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BizReport : Ecommerce : January 04, 2018

Top 4 tips for global expansion

With more of the world connecting via the Internet, the time is ripe for brands to expand out of their state, country, or region. But, though connectivity has reached nearly the entire globe, there are still pitfalls in conducting a successful global brand expansion. Here are four tips for brands to strategize a successful global build.

by Kristina Knight

Understand the unique, local market

"Before expanding globally, do your research. Familiarize yourself with these new markets. The way business is conducted or the way people interact is very different region by region. Eyeota operates globally so it's crucial for us to understand the rigorous standards of local data collection and data privacy regulations in each region, ensuring that we are providing high-quality, accurate data sets," said Kevin Tan, CEO and Co-Founder, Eyeota.

Create localized strategies

"Business strategies and tactics will not translate seamlessly, so it's important to acknowledge and approach this with due diligence in order to be successful. For example, conducting business in the U.S. can be more direct and straightforward, while in the UK time is spent on building and fostering relationships," said Tan.

Hire the right people; train them properly

"Hiring the right people can be a challenge, and even more so in unfamiliar territory. Take your time to find the right people. Smart and experienced people are hard to find, especially in highly competitive industries. Taking the proper steps in hiring goes a long way for a company, no matter the industry," said Tan.

Gear up for ad tech expansion in APAC

"APAC is on a growth trajectory in terms of digital ad spend. When we first launched Eyeota in Asia and Australia, we saw an opportunity in a fairly nascent industry. Now, programmatic is becoming more prevalent, and we'll see more companies expanding into the region. But because certain countries are harder to penetrate, either due to stricter guidelines or tough competition, it's important to do your homework," said Tan.

Tags: advertising, digital business, ecommerce, Eyeota, global brand expansion

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