Today, businesses are aspiring to go global and mark their footprints in different countries. This is, indeed, a time-consuming development and is only possible through international marketing.
As technology has enhanced communication, transportation and financial flows, international trade has also travelled uphill. According to the World Trade Organisation, international merchandise trade went up by 33 times between 1951 and 2010. Read on to find out what international marketing is and what it entails!
What is international marketing?
When you expand your scope of business within the boundaries of your country, domestic marketing is used. On the other hand, if you want your business to go international, you will have to employ international marketing strategies.
International marketing, in simple terms, means marketing products or services in different countries. However, if you go into the details you will realise that international marketing is, in fact, a little complex. Just like international markets are different from domestic markets, strategies involved in the two marketing techniques are also different.
The aim of employing marketing strategies at the international level is to lead global branding efforts to ensure higher sales, serve a diverse consumer audience, and generate high revenues.
What are the components of an effective international marketing plan?
A marketing plan is successful only if effective strategies are in place to support it. Following are the components of an effective global marketing plan:
Research is a critical component of marketing, irrespective of whether it is for the global or domestic market. However, it becomes more essential in an international setting, as your business is new to the environment. It is important that you know who your target audience is and what their needs are.
- Infrastructure building
Sturdy infrastructure is vital in order to streamline the process of international marketing. This includes activities such as reserving international domains for local language sites, registering trademarks, etc.
- Transition from domestic to international
A lot of strategies are already in play in the domestic scenario and some of them apply to the international market too. So, you can transition these strategic approaches to an international setting. This can help you get a head start in terms of achieving global marketing goals.
- Localising the products and services
The products that are popular in the domestic market might not do as well in the global In this scenario, messages are tailored to suit the new demographics and consumer group.
- Perpetual strategising
All kinds of markets, domestic as well as international, are constantly changing. Hence, it is essential to conduct continuous market research so that you are up-to-date with the latest trends.
What are an international marketing manager’s skills?
Skills are the essence of any profession, irrespective of whether it is in the global domain or domestic domain. There are some skills that all international marketing managers must have under their belt, in order to be successful. Take a look:
- Sales: Global marketing demands managers to have an appreciation of the sales strategy, understanding purchaser and customer behaviours, whilst also being able to confidently work within a sales environment to produce better results on the marketing front.
- Social media: as the world is becoming more digitally influenced each day, social media skills have become imperative in the marketing dynamics. An international marketing manager must have impeccable social media skills in order to use the platform for promotional and marketing activities.
- Process design skills: marketing automation has taken the world by storm. However, it is important to understand that automation alone cannot increase productivity. The process changes that automation enforces lead to enhanced productivity. In order to bring about effective process changes, managers need to have skills such as – process modelling, product management, transition management and being well-versed in technology.
- Analytical skills: In today’s world, the amount of data available is constantly on the rise. Hence, it is essential for a marketing manager to have the skills to analyse large volumes of data and derive useful information from it. Time differences, cultural nuances and diverse audiences need research on a granular level.
- Innovation: great ideas are born out of creativity spells. Marketing managers must employ creative skills to come up with effective marketing strategies and consequently gain marketing share and maximise brand awareness to carve out a share in the market by being recognised.
- Leadership: leadership skills are vital in any profession or industry. It is all the more important if you are required to drive employees to achieve marketing goals especially when leading diverse teams in different locations. Marketing managers must possess leadership skills so they can achieve marketing success with the help of a team of professionals.
What are the responsibilities of an international marketing manager?
The responsibilities of professionals with international marketing jobs are drawn out carefully in order to cater to the goal of becoming a global success. The responsibilities of an international marketing manager include:
- Developing and employing strategies for international marketing plans for an organisation;
- Entering new markets and growing brand awareness in global destinations;
- Adapting to changes in the market in order to best serve the marketing objectives of an organisation and consumer needs;
- Researching about and developing pricing policies;
- Recommending appropriate sales channels to make the marketing strategies a hit;
- Managing subordinates and leading them to achieve the ultimate marketing goals for the organisation ;
- Ensuring that project milestones are met;
- Ensuring that the project is adhering to marketing budgets;
- Collaborating with international and national training departments to identify and implement marketing strategies that are in alignment with the local laws of a country;
- Managing communication with internal teams as well as international counterparts;
- Managing the legal approval process and proposed efficient activities for a particular region or area.
Advantages of becoming an international marketing manager
If an international business has attracted your attention and you are planning to take up a course in this field, let us help you seal the deal.
- As a global marketing manager, you have the option of working in varied industries. This will help you learn about different trades and carry forward that experience wherever you go. Even in a particular organisation, you will dip your toe in various activities like pricing, distribution, advertising and product development.
- Marketing managers are known to be well-paid, even in the domestic scenario. Add the international element to it, and they will go way ahead than their contemporaries.
- As international marketing is picking up pace, the number of jobs in the market are also expected to witness a rise. According to the Bureau of Labour Statistics, job growth in this field has grown by 12 per cent in the last decade.
- Since marketing managers can work in any industry, their job skills are transferable. They can use their skills to grow in the present company or pursue a marketing job in another company or industry.
- Marketing managers are the point of contact for internal as well as external communication. Hence, you will develop strong networking and communication skills which will boost your professional as well as personal growth.
What is the salary range of an international marketing manager?
According to payscale.com, the average salary of a global marketing manager is about €39,302 per year. However, factors such as experience and skill set influence this.
Owing to factors such as high remuneration, international exposure and fast-paced growth, this job role is becoming increasingly very popular. For fulfilling students’ dream of going international with their marketing skills, premium institutes have tapped into the industry’s potential.
If you too want to be become an international marketing manager, GISMA offers a post-graduate degree in MSc International Marketing to cater for your passion in marketing.