For UK businesses with strong brands and high export potential, expanding into new territories offers great opportunity for growth.
As a result more and more UK advertisers are scoping out the real potential of international expansion.
In this article we share some of our best tried and tested tips for helping brands seek new revenue opportunities from international markets:
1. Define your goals
It may seem obvious but the first place to start is to clearly define the outcomes that you want to achieve. As this will provide clarity and you will be able to relate every future action taken to a particular outcome.
When introducing an unknown brand into a new territory you will need to take into consideration the level of consumer trust. A brand that no one has heard of may not inspire the level of confidence needed for a consumer to make a purchase. For this reason, we recommend that you set early goals which revolve more around creating positive brand awareness and engaging with your target audience rather than focusing on direct profit.
2. Understand what you are measuring
Not all campaign goals will revolve around profit; for those that don’t, there are other metrics that can be monitored to measure success. The first place to start is search volume through Search advert impressions. Use this metric to show you how many people have been exposed to your advert. Although they may not have proceeded to purchase anything from your website, every time a consumer sees your Search advert they will start to build more trust in your website, which will increase the likelihood of them making a purchase.
Another key metric is Click Through Rate (CTR). A higher CTR will mean that a greater proportion of people are reacting to your advert. Use this measure to understand how consumers are engaging with your brand.
3. Do not overlook the Google Display Network (GDN)
When trying to raise awareness of your brand, the GDN can be a very powerful tool. Through the GDN you are able to show Display adverts directly to your target audience. By using the placement targeting capabilities available on the GDN you can show your adverts, on particular websites that your target consumer is likely to be browsing. You can also use the GDN to extend your reach further online. Using GDN, you can define a list of interests that you expect your target consumer to have and target that subsection of Internet users with your advert.
4. Think past the last click
When introducing an unknown brand into a new territory, generic keywords can prove very valuable on a first click/weighted basis. For example, if a consumer is searching for “wetsuits” and they click an advert from a brand that they do not recognise, the likelihood is that if they find a wetsuit they like on the landing page they are unlikely to trust the site enough yet to make a purchase. However, after the brand has made the initial connection, it is likely that the consumer will at some point search for “<brand> wetsuits” to have another look at the wetsuit they were initially attracted to. The third time the consumer searches, they will most likely search for the pure brand term and in this case they will make a purchase.
Now when looking at this information on a last click basis, the entire value of the sale will be attributed to the pure brand term, however without the initial interaction with the generic term none of the subsequent searches or the final sale would have happened. This is a pattern that we see frequently across our campaigns and is more apparent as the value of the item increases.
In order to better attribute the full value of the sale we would suggest using an attribution model that reflects the contribution of keywords throughout the conversion path, specifically initiating keywords. How you do this will depend on the tracking and attribution technology that you use.
5. Remarketing Lists for Search Ads (RLSA)
When introducing a brand to a new territory, it is not only acquiring the customer that is necessary – we also need to keep that customer. The aim is to create a relationship so that they return. RLSAs are a very useful targeting method within Google Adwords as they allow you to set rules based on consumer browsing history.
When someone has made a purchase from a brand they will be more likely to buy again. You can use RLSAs to create a list of consumers that have bought from your site previously and set a bid multiplier so that your ads appear higher in the search results page when they make relevant searches. For example, if the consumer who bought a wetsuit is now browsing online for a surfboard, you can ensure that you appear high on the search results page for the term ‘surfboard’ and likely achieve another purchase.
We hope you find these five tips useful. When entering any new market, it’s important to take the time to do the research and prepare your campaigns accordingly to ensure that you have the highest chance of success. Good luck!