International Research is a proven way to quantify the potential within international markets and illuminate the mindset of international consumers, to remove the risk from your expansion plans.
Good International Research should:
Whether you’re already trading in another country, or are looking to expand into a new market, it’s important to realise that the preferences and priorities of foreign consumers can vary significantly from the market you already know.
International Research can reveal unexpected nuances in foreign markets that you’d otherwise be unable to spot from your position, (despite how well you think you know the country!). This means you can personalise your messaging and strategy in advance of launching, to remove some of the risk from your international plans.
Aside from the obvious use case when you’ve identified a new market you’d like to test prior to launching in, International Research should also be run semi-regularly to understand changing consumer needs globally. This may just reveal a sizeable new opportunity you weren’t expecting!
International Research is usually run by the growth or insights teams. However, company directors should pay attention to emerging international markets, and the branding and marketing teams should base their international strategy on real consumer insight.