You know what’s great about working out? You can do it anywhere! Literally, anywhere. There are even gyms that have locations all across the nation and offer their members access to all of them.
In an increasingly connected world, brands are getting smart and expanding their sales footprints to other markets. Let’s consider e-commerce to start and the relationship between affiliate marketing to drive revenue. You can even boost your home market sales from these type of performance partnerships. Sounds great, right? However, it’s not without its challenges.
There are bound to be struggles when expanding your market beyond your local reach. The same approach is NOT going to work in every region. You have to consider the market dynamics and not be afraid to address them head-on. Do your research and understand the depth of the market. You can invest in research, interviews and look into necessary distribution and customer support resources. A little bit of insight goes a long way and now is not the time to tread lightly.
Find expertise within the new market, someone who deeply understands partner and affiliate marketing also. Engaging the right local agency is a quick and easy way to acquire that knowledge. International agencies might even be a better consideration depending on your product and audience – they can leverage the hub and spoke model to deliver highly experienced strategic leaders and specialists. Make sure in investing in key items that will support your global expansion. The big ticket items are an efficient and secure e-store, a customer support team who knows the language and market and finally you need to know your data and biz trends.
Speaking of data, it’s going to be your best friend as you expand. You need a comprehensive understanding of your audience’s behavior and how your partners perform. There’s never no ultimate network or platform that fits every brand just right. Yours will be unique in its needs and functionality. Match capabilities to need and you will do just fine.
Now that we’ve covered the operational side, let’s examine our partners. They need to be a good fit – they should share the values and interests of your brand, as well as being able to connect with your target audience. And make sure it’s easy for you to pay them. Some of the larger and fast-growing markets like China, Brazil and India have complex financial regulations that make it incredibly difficult to do financial business. Every single one of these points is exactly the reason why you should start with both international and local expertise and build from there.
This will get you started on building your thriving international partner marketing program and take your brand global. Make sure to define a strategic plan, partnerships and affiliate are incredibly rich and dynamic fields and becoming more important to the top and bottom lines of retailers. Why not get all the sales you can?
Do you have any tips for going global? Leave me a comment below!