How To Plan Overseas Brand Growth?

How To Plan Overseas Brand Growth? Overview

Going global means more than just export

Far from being an abstraction, branding is a set of tools and methods meant to support business growth. Nowhere is this more obvious than in business globalization. No matter the industry, branding is a critical component of entering foreign markets and building a stable, profitable business abroad. Moreover, as economies move up the value chain, branding becomes increasingly central to the success of companies seeking to go global. It is thus more important than ever for senior decision-makers to fully integrate the branding dimension into their plans for globalization.

What are different dimensions of overseas brand growth?

Making branding support overseas growth means more than a local language name or slogan. Different tools and methods must be deployed to achieve systematic brand building:

• Consumer research – businesses going global typically rely on macro channel data but often lack an understanding of their consumers. Qualitative methods of market research are critical to achieve the necessary understanding of local values, lifestyle, and culture necessary to get real product and brand market fit.
• Positioning – strategy for foreign expansion should not be limited to pricing and channel mix. The right brand positioning will allow companies to use their competitive advantage to the maximum and establish defendable points of differentiation in new markets. This tool can be used as part of a strategy to disrupt mature markets or to develop new profitable niche segments.
• Naming and design – it is common for the best-laid globalization plans to be foiled by a brand identity unsuited to local market conditions. When thinking about naming and design for globalization, brands must look beyond purely aesthetic qualities and deeply consider the cultural resonance of their brand identity and the suitability of brand assets to local communication channels.
• Experience – a reliable measure of the strength of a brand can be found in the quality of its experience. From customer service to retail environments, CRM etc… winning brands don’t just compete on products but create memorable interactions that create a feeling of proximity and empathy with consumers.
• Communication – it is common for companies to focus on broad reach when communicating in new markets. The right communication strategy must combine channels and content to create emotional and cultural resonance.
• Culture and management – an often-overlooked dimension of brand globalization, culture and management are nonetheless critical to such endeavors. Building a global brand means create a culture of cultural empathy, openness and cross-border collaboration and maintaining the right management processes to sustain this culture.

As we can see, overseas brand growth required coordinated action across a wider range of items, all of which are highly practical and directly connected to short and long term business growth.

What are the steps and milestones for overseas brand growth?

Brand building in foreign markets, especially those geographically and culturally removed from the brand’s country of origin, is a long-term effort. A question often raised by decision makers is that of timing: which items to focus on in the short term? How to pace investment? What KPIs and milestones should be kept track of?

Based on these questions, Labbrand has developed a simple model outlining the key phases, work steps and strategic milestones for overseas brand building. Such a model can be used by brands at the start of their going global journey or by more mature companies to audit their progress and plan next steps.

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