From: http://www.bizjournals.com
In January, after experiencing consistent growth, it was time for my company to consider expansion into the international market.
Aiming for success from the starting gate, I sought wisdom from Edward van Leent, who has been the chairman and CEO at EPI for more than 20 years.
This fast-growth company provides data center training, audits and certification. It has many offices throughout the world, including the U.K., two branches in the U.S. (opposite coasts), Japan, Malaysia, Dubai, India, the Netherlands and Singapore, which is now the global headquarters.
1. Hire Local Expertise
One major factor of EPI’s amazing success in the global market is their commitment to hire local staff with a deep understanding of the local market and culture.
You want to make sure those you employ are experts in their field, but more importantly, have a deep sense of the local culture and know how to relate to customers in ways that speak their language, literally. Instead of coming at customers from a distance, needing to be invited into the culture and region, choose people who possess the skills to deliver quality services but who are already invested and richly immersed in the culture.
As van Leent further explained it, “There are often challenges for American companies to scale quickly. People on the ground are more accustomed to local culture and will demonstrate more patience. It is ultimately more efficient and effective to hire locally.”
2. The Impact of Social Media
Having led EPI for more than two decades, van Leent has the advantage of seeing trends from firsthand experience. He saw a major shift in marketing after 2000 as a direct result of the great influx of social media.
Before 2000, van Leent said, companies were considered successful if they were able to satisfy 90 percent to 95 percent of their customer base. It was considered a waste of money to go after that five percent that was chronically unsatisfied.
However, since the influx of social media, marketing strategies have changed, and the reach toward those ‘unhappy’ customers has dramatically expanded, hence the aim is now for 100 percent customer satisfaction.
3. Stay Open to Change
Being willing to change with the times is important, van Leent stressed.
“You can’t just sell Hello Kitty dolls forever… that might be the trend in your region, for now, but it might be outdated soon in the local market or in another part of the world,” he said.
In his own company, he quickly realized with their first expansion what was working and what wasn’t. By closely listening to the business needs of local customers, they were able to quickly adjust services, adding some and keeping some exclusive for a particular region. Using this strategy, they have been able to consistently grow profits in their business while continuing to expand into new regions globally.
If you are considering entering the global marketplace but aren’t sure your company is ready, I hope the three secrets above can help propel you forward, or give you the insight you need to pull back on the reins until your company is ready to win.
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