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Digital and Social Media Supported Internationalisation
The document discusses the challenges and barriers SMEs face in internationalization, highlighting that despite nearly 30 years of research, the same issues persist. It emphasizes the importance of leveraging digital technology and social media to overcome these barriers and provides ten action points to facilitate SME internationalization. The conclusion calls for a radical rethink of export strategies to adapt to a connected world, where digital presence is crucial for success.
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Digital and Social Media Supported Internationalisation
- 1. ENERGISE2-0.COM Digital/Social Media Supported Internationalisation Dr. JimHamill www.energise2-0.com @drjimhamill November, 2013
- 2. A Step Backin Time ENERGISE2-0.COM
- 3. 1986 Public policy question:How do we encourage more of our SMEs to become global in orientation and strategy? Numerous research studies identifying the main barriers or obstacles preventing SMEs from expanding abroad ENERGISE2-0.COM
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- 5. 2013 Almost 30 yearslater we are still asking the same question, still doing the same research We even have research papers researching the research ENERGISE2-0.COM
- 6. 2013 Questions Is ittime for a radical rethink of our approach to SME internationalisation? Do we need Export Support Policies and SME Export Strategies ‘fit for purpose’ in a Connected World? ENERGISE2-0.COM
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- 9. Why Now? Social Media+ Connectivity + Mobile + The Cloud + Big Data + Gen C = The End of Business as Usual ENERGISE2-0.COM
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- 11. The Connected Customeris also the Connected Employee ENERGISE2-0.COM
- 12. Connected Employees • Fiftyper cent of the world’s population is under 30 years old • Digital natives and digital immigrants = majority of the workforce • Impact on the world of work? ENERGISE2-0.COM
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- 14. Digital and Internationalisation Usedeffectively, Digital Technology and Social Media can help to overcome many of the ‘traditional’ barriers to internationalisation facing SMEs But only 10% of Scottish companies have a clear Digital Strategy to support internationalisation (The State of Digital Scotland Survey, 2012) ENERGISE2-0.COM
- 15. New Evidence ‘Scottish ExportSurvey, 2013’ • Only 7% of surveyed companies claimed to have a welldefined digital/social media strategy to support internationalisation • However, 58% were ‘actively learning more about social media’ or ‘beginning to develop a digital/social media supported export strategy’ ENERGISE2-0.COM
- 16. Recent Developments Evidence ofsome recent developments in this area but based on a ‘build it and they will come approach’ ENERGISE2-0.COM
- 17. Digital/Social Media Supported Internationalisation 10Action Points ENERGISE2-0.COM
- 18. 1. Know YourMarket Use of digital and social media for Export Market Research and assess your readiness to export ENERGISE2-0.COM
- 19. Wide Range ofResources Available ENERGISE2-0.COM
- 20. 2. Shut Upand Listen Set up a Social Media Listening System Develop your export knowledge and keep an ear to the ground for export opportunities ENERGISE2-0.COM
- 21. Social Media ListeningSystem • Lack of foreign market knowledge and limited resources for export market research/country screening are two of the main barriers to SME internationalisation • Used effectively, Social Media Monitoring Tools can help to overcome these barriers • Online conversations are already taking place relevant to your business, your brand, your industry. Are you ‘listening’? ENERGISE2-0.COM
- 22. Social Media ListeningSystem ENERGISE2-0.COM
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- 25. 3. First ImpressionsCount What does your current web site/social media presence say about your company your brand to potential international customers? Are you happy with your digital footprint? ENERGISE2-0.COM
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- 27. e-Marketing for InternationalMarkets ENERGISE2-0.COM
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- 29. 4. Tell YourStory Do you have an agreed Social Media and Content Marketing Strategy for ‘telling your story’? ENERGISE2-0.COM
- 30. Content Marketing Content Marketingis the new Export Strategy ENERGISE2-0.COM
- 31. The Elevation Principle GreatContent + Other People – Marketing Messages = Growth ENERGISE2-0.COM
- 32. Great Content IgnitesYour Business ENERGISE2-0.COM
- 33. Create Music NotNoise ENERGISE2-0.COM
- 34. Build Your SocialMedia Presence In a digital era, success in international markets will depend on: • The quality of your online network • Relationship strength • Ability to leverage that relationship ENERGISE2-0.COM
- 35. 5. Build Relationships Relationshipsand network marketing have always been critical to export success Social media is relationship marketing on steroids ENERGISE2-0.COM
- 36. The Importance ofKey Influencers ENERGISE2-0.COM
- 37. 6. Participate inInternational Networks ENERGISE2-0.COM
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- 39. For the OilIndustry ENERGISE2-0.COM
- 40. Groups & Forums •Search, Join, Lurk, Participate in Social Media Groups/Forums ENERGISE2-0.COM
- 41. 7. e-MarketPlaces Participate ine-marketplaces where appropriate ENERGISE2-0.COM
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- 43. 8. International TradeMissions Jump on a plane and sock it to them – but use social media to build the right contacts first ENERGISE2-0.COM
- 44. Support International TradeVisits ENERGISE2-0.COM
- 45. 9. Internal SocialBusiness Use social technologies internally to improve internal efficiency, reduce costs, build an innovative customer led company ENERGISE2-0.COM
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- 48. Are You ExportReady? Internal use of social technologies can make you….. And improve ENERGISE2-0.COM
- 49. 10. Measure Performance Shouldbe undertaken at three main levels: • Individual social media channels • Overall ‘buzz’ • Business Impact A wide range of performance measurement tools and apps are available ENERGISE2-0.COM
- 50. Conclusion • Are wein danger of becoming a dinosaur nation in terms of global markets? • Digital Darwinism ENERGISE2-0.COM
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- 53. It’s the mostadaptable that survive ENERGISE2-0.COM
- 54. No business istoo small to succeed ENERGISE2-0.COM
- 55. Are we readyto evolve? ENERGISE2-0.COM
- 56. Export Planning Pays •Agree Vision, Strategy, Objectives, KPIs and Targets • Plan the Work and Work the Plan • Be ‘Customer Led’ – Who are my customers? – Where do they hang out online? – How can I best engage with them? ENERGISE2-0.COM
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