Global Marketing
Global marketing is a broad concept that includes all the
processes necessary to sell a product in international markets. It involves the
processes of a company planning, manufacturing, locating, localizing, and
promoting its products in a worldwide market.
Until recently, only large companies were selling in
international markets. With the effective use of the Internet all over the
world, small businesses have now become players in global markets. Many small
and medium-sized companies can reach customers all over the world with
e-export.
Even if any company is not involved in global markets, it
may have to struggle with foreign companies in domestic competition. This
competition has led most businesses to international markets. Global marketing
is a general definition that covers all concepts that arise in this process.
Universal products such as food and automobiles are important in global
marketing. However, with the influence of developing technology, many different
and niche products have entered the global markets. However, many companies
around the world still focus on domestic markets.
The Importance of Global Marketing
Marketing; To analyze the market well, to determine what
consumers want and to hold on to the market with correct pricing. Then the
processes of producing and selling the product come into play. Global marketing
is a part of marketing that includes all these processes. Global marketing is
crucial for companies that produce or sell products and services that have
worldwide demand. For example; Smartphones, automobiles and food products have
universal demand. So, people buy such products in international markets.
Global marketing involves many different products and
opportunities. For this reason, it is impossible to define a single customer
profile. A global company has to develop multiple profiles for each region in
its business in different regions. Depending on the product, it is now possible
to reach customers almost anywhere in the world. For this, global companies
cooperate with local distribution networks. Some companies are able to
establish their own networks as they grow in certain markets. Companies trying
to enter global markets tend to start with densely populated urban centers
first.
An e-export company can reach any target market in the world
through an online store. There are dozens of initiatives, hundreds of
organizations and thousands of tools that support this process. What needs to
be done; is to convince customers in the target market that the product or
service offered is worth purchasing. At this stage, global marketing comes into
play. Thanks to the Internet, cross-border e-commerce has become a part of
global marketing.
Things to Consider in Global Marketing
Global marketing is an area that requires special effort. It
requires processes developed by marketing professionals. Many strategies can be
applied in global marketing. Which strategies will be implemented depends on
the company's goals.
Important points to consider in global marketing are:
• It is not enough for companies that want to enter global
markets to just offer a good product to the market. They need to develop a
marketing strategy that suits the language and culture of the market.
• Marketing strategies implemented by companies in the
domestic market may not be as successful in global markets. For this reason,
market-specific strategies should be developed.
• A different pricing strategy must be applied in global
markets due to differences in local competition.
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• Local technological and logistics infrastructure; It is of
primary importance for factors such as the production of products, and their
inclusion in digital processes and/or delivery.
• In some markets, it is more profitable to use local
facilities or local solution partners for production. In some markets, it may
be less costly to produce the product at the company headquarters and ship it.
• Partnerships with local businesses can be an important
step in expanding into a single market; but in another market such partnerships
could damage the brand.
• Global marketers who want to take professional steps
should consider all aspects of marketing by establishing intercultural
communication.
• A global company must carefully research various markets
and be prepared to make changes to its products, messaging, packaging and
branding as necessary.
• To present a product or brand to global markets, a good
message or slogan must be presented to the consumer. However, not every message
will perform well due to differences in the target market's cultural values or expectations.
• E-exporters who want to be players in global markets
should focus on the language of the market to manage business relationships
with local companies. For example; The website or websites used in the region
should be localized with the support of local stakeholders.
• Marketers should personally visit target markets; One must
live there for a while to know that market well. Local contacts should be
developed during these visits; Research should be done on how business is
carried out in the region. Cultural sensitivities in the region should also be
learned in these studies.
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Search Engine Optimization
SEO is the abbreviation of “Search
Engine Optimization”. It means "Search Engine Optimization" in India. SEO is the practice of optimizing web pages to rank highly in the
search results of Google or other search engines. SEO focuses on improving
rankings in organic/non-paid search results. One of the most important parts of
the marketing strategies of a website that wants to get more traffic is SEO. It
is important to make SEO plans when building e-commerce sites.
What is SEO?
Search engine ranking is a race. Those who come in first
place are ranked and always win. Sites ranked in the top three results have
click-through rates of 10 percent to 30 percent. The click-through rate of the
site in ninth place is 2 percent. A website that does not appear on the first
page with the searched words cannot reach its full potential. At this stage,
Search Engine Optimization comes into play.
SEO is an umbrella term that covers every action brands take
to drive organic traffic to their websites from search engines. Besides
technical aspects such as site architecture, it also includes different
elements such as content creation and user experience.
SEO is a dynamic goal even for experienced
digital marketers. Myths and algorithms are constantly changing. SEO
tactics that once worked very well for sites can now lead to negativities. To
optimize a site, it is necessary to know how search engines' algorithms work
and how real people react to website content.
