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29.05.2023 10:04:00

Key steps of entering foreign markets

Key steps of entering foreign markets

Selection of foreign markets. First, you should find and analyze countries that are best for your particular business. To do this, identify market share, size of your target audience, and financial performance in your industry. After you have selected the first three countries, analyze them from a tax perspective (employment taxes, minimum wages, etc.) Then identify your main competitors, their value propositions, and prices for their products.

Checkup of key metrics. Analyze your business metrics, in particular: income per a potential customer, average time of a transaction, conversion rate, average check, customer lifetime value. Then you can test advertising with a small budget.

First step into a new market. Translate all documents, training materials and regulations into English and hand them over to the local responsible person. Then find people for key job positions. Top managers should be sought among local applicants, as they have better understanding of the country’s culture and mentality.

Creation and launch of website is another process important for the strategic approach. It’s better to localize your website according to your market and audience. And be ready to change the title or color, if needed.

Corporate culture. Be prepared for the fact that the way of thinking is slightly different in other countries, and try to take into account specific mentality features.

How to get to the fair

  • Fair location:

    Ukraine, Kyiv,
    Prospekt Beresteyskyi ave. (Peremohy), 40-B

  • Working hours:

    10:00 – 17:00

  • Phone:

    +380 44 456 3804

  • Metropoliten:

    М1 red line, Shulyavskaya station

  • Taxi:

    +380 93 012 3223