In this podcast episode, the focus is on the strategy of building local and selling global. The hosts discuss the importance of establishing a strong local presence before expanding globally. They emphasize the need to understand the local market, culture, and customer preferences in order to effectively sell on a global scale. The episode highlights the benefits of building a loyal customer base locally, which can then be leveraged to expand internationally. The hosts also provide insights and tips on how to successfully navigate the challenges of entering new markets and adapting to different cultures. Overall, this episode offers valuable advice for businesses looking to grow globally by first building a strong foundation locally.
Key Take Aways
- Understand the importance of localizing your marketing efforts: The blog emphasizes the need for digital marketers to tailor their strategies to specific local markets, as this can greatly enhance their chances of success in global markets.
- Conduct thorough market research: Digital marketers should invest time and effort in understanding the local market dynamics, consumer behavior, and preferences to create effective marketing campaigns.
- Leverage local influencers: Collaborating with local influencers can help digital marketers gain credibility and reach a wider audience in the target market.
- Optimize for local search: Implementing local SEO strategies, such as optimizing for local keywords and creating location-specific content, can significantly improve visibility and attract relevant local customers.
- Adapt to cultural nuances: Digital marketers should be aware of cultural differences and adapt their messaging, visuals, and tone to resonate with the local audience.
- Utilize local social media platforms: Instead of solely relying on global social media platforms, digital marketers should explore and leverage popular local platforms to engage with the target audience effectively.
- Build partnerships with local businesses: Collaborating with local businesses can help digital marketers establish a strong presence in the target market and tap into their existing customer base.
- Monitor and analyze local performance: Constantly tracking and analyzing the performance of marketing campaigns in local markets can provide valuable insights and help digital marketers refine their strategies for better results.
In episode #14, Affle’s Director – Business Development & Partnerships, Ankit Rawal, talks about the importance of building local and selling global post-COVID-19 pandemic.
About the Growth Genius:
From Microsoft to Oracle, and from start-ups like InMobi to Affle, Ankit has immense experience across bigger companies. With 14+ years of experience, he has built an expertise in helping businesses gain exponential growth and revenue in the emerging markets across the globe. He is also a prolific columnist & writer, mindful practitioner, and teaches digital marketing at various business schools.
So, let us join today’s Growth Genius, Ankit Rawal and our Host – Founder and Managing Director of Infidigit, Kaushal Thakkar, where they talk about the process of building local and selling globally.
(04:26) Frequent mistakes to avoid while building local businesses
Building a business locally and selling globally during or after the COVID pandemic situation has become challenging. To avoid inevitable mistakes, you need to consider following these below-mentioned things.
- Product-market culture fit – Identifying whether a particular product fits the target market culture of geography and then selling it.
- Identifying core and chore of business – Businesses usually fail to identify the core values and the chore of the business. So, it is essential to identify what the company’s values and what your brand want to stand for.
- Selling problem before selling product and services – Salespeople and marketers need to sell problems first then their products and services to the consumers. This process helps in creating awareness and demand for your product in the market.
(14:44) How should a leader influence a growth culture for an organisation?
A leader can influence by following a cultural pyramid structure for his/her business. The structure can be depicted in three forms:
- Bottom: The foundation of the culture table is made up of philosophy and values of a company that employees need to follow. It sets a benchmark about what the company demands to run a business.
- Middle: The second is mythology and folklore behind the values of a company. It is about how leaders and employers who need to come up with the reason behind the values and why they want employees to follow it.
- Top: – The top section consists of rituals followed within the company. For example, salespeople usually set a ritual where colleagues applaud an employee for achieving a bigger client.
(18:00) What is the most significant challenge while building a local business?
Building trust among employees is one of the most significant challenges a business could suffer. It is an essential thing among businesses as it helps in building a robust trustful nature in the organisation. The concept of organisational culture is to keep everyone together.
(22:19) What are the best practices you suggest for building a successful business team?
Here are certain things that businesses need to follow for becoming successful in the market.
- Choose people who have a relevant set of skills required for the growth of your business.
- Become determinant while working with other professional.
- The team you are working with should be highly motivated while making the business successful.
(26:55) How should an organisation create a global presence?
Apart from having an office, businesses need to build their global presence through the medium of the internet. From websites and social media platforms to content marketing activities and podcasts, business needs to build their virtual presence to grow faster.
(30:20) What are the key challenges of managing cross-cultural teams, and how do you address these challenges?
Business leaders usually face a major challenge of cultural differences while managing teams across different geographies. So, to tackle this challenge, you need to know anything and everything about the people you are working with. From their national/local food to the favourite sports team, you need to research their likes and dislikes before working with them. This method helps in building organic relationships and can help in growing your business.
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