By Nicholas Lord – 360 Direct marketing analyst
The world is a much smaller place than it was even a decade ago. Now more than ever, new markets are emerging as more and more countries open their doors for trade. As a result, international marketing is becoming more and more relevant in our world. With international markets come new challenges in business and marketing; what works for a particular demographic in one country might result in a negative outcome in another. Among other matters, cultural practices, governments and laws, social values and languages must all be considered. This is especially true when you’re trying to reach out to international consumers. And the globalization of markets, hastened by the advent of and extensive use of the Internet, are continuously shrinking that world and are bringing the parts of it closer together.
Knowing exactly who and what your target market is is rudimentary, yet too often overlooked. Many businesses take mild success for granted. They’re OK with simply being “in the black,” and fall into the rut of doing the exact same thing everywhere. Much greater success can come from thinking globally and applying your efforts locally, taking a laser-like approach to your markets.
Take for instance, the lesson of the Chevy Nova, even though it may not be true. As the story goes, the Nova was a pretty popular car here in the states, and it’s name comes from the Latin for an exploding star. However, in the Spanish language the phrase no va literally means “doesn’t go.” This of course, is not the association that a car manufacturer would like for a product it planned to sell to Hispanic markets.
Coca-Cola and Pepsi made similar mistakes when they began marketing in China. According to Writing magazine, the Chinese characters for the phonetic translation of Coca-Cola (ke-kou-ke-la) translates to “female horse stuffed with wax” in one dialect, and “bite the wax tadpole” in another. Similarly, Pepsi’s slogan “Come Alive with the Pepsi Generation” translates to “Pepsi Brings Your Ancestors Back from the Grave.”
You may be saying to yourself, “Why should I have to worry about what’s going on in China or Mexico or Zimbabwe? My business is a hometown business, and I don’t plan to expand overseas.” Applying global thinking and cultural consideration to your local market can greatly increase your success. In such a close and cozy little world, this is a very important element in marketing your business.
More than one third of the world’s population comes from China and India, but we need not look overseas to see how diverse your customer base can be. Think for a minute about what makes up Milwaukee. In this city alone, there are tremendous cultural and lifestyle variations. According to a 2008 Journal of Advertising article, 20% of U.S. consumers are bi-lingual, and two thirds of the world’s children come from bilingual households.
As the world grows smaller and closer together, people look for more and more ways to avoid getting lost in the amalgamation. We are seeing resurgences in native languages not only in foreign countries, but within the U.S. as well, along with an increased importance in maintaining strong cultural heritage. Because what works for one does not necessarily mean it will work for another, it is especially important in marketing to recognize these aspects of your local market segments so that you may focus your efforts and receive greater returns. Wal-Mart failed to succeed when it attempted to open in Germany in 2006 because they didn’t adapt their business to the different business culture. Don’t fail to apply this lesson your diverse markets here at home.