Expanding any business globally is a big step that requires careful preparation for being successful. For doing so, it is critically important to develop and implement a well-detailed plan that includes the following components: growth objectives, market situation, entry strategy, financial and ROI analysis, goals and -last but not least- measurement.
Without a doubt, this is not an easy task; however it offers great opportunities for business growth through the extension of a product’s life cycle, the focus on brand awareness and the possibility of hedging your business by taking advantage of foreign exchange fluctuation and balancing revenue streams from different economies.
According to Renata Lima Lerch, Global Marketing and Operations Strategist, these are the critical pillars that help organizations promote and sustain growth at an international level that are commonly overlooked:
- Branding and Positioning
The core of any organization is its brand, therefore closely monitoring its development is of great importance!
- Business and Community Models
Business and community models define the frame of a global structure. Each country has cultural, social and economic differences. There are a variety of business models available to test and explore: partnerships, joint ventures, sales agents, contractors, regional and/or local representation, wholly-owned subsidiaries, just to name a few.
- Ecosystem and its Dimensions
Perhaps the most important point of all is developing a strong and systematic awareness of the organization’s ecosystem and its dimensions. The development of an ‘ecosystem roadmap’ allows executives to visualize the real interactions and dynamics among users, members, partners, volunteers and staff. A detailed guide on users’ needs, thoughts and experiences, before, during and after consuming products and services, can unveil several growth opportunities for associations.
Last but not least, technology is the backbone of your global structure, and is embedded in every aspect highlighted in this article, on both commercial and volunteer sides.
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Our association experts can help you solve your challenges and unlock opportunities, visit us at: association.mci-group.com