What is global marketing and what are the best strategies?
Global marketing strategies are based on the idea of achieving brand recognition around the world. Although it seems an impossible goal to achieve, in the globalized world in which we live it is nothing more than an adaptation to the accelerated rhythms of the markets.
What should we take into account when internationalizing products and services? Is it an expansion process only suitable for multinationals or does the concept of globalization offer more solutions?
Here are some examples of how big brands developed the best global marketing strategies offering multilingual content and conquering the whole world.
If you are an online business and you are focusing your strategies only at the local, regional or national level, perhaps you have not yet stopped to think that you can aspire to more.
The concept of global marketing has the objective of expanding the market dominance of a company like capital smart city Islamabad to different countries, increasing its brand recognition and taking advantage of all the advantages of globalization.
Thanks to modern means of transport, new technologies and the use of digital as we have never conceived before, the opportunity for international expansion is increasingly feasible, not only for large companies but also for small ones Surprised?
Everything is possible if we employ a good communication strategy and use the appropriate channels and codes to reach a wider audience.
The economy by which the new markets are characterized reduces the distances between countries, encourages their interaction and offers business opportunities in which, perhaps, we only have to overcome linguistic and / or socio-cultural barriers.
What is global marketing?
Global marketing is the set of techniques based on a sales strategy for a product or service to access the global set of your target audience. This discipline tries to reach a global market, but for this it must integrate consumers with common needs and adapt the product so that it is perceived as attractive in other markets.
A global marketing strategy requires adapting the brand to the communities of other countries, so it is necessary to do a market study and decide in which countries it can be effective to develop a global marketing campaign.
Therefore, it must be borne in mind that global marketing, rather than selling a product internationally, develops the different stages of planning, production, promotion and dissemination at an international level. This is why the product can sometimes change in shape, design, size or performance.
Difference between global marketing and international marketing
Before we start talking about the strategies that we have to carry out for global marketing, it is important that you know their difference with respect to international marketing. Both terms are often confused, but they do not always have to be equivalent.
Let’s take as an example that a company wants to export its products to a specific country because it considers that its market is also in that country. In this case, the company will need to apply an international marketing strategy.
However, if the company wanted to expand its presence to many other countries, taking into account all the differences and / or political, social and economic similarities between them, then we would speak of global marketing. In this case, the intention is for the company to be recognized on a global scale.
Some brands with global marketing strategies that we will talk about later are McDonalds, Nike or Coca-Cola. They are companies to consider as references, but there are many more.
Advantages and disadvantages of global marketing
When it comes to marketing on a global scale, many questions must be asked, taking into account what alliances we can establish or what competitors we face. Are we sure there are more advantages than disadvantages?
These are the main advantages that global marketing offers:
- The company can take advantage of a global economy. At the same time, it takes into account the location to adapt to the particularities of each market.
- We develop a double level of reading in the campaigns, that of the particularity of a target and that of globality. In fact, it is possible to develop a communication message that identifies a global need in order to maintain a line of coherence in all markets.
- Being present in many countries, we can buy the raw material in large quantities and save costs.
- The value of the product increases. Global expansion increases competition, which, together with a greater need for adaptation, forces the company to improve the product or service.
- Higher share of sales. We have access to more business opportunities in international markets.
Regarding the disadvantages, we cite the following:
- It is necessary to be prepared for the regulations and laws existing in other countries.
- It is necessary to invest in a good investigation of all the markets, since the needs of the consumers could be very different and that the strategies to be developed do not work in a proportionate way.
- The method of distribution of the products could be very different in each country, so we should have a team in delegations located in different places.
- Content transcreation: although it can be an advantage, it is necessary to consider the difficulty of going beyond the limits of the language when adapting content to different markets. It is not a mere idiomatic translation, but to maintain the tone, style, intention and context while considering the cultural values of each country.
Global Marketing Strategies
So that you understand how to put global marketing into practice and what factors you should consider, we explain the strategies most used by companies.
Although it may seem like a difficult path, it is important to bear in mind that medium-sized companies can also trace it, even without an office in the country where they want to expand. It is up to that point that the power of a good strategy resides.
Adapt the code: campaigns in different languages.
As we have mentioned, it is not only about translating the online marketing campaigns that we have developed into different languages. Adapting the language allows an approximation with the target audience.
In order for the message to reach the audience of all places, it must first be understood, but it must also have the ability to connect, identify with their needs. To connect, the message must adapt the code, that is, the way in which the brand decides to communicate with its buyer persona.
Adjusting to consumer habits and cultures
The characteristics of the buyer persona can vary greatly from one country to another, as can their customs, cultural values and consumption habits.
To succeed in international and global marketing campaigns, we must consider the different ways in which the consumer can perceive each of the concepts that we communicate in our message. This adaptation of the message must respond to geographic diversity (for example, in relation to climate), diversity of ethnicities, races, social sensitivities or religions.
As in any marketing strategy, the objective is to attract the consumer, so we have to adapt to their tastes and needs as closely as possible. You have to show emotional empathy.
In this sense, it is common to see how brands lower the tone in the sexual field when they want to go to Asian countries and have greater acceptance. You just have to see the example of the Coca-Cola ad “Break Up” and how it changes its version in a scene.
Global coherence: aligning local strategies
Just as it is necessary to analyze the differences between some countries and others, it is also important to identify the elements they have in common. Global marketing must design an aligned strategy between the different countries in which it is present to maintain consistency in the messages.
Thus, despite the possible changes made in the different launches of the same advertising campaign, we must not lose coherence between them. And it is that as much as things are said differently to consider cultural diversity, the background must be the same and contradictory messages can never be launched.
