Hi, this is our series on how to run a business. We develop it to share with you our experience and put together what we learn studying and meeting best entrepreneurs. Let us know your questions and subscribe. Today we are talking about how to make your e-commerce business fit EU market.
What if I say that now you can have an access to almost 500 million market? If you enter the EU market – here you go. Europe is one of the largest economies in the world. It is growing, stable and can pay well. But before you enter to EU market, prepare and at least do the following:
1. Target right country and define which market platforms are the most relevant
Consider the needs, size and scale of your audience in all countries where you are going to market your business. Define which place best fit your needs.
2. Learn about culture specifics of your target country
EU has different cultures and languages depending on the countries. Exploring culture of market where you entering will help you to build appropriate marketing strategy and ways of reaching the customers. For instance marketing in Spain or Italy might be way different than marketing in Poland or Germany. Also culture differences might be within one country as in Italy. Similar situation is with languages. Explore what languages your audience speak and create the most effective messages.
3. Be original and consider European marketing trends
More and more Europeans tend to follow healthy lifestyle, pay attention to environment problems, use more bio products, natural materials, avoid plastic. For ex. companies in Europe are more willing to increase production costs for ecological reasons than let’s say their colleagues in US or Canada. Define trends that best fit your business and use them in your brand awareness campaigns.
4. Plan ahead
Estimate costs and time you need to enter the EU market. In some countries and industries, it might be a long and complicated process.
5. Build your network
Contact embassy of a country where you are going to invest. They might give you valuable information about necessary steps & procedures. Also, an embassy might help find connections like local organizations, NGOs, potential partners etc. Use this opportunity to ask for support as an foreign investor. In this case success depends on your business specifics and your communication skills. Build your network by connecting on social platforms like LinkedIn or other channels. Reach your friends, colleagues, potential clients and let them know about your business. You can use your social media to exchange questions and find right answers.
Thank you guys for reading this article. What e-commerce do you run? Or what ideas do you have for your company? Leave your message and let us help you with your questions!