Tuesday, October 1, 2013

4 World Wide Marketing Fundamentals and How to Target Your World Wide Marketing

Technology has made our world smaller. It's easier than ever before to engage with people on a worldwide level. Because of this, technology companies need to adapt their marketing strategies based on growth markets. These growth markets are the low hanging fruit for marketers. Today's marketers need to be agile in their strategies.

Before we dive into where the low hanging fruit is, lets set the table with 4 world wide marketing fundamentals:

1) Know your Target Audiences – Do you have the ability to sell solutions in every country? Do you have local/regional sales or support people? Identify which countries/regions you can support and target those as primary focuses.

2) Media Type – It has been proven that different countries have different content type preferences. After identifying the countries/regions you are targeting, build a content marketing strategy to support that. Understanding that a Case Study for example will excel in the UK, but likely see just average performance in the United States is fundamental. For more of these content insights read this study. A universal truth in content marketing is keeping content focused on buyer pain points - more education, less product pitch. This will be successful in any region/country.

3) Translation vs.  Localization – In some countries you can get away with simply localizing content (IE – adapting parts of it to fit the region or country) however in other places you need to translate (IE English language content won’t perform well in Germany, Japan, etc.). Adjust content marketing strategies to factor in which regions/countries need translation vs. localization.

4) Understanding the Marketing Laws – It’s important to know how privacy laws and users expectations differ from country to country so you can stay compliant. While laws are one thing, being mindful of user’s expectations is equally important; after all as Seth Godin says “The essential truth is that spam is always in the eye of the recipient.

These are the basic fundamentals you must understand before perusing your worldwide marketing strategy. If you have already addressed the above elements, a quick and easy way to ramp the worldwide marketing investments is to go after the low hanging fruit.

The Low Hanging Fruit:
Different countries and regions have different economic outlooks and growth rates. These growth rates/outlooks as well as the current technology infrastructures impact what they are investing in and the priority levels for those investments. To maximize your marketing ROI you should look for regions/countries that are investing heaviest in your technology area and add or increase marketing efforts there.

Some examples of low hanging fruit coming out of the TechTarget IT Priorities Audience Survey:

90% of respondents in ANZ believe the recession is no longer in effect vs. LATAM where 
40%+ are still feeling the effects of the recession

Mobility is a top area of investment for ANZ with 43% of respondents investing against it, yet compare that again with LATAM and Compliance is the number area of investment.

If you are a MDM vendor and you don't have ANZ as a priority region for growth, you are likely missing out on low hanging fruit. Studies like this can be help you narrow down on where the best places to invest are. Use your partners and other resources like this to help identify and map your strategy. 
To take a slightly less direct view, but still insightful – this chart highlighted in Michael Brenner’s blog post shows “Global Economic Indicators suggest a massive increase in China, India as US and Europe continue to decline as a % of global GDP. Key Consideration: there will be tremendous business impact from the economic growth in China, India and other countries like Brazil and Russia. Is your organization ready?”
What does all this mean?
As Marketers – we all need to think globally.  For example, I have heard of marketers looking to limit efforts in India because of the number of consultants in that region. Yet this is a country with explosive growth, why limit explosive growth?  The success of our organizations depends on thinking globally.  We need to be mindful of regions with explosive growth and not limit our growth in those areas.  Cloud technology is all about being able to scale rapidly in times of need, as marketers we need to adjust our marketing strategies to be “cloud” like in this way.


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