What is a brand? The dictionary defines it as “a type of product, service, etc. made or offered by a particular company under a particular name”. But there’s more to it. When a customer recognises your product/company easily, trusts it and is loyal to it, that’s what a brand is. In an overcrowded market, a brand is the best way to stand out.
You don’t need to be a huge conglomerate to be a trusted brand. Many small and medium-sized businesses have managed to become household names, not just in their home markets but globally. This is true for exporters as well. Many exporters are now serious not only about expanding further into markets abroad but also about building an international brand identity.
This blog takes a deep dive into the importance of building an international brand to grow your export business overseas. Read on to learn about:
Why should I take the trouble to build an international brand? There are many reasons:
Recognising a brand from visual indicators (logos, colours) is called brand recognition. Now take that a step further. When the customer not only recognises your brand but knows what kind of product you sell, at what price, your principles and values, and what kind of buying experience you offer, that is called brand awareness.
To understand how brand awareness works, let’s take a look at some of the world’s top brands and their level of brand awareness:
So, how do you build an international brand? In the export business, this is a tough task. You might be a well-known brand at home. But, when you set foot on foreign territory, you are suddenly an unknown entity. The challenges of building a brand in a new export market can be daunting:
That’s not to say it can’t be done. Here’s what it takes to build an international brand for your export business:
1. Find a market: Step 1 is to find a market for your product. It doesn’t have to be the largest. What’s more important is that the demand for your product in that market is consistent and that this demand is not easily met by a rival. When considering a potential market, ask yourself:
For more details on finding foreign buyers for your product, read our blog here
2. Deliver the goods: Can you consistently supply goods to that market within its laws and rules? Do your products meet local standards on safety, health, environment and so on? Only enter a market you know you can deliver to.
3. Adapt: This might include changing your product name, logo and/or colours to adapt to cultural differences or to avoid causing offence even by accident. French cheese brand Kiri underwent a name change in Iran and became Kibi because the original name in Farsi meant rotten. As you can see, understanding cultural differences is key. Use local resources and hire specialists who will ensure you aren’t lost in translation.
4. Be consistent: While you might need to embrace change in certain areas, make sure your core identity and principles remain consistent so that your customers know exactly what to expect when they buy a product from you, no matter where you are located.
5. Pay attention to packaging: No matter how good your product, it might be defeated by faulty packaging. Find out if your target country has packaging requirements. For example, do they demand additional nutritional information on food packaging? Or, does the information have to be in the local language?
6. Protect yourself: File the necessary trademark and patent protections to preserve your international property overseas.
So you’ve established an international brand. What’s next? You need to build brand awareness. To do this, you need to communicate with potential buyers, let them know you exist and that they need to buy your products. There are many ways to communicate with customers. But for a first-time exporter or a small business testing a foreign market, your budget will probably drive your choices. Here are three affordable options for you:
Social media is key to brand awareness. Consider this: social marketers say increasing brand awareness is their biggest goal, ahead of generating sales and everything else. Here are some ways you can use social media to build a buzz around your brand:
And that’s how easy it is to create an effective brand awareness strategy. With a little time and effort, you could turn your export business into the next big brand on the global stage.
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