How to Expand Your Business into New Markets (Guest Blog)

While your business might be thriving in its current location; in order for your business to grow further, expanding into new markets is essential – especially in today’s highly competitive market. Although expanding in to new markets can seem like a daunting process because it’s associated with risk taking, it can open up lots of new and exciting opportunities for your business and once you’ve broken into a new market successfully you’ll be pleased you took those risks. Before you know it, you could be booking your international removals and opening up new offices in a completely new country.

However, opening your business up to new markets does require careful planning and consideration and it’s certainly not something that can be achieved over night. Take a read of a few of the simple factors to consider when starting the process of opening up your business to new markets.

Expanding what you offer

Entering a new market is a great opportunity for you to develop and expand your services and products. For example, have you had enquiries from a variety of people for a particular product or service that you don’t already offer? If so, entering a different market, would be an ideal opportunity for you to expand in this area.

Furthermore, consider what your direct and indirect competitors offer and question; do they offer services that you don’t? Does your target market have reason to choose your competitors over you? If your answer to either of these questions is yes, then you know that you need to amend your business strategy. Consider, how can you really stand out from your competitors and what can you offer your target market that your competitors can’t. Really differentiate your business from any of your rivals so that you are way ahead of the competition.

Networking

A lot of the time it is not necessarily what you know but who you know. So take the opportunity to network as much as possible before you take the plunge and expand into a different market. You never know who you might meet that could benefit your business. For example, if you have decided on a new product that you want to introduce but are feeling uncertain about how to introduce it to market, you might meet someone that has experience in that field or they might have some good connections that they can introduce you to. Really make the most of the resources available around you to ensure that your expansion is a success.

Targeting a new audience

In order for you to successfully target a broader range of people in a variety of locations, it is absolutely essential that you have an excellent online presence. It needs to be easy for your potential customers to find and appear on search engines when relevant keywords to your business are searched for. Therefore, it is essential that your website is well optimised with excellent SEO.

Furthermore, it is vital that your website is easy for your customers to use – it’s all well and good if the website looks nice, but if it is difficult for customers to use it will create a negative online experience and it is likely that they will leave the site and visit a competitor’s website. So therefore make sure that you invest in an effective website design and consider all aspects including the design, branding, usability, navigability, search and experience.

 

Attracting customers on a global scale

A great way of opening up your business to international markets is by gaining an ISO certification. This can sometimes be overlooked by smaller businesses, however ISO certifications are very highly recognised on a global scale and therefore can really help to give your business a competitive edge.

Becoming ISO certified demonstrates how you have created a structured way to address a particular aspect within your business. For example, ISO 9001, is internationally respected and the most widely used ISO standard today with over million businesses in 175 countries currently certified. Research by QMS International Ltd has found that 44% of companies that became ISO 9001 certified won new business because of it.

 

Blog supplied by Laura Harrison on behalf Abels, a company experienced in international removals of both businesses and individuals.