With global retail e-commerce sales expected to see an annual compound growth rate of 9.83% through 2028, cross-border marketing has become an essential strategy for e-commerce brands eyeing growth.1
Though social media strategies can help, successful cross-border marketing remains a complex challenge for many businesses, especially as they expand to new markets.
From understanding local consumer behaviors to adapting marketing tactics for unique cultural contexts, here are some considerations when building your global marketing strategy.
In the face of economic uncertainty, many organizations have doubled down on growth and marketing investments. In fact, 36% of CMOs say their top priority is expanding into new markets, geographies, and segments.2
But when businesses explore cross-border marketing at first, they may face barriers that impact conversion rates. Here are some examples:
For example, take the portable blender business BlendJet. With the convenience and security of PayPal, BlendJet increased conversions among international shoppers. Today, transactions with PayPal represent more than 30% of BlendJet’s total sales.
Market research is vital in preempting and addressing the challenges of global expansion before they escalate into significant issues. Think of international brands that seamlessly blend into your environment — how have they adapted their strategies to accommodate local conditions?
In your global market research, focus on:
Next, use your market research to support global market segmentation efforts. By segmenting markets geographically, businesses can tailor their strategies and offerings to each region's unique characteristics, allowing for a more efficient and effective international rollout.
Before expanding into new international markets, here are some cross-border marketing strategies to consider:
Navigating the complexities of global marketing can be daunting, with factors like localization, personalization, and mobile optimization at play. But there are certain tools available that can make this undertaking achievable.
For example, PayPal offers comprehensive global enterprise solutions. With 76% of PayPal users saying they trust PayPal to make purchases from another country, it's clear that integrating a payment solution known for its security and convenience can boost consumer confidence and facilitate smoother cross-border transactions.4
Learn more about PayPal’s international payment solutions.
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