There are so many things to think about when it comes to taking your business abroad, including the kind of reception you’re likely to face, the types of customer you’ll be meeting, and the cultural and language barriers that may stand in your way before you can establish your brand; research into the international market is, therefore, vital. One of the biggest considerations you’ll need to make, though, is how you’ll market your business in a foreign country. What kind of digital world is open to you, and how could you do things differently? The internet is everything, and you must know how to harness its power for the good of your company – particularly if you’re venturing into unknown territory.
Entering the digital world in a foreign market
Multichannel marketing is essential these days, and the more exposure your company can garner the better; after all, isn’t it best to ensure the widest audience possible is aware of your brand? From newspapers and radio advertising, to television and social media channels, creating a new media market has never been simpler, as long as you know how to approach such a task; the resources are there, at your fingertips. The internet, for example, has exploded in recent years and is now used in a variety of different ways to increase awareness of big brands and products, regardless of the country a particular service originated in. International suffixes, such as .ca, .uk, .ae, and .au, allow companies to be marketed around the world while appearing to local markets, while social media networks, and channels such as YouTube have allowed entire media markets to be nurtured. According to one study, 60% of YouTube ‘hits’ are garnered from outside of creators’ home countries, enabling the Internet to become a truly global phenomenon and a useful business tool.
So, when it comes to creating a new media market, where would you start? Researching the country, and market, that you’re about to enter is an excellent first port of call, and it’s essential to understand the cultural and language barriers that may determine the types of media you work with. The internet is used worldwide, in almost every country, but you will still encounter obstacles; Russia, for example, has barred foreign investors and businesses from owning anything more that a 20% stake in the country’s media outlets, while China still restricts external online traffic. Being aware of such politics is important if you hope to expand your business internationally, as is knowledge of more niche markets. Where does your company fit in? Are there any gaps in the nation’s media? Building a media presence and creating a name for yourself will take time and dedication, but reward your business with a wealth of opportunities.
Case study: The growing media sector in Azerbaijan
One of the keys to creating a successful media market is to consider growing economies, and those countries still establishing their online presence. Azerbaijan is one such country, with just 60% of the population online; despite this statistic, the media sector in Azerbaijan is growing exponentially, creating opportunities for businesses and entrepreneurs alike. Take PNN Group founder Nasib Piriyev as an example. Despite his involvement with the oil industry, and a variety of differing markets, Piriyev is intent on expanding his reach within the media sector. Having studied business and media production concurrently, Nasib Piriyev has worked with the BBC and Discovery Channel, embarked upon a career as a journalist, and acted as the Chief Director of global television network CaspioNet. He has also established an arts centre and increased Azerbaijan’s awareness of media outlets – all while growing the business he founded with his father, Nizami. Nasib understands the importance of media markets when it comes to business, and his case study should be explored by anybody wishing to do the same.
If you’re looking to expand your reach on an international stage now is the time to consider the impact that media can have on your business, and the contribution you can, in turn, make to new media markets. The ways in which you use the internet and explore other platforms, can have a lasting impact upon your business. Are you ready to explore what’s on offer?