique entity and adapt your strategy accordingly. Remember that flexibility and the ability to listen are your best allies in this journey.
Are you ready to take your business across borders? Contact us to find out how we can support you in creating a customised internationalisation strategy for your company.
One of the projects we are most proud of is that of Brevetti Montolit Spa, a Lombard SME that in the past years has developed foreign markets in a classic way through trade fairs, business missions and by following up on requests from foreign partners. Develed accompanied Montolit in its expansion into the USA and Canada, potentially huge markets but where until 2013 the company was not particularly well established and the brand was little known and incorrectly positioned in the eyes of distributors and end users. In the space of 5 years, through a mix of an innovative commercial approach and new generation digital marketing, the Montolit brand has become one of the best known and most sought after brands in North America.

Today, the Canadian and US markets represent a significant percentage of Montolit’s total turnover. After the success achieved with Montolit in the Canadian and US markets, Develed was commissioned to replicate (customising) the business model developed in North America on other markets such as: UK, Ireland, Spain, Portugal, Belgium, Holland, Poland, Romania, South Africa, Iceland and others.

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