So you’ve come to the decision to expand your business in Europe, but the question is – do you know how? For many businesses, expanding abroad can seem like a big risk, and it certain ways, it is.
However, there are several reasons as to why an increasing number of business owners are choosing to pack up their assets, renew their EHIC card and expand their business in Europe. Whether it is to reach new audience, maximise profit or in order to develop a lasting brand image, there’s no shortage of possibilities. Below, we explore five steps to expanding your business in Europe to ensure success both now, and in the near future.
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It’s Different
When the time comes to expand your business in Europe, before you rush into designing your pitch, remember that pitching is different across all European Countries. It doesn’t matter how you have previously sold your business; when entering an exclusive market in an entirely new location, the pitch must be changed in order to correspond to local standards. In some instances, this could just involve changing the content format. In other cases, however, you may have to complete re-think your pitch in order to ensure your presentation is successful.
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The Importance Of Knowing Your Audience
In order to expand your business in Europe successfully, you must know your audience. Whilst you already will have a good idea of your audience at home, things abroad are very much different and your new consumers will often expect and require something partially, if not completely, different. In order to gain greater insight to your audience in an unknown environment, take a look at your competition. By knowing your competition and identifying their techniques, you can easily surpass the challenge of getting to know your audience. Of course, there are more direct ways to find out more about your audience, including by speaking to people, conducting surveys and exploring social habits, which are just as effective.
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Picking The Right Location
When expanding your business in Europe it is paramount you pick the right location for your business. There are several things to consider when choosing a location for your business. Not only will you need to consider who your customers are and how important their propinquity to your location is, but you will need to look at the community as a whole in order for your business to thrive in Europe. Before expanding your business in Europe, it is paramount that you consider whether your chosen location is economically stable, in order for your business to successfully expand in Europe, and even the world.
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Marketing & Advertising
Once you understand the importance of knowing your audience and have identified exactly where you plan to expand your business in Europe, it is time to consider how you will reach your audience in a new country. When it comes to marketing and advertising your business in Europe, it is essential that you take your different customer needs into consideration, because, it’s different. In order to successfully market your business in Europe and increase conversion rate, you must design a marketing strategy that clearly identifies:
- Your business and its products and services
- Your business goals
- Customer profiles
- Your competition
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Seek Advice & Assistance
Expanding your business to Europe is by no means easy. As a result, a great way to ensure your business expansion is successful is to seek professional advice and assistance. Whilst seeking professional advice and assistance doesn’t necessarily guarantee success, it will certainly help ensure you don’t make small errors that may significantly affect your business expansion in Europe. With their help, you don’t have to do half as much work and you can rest assured that everything is in capable hands.
