No two people are the same. It’s also important to know that no two markets are the same. If you want to take your business to that next level, one thing you can do is explore international targeting and segmentation. If you do this, you will gain a better idea of how each market works, and it will allow you to scale slowly. Instead of selling your products to the whole of the US, you may want to focus on certain states first, and then gradually expand. This allows you to control supply and demand while identifying new opportunities.
Understanding Your Target Market
One of the first things you need to do is understand your target market. A casino site using ads to target residents on the Vegas Strip might not be a worthy investment, due to the sheer amount of competition. Websites that provide online European roulette, such as https://casino.betfair.com/game/european-roulette-cptn may benefit from targeting areas with casinos that only offer American roulette, however.
With European roulette having a lower house edge, due to the single green zero on the wheel, this helps to target gamblers who have a good understanding of the game and provides an opening to a crowded market.
Another example would be https://www.wildcountry.com/en-gb/. They have a solid market for parkas and outdoor weatherproof clothing in the US. With that being said, targeting countries like Poland probably wouldn’t be the best idea, as the country isn’t known for outdoor pursuits.
Malaysia, however, experiences some of the highest rainfall in Asia, with numerous popular hiking routes that people travel across the world for. This makes it a prime country to target in terms of international expansion. Doing an analysis of the country and the trends that are happening within the marketplace allows you to work more effectively, and it also gives you the chance to find new, or seasonal opportunities.
International Targeting and Growing Trends
Although you do need to focus on your demographic, and who is going to be buying your product, you also need to focus on trends. Sainsbury’s, as found on https://www.livekindly.com/sainsburys-predicts-400-vegan-population-explosion/, predicted that there’s going to be a 400% explosion in the number of vegans in the UK. Just last year, a vegan chicken brand known as VFC launched in the country, and now has a presence in 400 pubs.
A vegan-focused brand may see the UK as being a viable market, as brands are still gaining a foothold in the sector, and there’s a lot of opportunity regarding market penetration. Although veganism is a growing trend, in Spain, only 1.4% of people are vegans.
This just goes to show that even though veganism is a growing trend across the world, that doesn’t mean that every country is going to be a good target. When working with niche markets, you need to focus on trends too. Even though Spain may have the demographic for veganism, with 7% of the population being flexitarians, there’s just not a dominating trend for veganism just yet.
Overall, brands need to take into account different factors when it comes to international targeting or face the consequences of a poor investment.
Also Read: Effective PPC Strategies for Targeting Niche Audiences
