3 components of global branding
When considering expanding internationally, questions often arise when it comes to logistics, costs, risks, infiltration and more. However, there’s a big issue that’s often overlooked when it comes to taking your company international. That issue is successfully establishing a global brand. Well, let’s take a look at some strategies which will help organizations to improve their global branding. 3 components of global branding
Components of global branding
Research local markets
Although you want to build a brand internationally, it doesn’t mean you can start the process without researching local markets. You need to know everything about a given country because its culture and habits may be in collision with your branding strategy.
Take the meaning of colors for example. In western civilizations, black symbolizes sorrow and death, but in China it is associated with prosperity, good vibrations, and positive energy. You must know this sort of details before launching a global brand awareness strategy.
Stimulate the sharing of insights and best practices
This involves having to research and learn from either a company’s own or another company’s past mistakes. This is especially important when considering entering a market in another country.
Businesses must gain the knowledge about how to communicate to a target market from one country to the next. Although researching doesn’t sound like a difficult job, it is often challenging to find available information to gain the right amount of insight when planning a new project. However, having a healthy company culture in which employees are satisfied urges them to work more efficiently, gaining the information necessary to correctly implement projects.
You probably have a team of branding experts who know what you want and know how to implement your ideas, but they can hardly visit every market to control the branding process locally. Hiring local consultants is a much better option both financially and technically.
First of all, local experts often don’t charge as much as domestic employees because they consider it as a privilege to work for international brands. Secondly, they perfectly understand local conditions, culture, and regulations, so it’s easier to realize the project without side effects.
Global branding is similar to local brand building, but it does come with a few perks that every marketer has to understand and pay attention to.
Have you ever thought about growing your brand on a global scale? Make sure to let us know in the comments so we can discuss it with you!