Successful Retailers are Expanding Into Global Markets in 2017
Discover best practices to help your company earn new market share next year.
If you're looking for more reasons to expand your online business into international markets, we just found 21 of them. Between 21 and 30, actually.
According to a 2014 ChannelAdvisor survey of more than 200 online retailers based in the U.S. and UK, nearly a third of respondents reported that 21% to 30% of their online sales hail from international marketplaces. And that number has undoubtedly grown since then.
Indeed, with up to a third-or conceivably more-of an e-retailer's revenue hailing from global markets, the opportunity is impossible to ignore. Retailers who've been following this trend know that international engagement and revenue has steadily increased over the past decade.
Serving customers in new international markets is fast, worry-free and affordable, thanks to MotionPoint's platform and technologies. Our solution can deploy your company's website in several languages for international markets-and then optimise their performance in those markets, to generate more sales.
As your organisation moves into the new year, consider these insights and best practices gleaned from MotionPoint's experience, and other resources such as ChannelAdvisor's survey, other ChannelAdvisor content, and Forrester. They might help your company's domestic and international e-retail endeavours a success in 2017:
Speak the Language: “Translation should be at the core of your expansion plans,” ChannelAdvisor suggests in another white paper. Further, the company cautions: “Listing your products in English limits your reach to a wider audience of ready buyers.” Forrester Research data suggests overseas e-commerce markets will continue to experience double-digit growth each year until at least 2018.
A Welcoming Feel: “Think of your website as the welcome mat for your company,” one ChannelAdvisor document says. Does your site’s web store look professional? Can customers easily find the products they’re looking for? Is it easy to complete a purchase? Go the extra mile to create a trustworthy and effortless shopping experience.
Provide Resonant Localizations: For international customers, that welcoming feel and “extra mile” should include resonant localizations. We’ve found providing tailored in-language salutations, customer service options, promotions and calls to action, helps deliver an experience that builds trust with international visitors. Presenting localised content showcases that you value their interest and business-and by speaking their language, your site eliminates barriers between your new customers and your products. MotionPoint's solution makes this kind of localisation easy to implement.
Try Mobile Advertising: Almost half of ChannelAdvisor’s surveyed retailers (40 percent) reported that up to about a third of their current web traffic comes from mobile devices. Further, nearly 90% of these successful retailers believe that mobile traffic will continue to increase in the future. These companies are taking the opportunity seriously: 75% of them considered increasing their mobile advertising budgets to be a short-term goal.
If you’re looking for more best practices, or more insights into connecting with new international markets, don’t hesitate to contact us. We love to talk shop, and help our clients find new customers around the world.