The Importance of SEO for E-Commerce Sites
SEO has a very important place among e-commerce marketing
tactics. No matter how large the business is, SEO is needed for successful
e-commerce. SEO ensures that the e-commerce store attracts attention in the
huge search engine pool and is visible among millions of sites.
If the e-commerce site is not visible to the target
audience, the online store will be meaningless. If the e-commerce store does
not rank on the first page of Google, it will not receive any traffic from
Google. Therefore, SEO is a key term to increase the visibility and online
traffic of the e-commerce site. SEO, which improves the ranking of the
e-commerce site in search engines through various optimizations, helps the
target audience easily find the online store.
The following information reveals the importance of SEO for
e-commerce sites;
• SEO is the only way to generate organic traffic on an
e-commerce site. This method of getting traffic is especially advantageous for
small e-commerce businesses with tight budgets.
• Paid advertising on search engines increases e-commerce
site traffic; However, this application is not long-lasting. In other words,
SEO should also be implemented along with digital ads.
• SEO is an investment for e-commerce
sites. For a return on this investment, on-site and off-site SEO factors
must be optimized for the site.
• Avoiding search engine optimization can make it impossible
to achieve e-commerce goals.
• According to research, thanks to the SEO strategies
implemented by the e-commerce site, 25 to 30 out of every thousand people who
enter the site become new customers.
• SEO strategies are a time-consuming process; However, it
can provide long-term or sustainable traffic to the e-commerce site.
Things to Know About SEO
• The ranking of search results is determined by Google's
algorithm.
• On-site factors of SEO; Factors such as software quality,
site speed, website structure and the quality of the content on your website.
• Off-site factors of SEO; Factors such as links from other
websites, social media engagement and digital marketing activities.
• If a website is better quality than its competitors in all
aspects, Google wants this site to rank higher in the results.
• Approximately 4 billion searches are made on Google every
day. The search engine crawls an estimated 2 billion websites and returns
relevant results in under 0.5 seconds.
• A search engine must do three things to return relevant
search results; creating a list or index of web pages, instant access to this
list, and deciding which pages are relevant for each search.
• It is useful for SEO to include the most searched keywords
in search engines about that subject in a text on a subject on websites. The
term “SEO compatible text/content” is used for this application.
• Copy text content reduces the ranking of websites in
search results, while original and rich content increases the ranking.
• A website that loads quickly and works properly is an
important factor that search engines take into account.
• User experience plays a role in search engine
optimization. For example; The more time the user spends on the website, the
more it affects search engine rankings.
What Should E-Commerce Sites Do to Rank at the Front of
Search Results?
There are many SEO practices to rank at the top of search
engine results such as Google. In this regard, search engine software can
provide a vision by focusing on user behavior. First, you can start by
designing the e-commerce site architecture with an SEO-compatible structure.
But some points to consider to be at the top of the engine
results are as follows:
• For organic traffic, the keywords that potential customers
use to search should be analyzed. It is necessary to focus especially on long
search queries.
• Necessary SEO settings should be made in the
infrastructure of the site.
• The content on the site should be written in SEO
compatible manner. Content should contain keywords appropriate to the topic and
be original. Content containing rich information along with originality is
likely to appear at the top of search engines.
• The content and data on the e-commerce site should be kept
up to date.
• Analyzes should be made such as the SEO tools used by
rival sites, their superiority in terms of SEO, and which keywords they use to
get organic traffic.
• Search trends should be followed; If necessary,
applications that analyze search trends should be used.
As the information society progresses, digital marketing is
essential for making your products and services widely known. Staying on top of
digital marketing trends will not only help you acquire new customers smoothly
but will also deepen your relationships with existing customers. This time, we
will explain the trend predictions for digital marketing in 2024.
What was the digital digital marketing like in 2023?
What kind of digital marketing trends will be in 2023? Here,
we will explain the changes and trends in digital marketing in 2023.
The digital marketing market is expanding rapidly.
The digital marketing market is expected to reach 35.9
billion US dollars (approximately 5,257.6 billion yen in Japanese yen) by 2027.
Source: Overview and competitive analysis of Japan's digital advertising
market,
This is because due to the influence of the virus, the use
of IT in various fields has progressed and it has become more accepted by
society. With the introduction of IT tools, some people may be able to
experience improvements in work efficiency and productivity, even in areas that
could only be handled using analog methods.
This is because the spread of the new coronavirus has made
face-to-face customer service and sales difficult, and companies have begun to
focus on marketing mainly through digital means such as websites, SNS, and
video distribution.
Full automation of digital advertising
2023 will be a year in which automation has made significant
progress. Automation of creative production and distribution is making great
strides. Full automation of advertising allows AI to learn existing data about
products and customers, approach the appropriate target group, and
automatically perform the flow of advertising.
