Digitalization Opens Doors to International Markets

Thanks to the internet, many of the barriers that could complicate access to international markets have been eliminated. This is reflected in the latest study on online shopping by ONTSI, which shows that about 30 million Spaniards made online purchases in 2023. Taking these figures to a global level, we find almost 3 billion online shoppers.

For an SME, this means the possibility of accessing a global customer base, diversifying income, and gaining greater relevance. However, carrying out internationalization is not an easy process and requires a well-defined digital strategy.

If after analyzing your business situation, you identify that the next step is internationalization and you have the necessary financial resources, this is your moment! Here’s what you need to consider to get started.

Key Factors for Successful Digitalization

Globalization drives a more homogeneous consumer market, but there are still significant demographic and cultural differences between different countries. Therefore, before launching to sell abroad, it is essential to consider the following factors:

Market Research: Identifying the Countries to Target Your Efforts

The first step is to find the market you want to target; it must be one where your product meets a real need. Use tools like Google Trends, SEMrush, Statista, or specialized reports to gather information about consumer preferences and behaviors in different countries.

Also, research which online platforms your target audience uses. While social networks like Instagram or TikTok dominate in most countries, in places like China, you will need to use local platforms like WeChat or Alibaba.

Adaptation to the Target Market: It's Not Just About Translation, You Must Also Understand

The next step is to adapt your product and strategy to the customs, values, and expectations of the target market. Remember, it’s not enough to translate your content; you must deeply understand the culture of your future customers.

Platforms like Smartling or Weglot help you manage the different languages of your website to ensure a smooth user experience.

Study the Regulations in the Destination Country and Avoid Legal Surprises

Each country has its own laws, regulations, and tax rules. It is vital to research the legal aspects that will impact your business, such as international taxes, data protection, or export restrictions. The European Commission has resources to help you with these aspects: find them here.

Know the Digital Tools Necessary for Your Strategy

Choosing the right digital tools is key to efficiently managing your international expansion, and here are some options:

• E-commerce Platforms: To start selling in different countries, it is useful to have a reliable and adaptable e-commerce platform. Shopify, WooCommerce, or Etsy are options that allow you to manage sales in multiple languages and currencies, essential for reaching international customers.

• Logistics: A good shipping strategy is crucial to ensure your products arrive on time and in good condition. Among many others, platforms like DHL Express or UPS help plan international shipments, optimizing time and costs.

• Payment Gateways: Having a secure payment platform is essential to ensure customer trust. You can use platforms like Redsys or PayPal.

Find more information about payment gateways here.

• Advertising: No matter how good your product is if no one knows it exists. Invest in international advertising campaigns using tools like Meta Ads (ads for Facebook and Instagram) or Google Ads to increase your visibility anywhere in the world.

• Customer Management: To expand your customer base globally, a suitable CRM is a great ally. Among others, HubSpot or Salesforce help manage customer relationships, optimizing communication and sales.

Finally, you might wonder if there are any aids to boost the internationalization of SMEs. Indeed, there are. The ICEX Next program helps SMEs in all phases of their internationalization projects. Find all the information here.

As you have seen, by strategically using digitalization, the right tools, and the ability to adapt to the needs of new markets, you can take that first step and open up to foreign markets.

If you want to keep learning more about digitalization, you can do so from our resources. Don’t miss them!