Are you sure Italian sodas will sell in Nepal?
Are you focusing your present social media efforts on the international economy?
Foreign marketplaces are evolving. Within the next three years, foreign nationals will have the most increasing consumer touch-points due to smartphone technology. Also, add to these marketing touch-points: developing, localized search engines results, developing regional social networks, and technological increases based on the desire and needs of the local population. Both inbound and mobile marketing will have access to real-time communication and data generation never seen before from within many foreign markets.
As part of your social media marketing program, remember to create and set-up a social media monitoring program reflecting your business needs to operate and grow in a corner of the world unfamiliar to your sales and marketing specialists. Specialized agencies can be hired to market to a focused country, but how will you know what you really want and need in your marketing/sales endeavors? One needs to know before they go…
Your social media monitoring outcomes need to reflect not only ROI. They need to reflect insights allowing your business to gain a competitive edge against your American or local competition in foreign marketplaces. Remember, it is through insights how one determines point of need conversations and shares expertise marketing! Also, these same insights will tell you a targeted market could be a lost cause!
Again, are you really sure Italian sodas will sell in Nepal?
7 Social Media Monitoring Outcomes for Foreign Countries:
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Physical and political geography: First world country? Is the capital or secondary city the best place to set-up HQ? Do they like Americans or Chinese? How accessible is the country? What is their election cycle? Weather? Religious issues with your product or expertise?
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Technological Infrastructure: Are your consumers tech saavy? Are they conversing with text on mobile or conversing with keyboards in chatrooms? Do they have wide area WiFi or use microwave systems? Do they still use cellphones or develop their other technologies to surpass present Western one’s?
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Historical Marketing Failures: What types of widgets sell here? What widgets fail? Who buys in the household? Cyclical buyers or impulse buyers? Do they save up to purchase your widget or would you let them buy on credit or pay in installments?
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Local Competition: Ponder how long they are in business? Are they state owned? Do they manufacture and distribute within the country? Do they use out of country contractors, marketers, or engineers?
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Corruption/crime issues: Will your employees, partners, and consumers be safe buying your product? How much illegal activities will your business or brand encounter? Are foreigners kidnapped all the time? How much illegal money will be needed to protect your venture?
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Foreign and local sentiment about target country: What does the American media and other media agencies think of the country? United Nations? US State Department Advisories? UN peacekeeping operations? What other American companies do business there? What are their issues?
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Infrastructure: How does the country move goods and populace around? What is the state airline or railroad called? Are freight flights on-time? Is their postal service timely in their deliveries? Is there safe roads? Is infrastructure updated? Are there shopping centers or markets?
Another consideration: Is your targeted country using psychographics for their citizens?
What other insights could a social media monitoring program reveal about a foreign marketplace?
Do share!