The advantage of this system is that it provides more
accurate advertising by providing high-quality data, allowing efficient
marketing even in the advertising industry, which is understaffed.
In 2023, full automation of digital advertising will become
a reality thanks to the rise of AI technologies such as ChatGPT. Full-funnel
advertising menus and automatic generation of advertising creatives through
data linkage enable efficient advertising.
It has also become possible to use predictive targeting,
which uses AI to predict which customer groups are most likely to make
purchases, instead of traditional marketing methods that target specific
customer groups.
The growing importance of content marketing
An increasing number of BtoB companies are placing
importance on "content marketing" to acquire customers through means
other than advertising. One of the reasons for this is that with the
advancement of online shopping, voluntary actions on the part of buyers, where
customers search for products and services they are interested in and
ultimately reach business negotiations and contracts, have become mainstream.
As a result, seller-side companies have begun to focus on
creating content that meets customer needs. By disseminating high-quality
content, people who were not customers up until now are becoming interested and
searching, which is increasingly leading to purchases.
people moving away from advertising
The problem is that while digital advertising is increasing,
we are now overloaded with information. Due to information overload, it is
difficult to attract attention to the overflowing advertisements, and people
are turning away from advertisements. People rarely look at each advertisement
carefully, so even if an advertisement is posted, it is difficult for people to
remember it or get the message across.
As a result of the shift away from advertising, purchases
from official company accounts and influencers from all walks of life are on
the rise. Increasingly, people are purchasing products and services after
viewing social media posts, short videos, and connected TV ads.
Connected TV ads refer to ads that appear on TVs that are
connected to the internet. These advertisements are receiving increasing
attention as more and more people use their TVs to access video streaming sites
over the internet rather than watching TV programs via cable.
Tightening regulations on advertising
Due to the tightening of stealth marketing regulations that
started in October 2023, it is now a violation of the law to hide the fact that
it is an advertisement. Companies that use social networking sites (SNS) to
advertise are being forced to take countermeasures.
Additionally, due to the prevalence of fraudulent
advertisements, the need for ad verification (a mechanism for verifying
advertisements) is increasing, and rules and laws have begun to be put in place
in the diversifying web advertising industry.
Check out the trends and trends in the digital marketing
market in 2024!
So far, we have introduced the digital marketing trends that
will occur in 2023. Based on this, we will explain trends and predictions for
2024.
Expanding opportunities for the use of AI
It is expected that the spread of AI will continue to
increase in 2024, and that AI will be used in more and more areas of marketing
business. It will become possible to communicate with consumers in real time
using AI and to deliver content and advertisements tailored to each consumer.
This allows us to provide information and advertisements
that are more tailored to consumers, which also leads to building relationships
of trust with consumers. The proliferation of information presented by AI and
growing trust in artificial intelligence such as ChatGPT will also impact
marketing. There is also the possibility of hyper-personalization, where AI
generates information tailored to each individual.
Re-recognizing the importance of privacy issues
With digitalization, the importance of consumer privacy
protection increases. Since we handle a huge amount of digital information,
including personal information, we will need to further strengthen our measures
against information leaks and cyber-attacks.
As AI rises, so too will the need to obtain consumer consent
to utilize their data. As a result, new privacy regulations and a trend that
prioritizes the protection of consumer data and personal information are likely
to become widespread.
Expansion of retail media
It is said that retail media will expand in 2024. Retail
media is a method of marketing through advertising through apps and signage.
Some of you may have seen advertising videos playing on the
signage attached to the cash register at convenience stores. This signage uses
consumption data such as the number of customers visiting the convenience store
and customer demographics to deliver content that is appropriate for consumers
visiting the store at that time. Many companies use convenience stores
themselves as advertising media.
It is said that retail media will start to attract attention
from around 2023, and will become serious in 2024. In light of social
conditions such as soaring prices and declining population, an increasing
number of companies are reconsidering their advertising expenses. In order to
increase the cost-effectiveness of advertising, several major companies are
planning to embark on retail media in earnest.
AR and VR integration
Incorporating augmented reality (AR) and virtual reality
(VR) into marketing strategies is becoming a trend. Companies can create
experiences that allow consumers to immerse themselves in their company's
worldview, and through these experiences they can gain fans.
For example, you can try out a product or service before
buying it, or try on clothes in a virtual shop. It is predicted that the way we
shop will change significantly with the spread of AR and VR.
Expansion of closed-loop social shopping
In traditional SNS advertising, the process was to go from
product information to the original e-commerce site and purchase the product
there.
However, in recent years, ``closed-loop social shopping,''
in which users click on product information and complete the purchase within
that platform, has been attracting attention. TikTok is a representative
service and has been a huge success in China. We are currently in the process
of launching in the United States. It is expected to expand in Japan in the
future as well.
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