5 Tips To Succeed In Global-marketplace se


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5 Tips To Succeed In Global-marketplace se

  1. 1. 5 Tips to Succeed in the Global MarketplaceThis article was originally published on the Acclaro blog.Category: Global Trends, Localization Tips, International Business Sentiment is running high among international traders, with more than half (56%) confident that trade volumes will be higher in the next six months, according to an HSBC survey of 5,124 exporters, importers and traders in 17 different markets. According to the investment website, The Street, theyre encouraged by the reality of emerging markets, especially China, noting that these offer tremendous opportunities for businesses of all sizes.Though intraregional trade between the U.S. and Canada continues to build, with 86% of U.S.businesses saying they trade with Canada the most, there is even more enthusiasm aboutexpanding business south of the border. Latin America was listed as the most promising regionfor trade growth in the next six months, followed by Greater China.Below are five of our favorite tips from The Street on how to tap into these markets.1. Know where the opportunity is. What countries are experiencing economic recovery at afaster pace? Which markets would be the most receptive to your goods or services? If these twomatch up, thats a clear target for your company.2. Do your research — maybe even identify some key contacts on the ground in that country."You really need to understand the culture and the customs of that marketplace, how they dobusiness, their needs and the process," Mont writes, citing the VP of HSBCs North Americanbusiness banking unit. He recommends finding 10 good companies that you think would beappropriate partners and set up time to meet them.3. Make sure you get paid. Familiarize yourself with the local currency, and make sure thatyour local partners have enough available cash to support any transaction that you make. Wereused to getting paid more or less on time in the U.S., but thats a cultural assumption. In Italy,for example, delays in account receivables are the norm.Page 1: 5 Tips to Succeed in the Global Marketplace Copyright © Acclaro 2012
  2. 2. 4. Services are in demand, too. American companies often think that tangible goods are theonly thing you can successfully export to international markets. Consulting services are in highdemand, as many foreign countries value the research-focused skills that American companiescan offer.5. Arm yourself internally with multilingual talent. Having employees with linguistic skillsand cultural understanding will help you understand and adapt to the nuances and conventionsoften present in international communication. This too is becoming more standard: some 86%of UK employers believe languages are an important skill, according to recent research by EuroLondon Appointments (via The Independent).Companies underestimate the complexity of selling beyond their linguistic borders, notes onemarketing consultant. Supplementing your translation agency with a multilingual internal teamwill give you the extra edge needed to succeed.photo attribution: leoplusAbout Acclaro: Acclaro is an international translation and localization company thathelps the world’s leading brands succeed across cultures. We specialize inwebsitetranslation, marketing campaigns, documents and software localization to give clientsan authentic voice in key language markets. North America: 1-866-468-5106 Worldwide: +1-914-468-0222 www.acclaro.comsales@acclaro.comPage 2: 5 Tips to Succeed in the Global Marketplace Copyright © Acclaro 2012