To build a global marketing strategy, a business needs to create a unified brand vision across multiple countries. Business giants such as Nike and Red Bull continue to deploy a global marketing strategy to great effect.
The former operates in more than 170 countries and adapts to each local market by placing an emphasis in its advertising on that region’s home-grown sports celebrities, such as Rafael Nadal in Spain and Cristiano Ronaldo in Portugal.
Red Bull, meanwhile, is an Austrian company that generates over $2 billion in global sales every year due to its highly effective international marketing strategy.
How to Create a Global Marketing Strategy
Fintech entrepreneur Michael Zetser, who has extensive experience in business planning and development, knows that conducting thorough market research in every new region is crucial to understand what marketing messages are likely to resonate with different local audiences. It is vital for a business to understand the demographic that is purchasing from them in every country they plan to operate.
This understanding should be used to inform the design process for each campaign. Consideration should be given to how things like colors and images are perceived by audiences in the target market, to both strengthen the message and avoid the possibility of inadvertently causing offense. Clarity of purpose is important: distilling the business’s values and reason for existence down to a single tagline is an important part of developing the strategy.
The aim with a global marketing strategy is for the business or service to appear as if it were tailor-made for each local audience. To do this, attention should be paid to the demographics of each new market, their interests, and their pain points.
Take a look at the embedded PDF for more information about how to create an effective global marketing strategy.
The Benefits of a Great Global Marketing Strategy
More than 80% of the world’s purchasing power is to be found in non-US markets; this is also where 92% of the world’s economic growth is occurring. The revenue opportunities that these markets hold is therefore highly significant, which is why 35% of enterprise IT decision-makers in business are planning to be active in more than 50 countries in the near future.
In conclusion, creating a strong global marketing strategy is key to the success of businesses as they enter new markets across the world.