- 21 June 2016, 08:30 in Digital Marketing
Success in Diverse Markets Requires Local Knowledge and Global Expertise
What sort of impact does Diwali have on consumer electronics sales? How long do the Lunar New Year festivities last? How does the Malaysian market view cash-back offers? Who are the most dominant PC retailers in Hong Kong? How likely are Russian consumers to hand over their banking details as part of a rebate offer?
These are all questions that any global retail sales strategy must address if it is to carry over any domestic success into foreign markets.
Though essential, offering good value is only one part of the equation. How well a company adapts to the unique needs of each individual market can make or break any sales promotion, regardless of how substantial the savings are. Disappointing and inconsistent results have led companies around the world to abandon the assumption that there can be a “one size fits all” solution.
For retailers and brands hoping to make an impact on foreign markets with attractive headline offers, risk-managed sales promotions – enforced with solid data – offer compelling results, regardless of which corner of the map is being targeted.
These promotions can come in a variety of forms, such as cashback offers, trade-ins, prize-draws, instant wins and satisfaction guarantees.
Instead of taking all the risk of an over-performing promotion, retailers can be assured that the promotion will not backfire and leave them in the red, thanks to the combination of predictive analytics and specialist underwriting guarantees.
