Global Marketing: up to the challenge?
We’ve written blogs before about marketing your business when it is smaller, but what about marketing a global corporation? It’s a huge task and the way in which global strategies need to be executed couldn’t differ more to managing those of an SME or large national company.
What does it take to super-size your campaigns?
Despite having exponentially bigger budgets and larger teams, it isn’t a challenge-free feat. Research conducted by Forbes in 2009 with more than 20,000 marketers supporting over 200 top brands found that the biggest challenge is being able to find the right balance between local vs. global. Not many global brands leverage their scale effectively, despite them gaining importance. Many are also slow to roll out successful marketing initiatives across the whole company.
The question may come down to how do you use the budget you have? if you’re a conglomerate, how do you ensure that you don’t overreach and burn through the finances you have without making any kind of impact on your target market? Big data, monitoring of ROI and analytical reviews play an important role in keeping this in check.
But data and monitoring arn’t the only considerations that need to be made when operating on a global scale…
So what needs to be done in order for global marketing to be a success? Ultimately, it’s all about mindset. In order for one to achieve big, one must think big. The teams charged with conducting the marketing at both local and global levels need to think with a global mindset, regardless of the scale of the operations. This includes thinking about what competitors are doing across other continents, how communications will be understood by different competitors, and what structure will transcend global boundaries.
It is all about creating a connection with the various aspects of any campaign, ensuring there is a common understanding of the different market realities and destinations. There must be a sense of interdependency, in which the local teams all have the belief and understanding that what they are doing will have an impact on a global scale. It is the small pieces of every puzzle that work together to make the bigger successes. They should be looking for similarities between the work they’re doing and local marketers, rather than differences, ensuring they are always driving the global goal.
Whether the teams are made up of 10, 50 or 100 employees, global corporations succeed when they inspire all of those working within it. This inspiration will transcend into motivation, which will help in attracting customers. All staff need to understand the core message that the company wants to convey, and how they hope to be understood. Before opening new rides, Disney always gets their employees to have the first go. This is a great way of getting them involved and inspiring them to share the fun of their experience with the people they meet. Global brands ignite passion internally and nurture this.
In global corporations, there is also a vigilant focus on what is being done with pre-agreed goals and priorities. This is then coordinated across the whole company through a series of initiatives, in which everyone is working towards a common vision, mission and strategy. This avoids time being wasted on less essential work. They are also organised in outlining what everyone’s roles and responsibilities are, so everyone is focussed on the task in hand. When all of this comes together, global marketing becomes a success.