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You’re probably quite excited about the potential rewards of expanding your business globally. It offers the opportunity to reach new audiences, establish a worldwide presence, and tap into a wealth of markets. That said, it also comes with a unique set of challenges, from language barriers to cultural differences that must be navigated carefully.

The good news is that you can take your enterprise to the next level with proper planning, understanding, and execution. ShipSaving shares some fundamental tips and resources for succeeding in your international expansion:

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Sorting Out the Supply Chain

Supply chain logistics are perhaps one of the most challenging aspects of a business expansion. Consider these practical tips for navigating the process:

• Research various shipping options for the products you offer, and select the most cost-effective and reliable carrier.
• Develop relationships with local providers or customs brokers to ensure your goods are smoothly imported into foreign markets.
• Partner with a reliable logistics provider that can handle all aspects of your supply chain — from point of origin to destination (including storage and delivery).
• If you determine that you need additional business funding to ensure everything runs smoothly, be sure to check your credit report before applying. 

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Staying Compliant

You must ensure your business complies with all the rules and laws in your new area. Otherwise, all your hard work for the expansion could prove to be in vain!

• Make sure you’re familiar with the specific laws and regulations that apply to your industry in the new market.
• Find a local law firm to provide advice on how to comply with relevant rules and regulations.
• Establish your business legally and keep up on all taxes and fees. You can use a formation service to ensure everything is filed correctly. 

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Localizing Your Content

Your marketing content may work well in your current markets, but how will you reach people in your new ones?

• Take the time to research your target audience, including cultural norms, language conventions, and other factors.
• Utilize translation services that can accurately convey your content's meaning in other languages.
• Invest in localization software to ensure your content is adequately localized for each market you enter.

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Other Technologies To Consider

Here are a few other types of technology that can help you flourish during the expansion and long thereafter:

• Project management software can help all your teams stay connected and on task no matter where your employees are located.
• Decide whether you will serve businesses, the general public, or both! There are great solutions for e-commerce if you choose this more complex business option.
• CRM software can help your business manage customer relationships globally to create strong bonds with customers worldwide.
• International marketing automation can help your enterprise personalize its marketing campaigns to different target audiences in multiple countries. In other words, this type of platform can help you reach more customers!
• Analytics software can help your business track and analyze customer data from around the world, allowing your teams to gain deeper insights into your customers’ needs and behaviors.

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Embrace the Possibilities of Global Marketing

Expanding your business into the global market has a plethora of advantages, from reaching new customers to tapping into untouched markets.

While the rewards are vast, however, it’s crucial that your business knows how to properly prepare for the process. By implementing the tips above and finding other ways to plan your steps, you can take your enterprise to an international level successfully and exceed even your loftiest expectations!

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