Gone are the days when there were barriers in reaching out to the people for marketing products and services. With the advent of technology and the development of new channels of communication, the older approach to marketing at a global level has undergone a paradigm change.
The recent innovation and use of digital technology have initiated global marketing strategies and practices and assured a global online presence for efficient users. Nowadays, the use of digital technology has made every marketing process easy, costless and efficient by making the digital tools widely available and affordable for many people.
With the ongoing pandemic, the base has been shifted to digital completely. The thriving companies are finding ways to become trusted resources for their key international audiences.
As the world continues to adapt to COVID-19’s global impacts, businesses have been turning their global marketing strategies to ensure that they’ll be in a better position to recover once the crisis is over.
Technology is the New Normal
These days technology is the ‘new normal’ although the role of technology in global
marketing is nothing new but the rate of adoption and innovation has accelerated over the
pandemic.
Even the marketing event industry is being permanently impacted by the forced adoption of
technology. A study by Bizzabo found that 97% of global events industry professionals expect to
see more hybrid events going forward. A key driver for this is that this method provides a more
cost-effective and efficient model of delivery.
Remote Working:
With remote working and online purchasing being the new normal, geographical location has
become much less of a barrier. For emerging markets, this accelerated digital shift could result
in significant innovation in the way the world buys and sells goods. This was evident when we
witnessed small markets growing because of the wide field and opportunities globally.
The pandemic has created a shared language and global conversation. Glocalisation is the
new globalisation. As companies take up the opportunity of working internationally the need to
understand how to apply this global strategy at a local level still applies.
Apart from the geographic area and size of the market, there are other things that influence this
factor. Every culture and ethnicity may have an entirely different response to the same
product. You need to have a strong and professional team of researchers who are experts at
business analysis.
As every region has a specific target group, ethics, values and culture, it is important to
understand the nuances across geographies as people don’t follow brands to see paid ads on
their feed, they follow for – entertainment, education or to get the help they need and in all these
factors, brands ought to understand the market social and economical behavior.
Global market research helps to understand the customer needs are different, so are the ways
of reaching them.
Our on-boarded client and cardia health tech brand has its headquarters in the US and to
penetrate into new markets like Korea and India, the strategy was different. We did considerable
research on both markets while Korea ( given the size of their population) largely had
knowledge of heart health monitoring, Indian market was not largely yet aware of remote
cardiac monitoring, the need was to educate the market before we start selling. A different
approach was taken for different markets yet keeping the global brand image intact.
For companies in industries that have been excessively impacted due to covid, it’s more about
the long game. They can still succeed by approaching their audience with empathy, finding
opportunities to add value, and keeping their brands and products in the picture.
One thing is for sure, understanding people and keeping abreast of changes within each country
is essential. Empathy is the key and it is imperative if you want to be remembered for all the
right reasons.
Global marketing is the future and is here to stay, and those who recognise its potential at an
early stage will remain ahead of the curve.
Prepared for every change, Epic India Group is working across geographical locations
with a great network to support, we are here to help you in the journey ahead. Connect
with us for more!