The digital transformation combined with globalisation enables international business growth and opportunities for companies to scale on a global level.
Digitalisation deliver opportunities for companies to grow internationally and to establish a presence on foreign markets with a lower investment in market research, distribution channel network and business development resources compared to pre-digital eras.
Companies that realise this trend and seize these opportunity by applying new, digital business models allowing for scalability across multiple markets will thrive and will enjoy benefits such as faster time to market and lower transaction cost. Factors that allow for competition with established market players and larger brands.
Simultaneously, digitilization allows for initiatives that improves customer loyalty, satisfaction and ability to interact with clients ahead, during and following the purchase.
Digital marketing and sales activities are key components of an internationalization strategy. Digital channels and tools enable companies to reach prospective customers in new markets quicker, at the right time of potential purchase and typically at lower costs compared to traditional initiatives.
At the same time, digital marketing channels enable companies to communicate with prospective clients and customers across the entire consumer journey via digital communication platforms thus achieving improved insights into customer behaviour and demand.
Benefits of digitalisation include:
– wider reach
– sales at higher speed
– increased customer insights
– higher precision in selling/marketing at lower costs