Similarly, if a brand develops a unique marketing campaign for each country, what it does is duplicate marketing efforts. In addition, you will be losing the essence of global marketing, which is to globalize the image of a brand.
How then to align local strategies?
In order not to lose sight of what the approach should be and respond to specific local needs, we must take into account the 4 Ps of marketing. Do you remember them? Product, price, point of sale and promotion.
Product: it is the main element on which any marketing campaign is based. In order to know if something needs to be changed to cater for local particularities, it is necessary to consider what consumer need or desire it satisfies.
Price: this is one of the factors that can vary the most depending on the country of destination, since it must adjust to market demand, study the prices set by the competition and, above all, do not forget that it must generate profits.
Point of sale or distribution system: This is another complicated aspect that must be adapted to local preferences. In the distribution we will have to know if we are going to have a physical store or only online, which are the channels that are best for us to have, how we will do the storage and transport, etc.
Promotion: how will we make ourselves known and by what means and formats? What varieties should be adopted in the message?
Legal compliance with international and local regulations
When carrying out an international commercialization of products or services, it is necessary to deeply know all the legislation that may affect us. It is very likely that to operate in a specific segment we must comply with a series of certificates, licenses and standards (both local and international).
Likewise, we must know the different taxes and if there are tariff barriers. We could talk about this at length, as it is not only a matter that depends on the country of destination, but also on the business sector we are talking about.
In this sense, the World Trade Organization (WTO) and the International Chamber of Commerce will be able to help us.
Modify the strategy to give the best experience.
Once we have implemented our marketing strategies on a global scale and we have launched the advertising campaigns in different countries, a feedback process arrives.
This means that, once all the gear is activated at a global level, we will have to be prepared to analyze the first responses from consumers and nourish ourselves with any feedback we may receive. You have to be receptive and analyze the first KPIs.
In this way, we will be able to make the modifications that we consider pertinent to increase our relevance for the consumer in the long term. Thus, taking advantage of the knowledge acquired from the local market, we can improve the customer experience and increase the value of the product or service.
Examples of global marketing strategies
Without pretending to be too ambitious, we show you the most successful cases of global marketing. These brands followed strategies that yielded great results and managed to expand the reach of your business. Do you want to know how they did it?
Let’s see it!
At the top of our list is the brand that has been operating internationally since 1919 and that markets its products in more than 200 countries with ample brand recognition worldwide.
Coca-Cola is famous for the way it connects with the emotions of its audience in its different advertising campaigns, so it takes into account the influences and social perceptions of each country to do so in the most effective way possible.
For this, its maxim is the principle of coherence that we have discussed previously. Sometimes it implements imperceptible changes that, for us marketers, do not go unnoticed. Changes in the label, different versions for the same scene of an audio-visual piece or even in the shape of the bottle.
Their element in common? The formula for happiness, the motto that is present in all your marketing strategies.
It is difficult to find a country that does not have McDonalds, but this does not mean that it was like this overnight.
The world’s best-known fast-food chain is a good example of global marketing. This insert has been achieved by implementing menus with some differences depending on the destination country. For example, in places in Arab countries and Pakistan we find McArabia, which is a sandwich with pita bread, while in the Philippines the most differentiated dish is McSpaghetti.
The sports brand that was born in 1967 with the name of Blue-Ribbon Sports currently has more than 700 production centres. Renowned for its localization strategies and a careful international sponsorship relationship, Nike has captured a global audience in an exemplary way.
If the question is how it achieves it, we would have to explain a myriad of strategies and methodologies to attract international markets, as it does with the co-creation of Nike By You.
What is evident is that its success in all countries is due to the way in which its products adapt to different styles and cultural preferences. You just have to observe how after the 2016 European Soccer Cup it offered a different cover on its website for Brazil and another for France.
In the musical world, we go to Spotify, the platform that personalizes the playlist for each user based on their tastes. But not only does it do it individually, we could say that it studies the tastes and preferences of each country and, in addition, tries to satisfy their habits and lifestyles.
How much they invest for this we could not say, but what we do know is that it has managed to succeed globally to such an extent that the singer who does not appear on said platform is surprising.
The case of Netflix is another example of a global marketing strategy that we must mention. In recent years it has become one of the greatest references in the world of film and television. However, did you know that this company was created in 1997?
Many things have had to happen for what was born as a DVD rental service in the United States to become an entertainment channel for everyone.
Companies such as HBO, Blockbuster OR Tajarat properties as competitors had a lot to do with it, as well as the fact that they began to produce their own content to export it around the world.
Netflix took a real leap when it began recruiting local talent so that we could enjoy American, British, German, French, Korean, Argentine productions, etc. A success around the world.
What can we tell you about Google that you don’t already know?
If we can learn from anyone, it is from the internet services company that in January 2020 occupied a market share in desktop computers of 87.35% worldwide
To reach everyone we can also have it as a reference brand, since it develops a personalization strategy for each country in which it takes into account cultural and language aspects. An example of this are the Doodles that it uses for each country according to certain dates.
Is there a better way to connect with us? Thanks to all the data it handles, Google has become a problem solver, the world’s smartest encyclopedia.
To conclude, we must remember how globalization is an increasingly palpable fact for the companies around us. Whether it is due to the new facilities of the digital age or due to a change in the ways of conceiving a business model, it is evident that the borders are less diffuse than a few years ago.
Global marketing has been established at the heart of all companies willing to take over the world and reach new markets.
A process for which we must analyze step by step all the strategies discussed, ask ourselves which are the countries we want to reach, who can be our great allies and, above all, not lose the essence of the brand.
Do you also want to make history and start your own path to reach a global audience? Tell us how you plan to achieve it!