The Role of Marketing in International Expansion

Fractional Futures is the essential podcast for CEOs, investors, and senior marketing executives looking to unlock the power of fractional marketing leadership.

Hosted by Paul Mills, Founder at VCMO, and with special guests, we'll share expert insights, provide actionable strategies and explore real-world success stories to help you leverage fractional marketing leadership for maximum impact.

Episode Summary

In this episode of Fractional Futures, Paul Mills and Rob Nicholls discuss the complexities of international expansion for businesses. They explore how to adapt marketing strategies for new markets, the importance of building a global brand while maintaining consistency, and the financial risks associated with entering international markets. Rob shares insights on the necessity of market research, building relationships, and the long-term perspective needed for successful brand building in diverse regions.

Special Guest

Rob Nicholls, Founder Rob Nicholls Consulting, CFO, Board Advisor and Angel Investor. Connect with Rob on LinkedIn:   / robnichollsconsulting-cfo-ned-advisor  

Key Takeaways

• International expansion presents both opportunities and challenges.
• Cultural, economic, and regulatory differences require tailored marketing strategies.
• Building relationships with local distributors is crucial for market entry.
• A strong global brand helps in gaining credibility in new markets.
• Brand building is a long-term investment, not a short-term tactic.
• Market research is essential before entering new international markets.
• Different regions require different entry strategies and pricing models.
• Trust and partnership building are key in relationship-driven markets.
• Digital infrastructure must be localized for effective market penetration.
• Businesses should focus on one or two markets at a time for effective strategy.

Sound Bites

"How should a business approach market entry?"
"It's about getting out there, meeting people."
"Build relationships. It's not difficult to do."
"You have to take a long term perspective on this."
"Don't start dropping your pricing by 10% or 20%."
"Do your research and do it well."

Chapters

00:00 Introduction
01:25 Adapting Marketing Strategy for New Markets
04:38 Picking the Right Market
09:09 Living in the Target Market for Research
11:36 Building a Global Brand
13:13 Be Patient to Build Traction in the New Market
15:58 Creating a Sub-Brand as a Market Entry Tactic
17:59 Price Sensitivity in New Markets
19:46 Financial Risks in International Markets
23:03 Treating New Markets Differently
25:35 Episode Summary & Close

Contact VCMO

• Connect with the host:   / paulmills-fractionalcmo  
• Email us: [email protected]
• Visit our website: https://www.vcmo.uk
• Phone us: +44 (0) 331 630 9395

Thanks for streaming & keep podcasting!

Fractional Marketing Leadership | Marketing Transformed.