Why should you want an analysis of a foreign market before entering it?
What I learn in the analysis
We focus on:
- An overview of the market.
- Search phrases (so-called keyword analysis), i.e. how people in a particular market search for the products you are targeting abroad.
- The size and maturity of the competition.
- Social networks - which are suitable for my type of business.
- A typical customer (persona) - for an e-shop and for a large engineering company.
- Opportunities in online and offline marketing - from PPC advertising to trade fairs and membership in chambers of commerce and clusters.
- Practical matters - taxes, setting up a business abroad or basic legal aspects of doing business in the country.
- Localisation - e.g. popular payment methods in the country (in the case of an e-shop)
- Summary of opportunities and risks of market entry (SWOT analysis).
By combining an analysis of the country's business environment with your specific type of business, we will prepare a comprehensive and tailored analysis to help you think through your expansion strategy.
Does it also make sense to do the analysis for engineering and manufacturing companies?
I'm sure it does. In practice, we often encounter the fact that manufacturing companies want to "test" a selected foreign market or are looking for distributors there. We can help here too. We have access to foreign databases where we are able to find potential distributors and mediate the first contact with selected companies.
Strategy and credibility
The analysis is usually followed by a specific strategy for entering the foreign market, accompanied by a timetable for how to practically implement the expansion. For companies looking for a distributor, in most cases we deal with the so-called microsite - a basic localized web presentation for the foreign market on the domain of the given country. Long-term successful companies gradually build their brand and develop their language versions in specific markets. And since credibility is one of the pillars of a successful entry into a foreign country, we place emphasis on it.
Free first tasting
Since no one likes buying something without being able to try it out, we offer our customers a free Check-In service. This is a taster of our analysis for one specific country. If you are thinking of expanding abroad, please contact us.