Growing Your Global Business On a Budget

Growing Your Global Business On a Budget

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If you are a small or medium-sized company (let’s say that large companies don’t have to struggle with a limited budget), one of your main goals is growing and expanding the business, both within individual countries and globally. You already spent a lot of time on further developing your product, so the question is how to actually grow your global business on a budget. 

That’s why in this blog, we will discuss three basic and common-sense growth hacks. Luckily, these hacks don’t require you to sell your soul to the devil in order to achieve success, so let’s start from the top:

 #1. Choose your target languages strategically

According to the Ethnologue, English is spoken by some 1,15 billion people around the world, either as a first (380 million) or second language (750 million). With a 7,5 billion global population, this would mean that you can reach up to 15% of the world’s population by using English on your website and in your marketing campaigns. For a single language, this is great, but you are still missing out on 85% of the world’s population, or 6,3 billion people.

All other growth hacks aside, if you want to grow a global business on a budget, you must adopt a global mindset and reach global audiences. By localizing your content even into a handful of other languages (e.g. Spanish, Chinese, French, Russian, etc.) you can double or triple the number of people you can reach. What does it have to do with budgeting? Strategic thinking and data-based decisions will let you spend money on a translation into a language that has the highest chances of bringing you more customers.

 #2. Offer quality-content to your audiences

This is a no-brainer! If you have a good blog or offer free e-books on topics which might interest your target audience, you already have something which will draw people to you. You will help them learn about your product/services, and increase the chances of them approaching you and buying from you.

Of course, you need quality content, and you would be definitely wise to couple this hack with hack number one on the list. Even localizing this resource of choice into only one language will let you reach other native speakers with more ease. You grow your global business on a budget and offer people quality content. They will be thankful: what comes around, goes around!

#3. Make use of social media

Depending on the country you are trying to expand into, the online behavior of internet users can vary. As you can see in some of our previous blog entries regarding e.g. the Brazilian or Chinese markets, the popularity of a certain marketing channel can vary depending on the target market.

For example, Facebook will still be a good channel for Brazil, while China predominantly uses WeChat. Email campaigns are also still popular in Brazil, so you might also want to include this strategy into your expansion plan. You can also localize the content used in social media campaigns. Just think about the impact a localized social media campaign would have on Spanish-speaking markets, compared to your English Facebook campaigns!

Do not underestimate the power of language!

If you want to grow your global business, combine a localized approach with the common-sense hacks listed above. People from around the world who are interested in your product will appreciate this and your conversion levels will go up.

If you want more advice on going global, reach out to us. There are some great and cost-effective options available, which can even help you automate the localization process and reach these new markets faster. We will gladly help with any questions you might have, no strings attached!

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