You have spent the last few years building your e-commerce business and have finally decided to take the plunge and expand globally. Congrats! But, there is a lot more work to do. Having a store, especially one that sells globally, in different countries and cultures, requires a lot of planning and research.
In this article, we will walk you through the steps involved in creating a global test marketing campaign so that you can hit the ground running when your store opens in new markets.
Step one: Identify the target audience
The first step in launching a successful international e-commerce business is to identify your target audience. When we say target audience, we mean the individuals, groups, or communities that you intend to reach with your marketing campaigns. So, it’s important to define your target audience before you begin crafting your global marketing strategy. You can simply download a free tool like Marketo, which creates an entirely new group for you called “Global Test Market”, and begin creating personas and target marketing lists. You will find a whole section in the tool for this very purpose.
Step two: Define key performance indicators (KPIs)
The next step is to set key performance indicators (KPIs) for your test marketing campaign. KPIs are measurable metrics, usually quantifiable, that you can use to determine the effectiveness of your marketing campaigns. For example, if you are testing the value of organic vs. paid search and you see that 80% of your revenue comes from organic traffic, you might decide that this is the key metric you need to be tracking. Setting KPIs is important because it helps you determine the success of your campaign by presenting data that is easy to understand. For the previous example, if you set a goal of getting 20% of your revenue to come from organic search, simply follow the data and you will know if you are making progress towards that goal.
Step three: Set a benchmark and review metrics regularly
Set a benchmark and review metrics regularly. This is a simple step but one that is often overlooked when setting up a new e-commerce store. The reason is that people are so focused on getting the store opened that they forget to regularly review the numbers and see if they are improving as expected. To prevent yourself from falling into the same trap, set a benchmark and review metrics regularly, at least once a month. Look at the previous example again. If you set a benchmark of getting 20% of your revenue to come from organic search, you will be able to see when you are progressing towards that goal (incremental progress). When you set a benchmark, you are setting a direction for your business. So, if you expect your search traffic to one day account for 20% of your total revenue, then that is what you should aim for. But, you also need to be aware that it takes time to achieve this figure. Set a benchmark but don’t set a date for yourself to meet it. Instead, set a date for yourself to review the KPIs and see how you are doing relative to what you set out to achieve.
Step four: Identify the key performance attributes
The final step in defining your global marketing strategy is to identify the key performance attributes (KPAs) that will allow you to track the success of your campaign. KPAs are the specific things that you will need to focus on in order to improve your metrics. So, in the previous example, if getting 20% of your revenue to come from organic search is your key performance indicator, then you will want to look at ways to increase your organic search traffic.
Once you have identified your KPIs, you can begin to set up tracking parameters so that you can accurately measure your performance. The great thing about setting up these parameters is that it will allow you to easily compare your performance across marketplaces and channels. This way, you will be able to determine what is working and what needs to be changed. When creating tracking parameters, make sure that you consider how other businesses in your industry will respond to your efforts. This will enable you to choose the right approach and measure the results of your efforts correctly. The wrong approach can lead you to making the wrong conclusions. If you follow the above advice, you will ensure that your test marketing campaign will be a success.
Setting up your international e-commerce store doesn’t have to be difficult. With a little bit of research and some clear goals, you can ensure that you make the right decisions and track the results of your efforts accurately. While we couldn’t cover every step of the process in this article, we hope that this article will help you in your endeavor to conquer the globe. If you found this article valuable, check out these next steps below to finish creating your global e-commerce store:
Set up your shopping cart software
The first step in taking your store global is to set up your shopping cart software. There are numerous online marketplaces, such as Shopify and Big Commerce, that can be used to set up an international e-commerce store. These kinds of platforms have already been set up for businesses that are globally dispersed and allow for the management of your wholesale and retail operations across multiple locations.
Shopify and Big Commerce are probably the most popular platforms for creating an e-commerce store, and we recommend them both. Not only do they make setting up your store easy, they also provide you with the tools you need to be able to operate it effectively. Plus, they have a global presence, so there are experts available to help you regardless of where you are located. Setting up your store with one of these platforms is the simplest and most convenient way to be able to expand internationally. Especially if you are just starting out, setting up your store with one of these platforms is a no-brainer.
Decide which markets to enter first
Now that you have set up your storefront and are ready to begin marketing and selling your products internationally, you need to decide which markets to enter first. It is extremely important that you enter the marketplaces that you know will give you the best opportunity to succeed. If you enter a market that you feel is not right for your company, you will waste a lot of time and money without any indication of whether or not your efforts are paying off. You should enter markets where you feel that you can easily grow to the point of becoming profitable. Entering new markets can also be a good way to gain exposure and see how your product or service can be successful in other markets. The key is to make sure that you enter markets that you feel confident that you can dominate. When picking your markets, it is important to consider the size of the market, the demand for your product or service in that market, as well as the size of your competitors. You should enter markets that you think are currently under-served and where there is a large untapped audience. If you can become the go-to source for your product or service in a certain market, you will be able to command a large amount of revenue and be able to grow your business quickly. If you need more advice, here are a few places you can find detailed information about international e-commerce marketplaces and the ideal approaches for entering them:
Choose the right branding for your product
Branding is crucial to the success of any business. When someone sees your logo, website address, or other branded trademarks, they will instantly recognize your product. When it comes to expanding your business internationally, especially in emerging markets, choosing the right branding can mean the difference between success and failure. In order to choose the right branding for your product, consider the following: