Global Branding: What Marketers Need To Know
Global marketing strategies that successful brands follow
Introduction
A global brand is a product or service that is known and sold around the world by a particular company or organization. A global brand typically has a strong presence in the domestic market, as well as market share internationally.
Global brands are consistent in their products and core messages to consumers, with slight variations depending on the local market. Global branding allows consumers to understand the brand wherever they are, creating global brand loyalty.
Successful global brands present a unique and meaningful image to their target market, as well as creates value for the consumer.
Advantages of Global Branding
There are numerous advantages for a company or organization to participate in the global space. Global branding allows for economies of scale for both marketing and the business as a whole (Teeboom). This means that the company or organization can use similar images, celebrities, and messages across the globe.
However, it will be imperative for companies to understand the local consumer culture to see if marketing and advertising campaigns need to be localized. Global branding and marketing allows a company or organization to increase customer awareness. This can lead to growth in the customer base and overall profits.
In addition, global branding allows for a company or organization to grow outside of its home country. This can create a stronger competitive advantage for a brand. If done correctly, customers worldwide will be better informed about the products and services a company offers. This can help a company generate additional revenue and fuel business growth.
Marketing globally can improve the effectiveness of a company’s product or service. Companies that adapt their products and services to market demand in a foreign country can generate revenue outside of the home country. Global brands can potentially add value for customers, reduce costs for the company or organization, increase cross-border discovery, and increase quality and prestige.
A High Degree of Flexibility, While Remaining Consistent
Global branding strategies must have a high degree of flexibility while remaining consistent. This is because there is never a “one-size-fits-all” approach to marketing. When marketing globally, each region has its own cultures and practices. Even in the domestic market, people can have varying cultures and practices. Ensuring that the brand’s message is consistent, but also reflects the culture of the local people will be imperative for success.
When marketing globally, one must understand the political forces, legal forces, economic forces, competitive forces, cultural forces, geography and infrastructure, the structure of distribution, and level of technology in a foreign country. Marketers must address differences and deliver campaigns that reflect how local consumers interact with their brands.
Chief Marketing Offers (CMOs) must make clear and informed decisions about how the brand should be perceived by the foreign market that aligns with the brand’s values. CMOs must ensure that everyone shares a common understanding and respect for the brand’s core value. Global branding requires thoughtful research and understanding of a brand’s purpose and how it “will work for” people in the market.
A Successful Global Brand
Disney is an excellent example of a successful global brand. Disney products are recognized worldwide, regardless of the country, continent, or region. The company takes a standardized global marketing and advertising approach to reach consumers with its products and personalities while creating small nuances that relate to different cultures.
To stay relevant to global consumers; characters and movies are adapted to match the local culture and tastes. Disney also offers its products in multiple languages. For example, Mulan was created to relate to the Asian population. Disney is able to monetize on the growing global consumer base by developing franchisees that align with local consumer interests.
Digital Marketing
To successfully launch a digital marketing campaign in a foreign market, each brand should understand where their target audience spends most of their time online. This includes various online channels, platforms, or apps.
Then the marketer should devise a strategy to reach the potential customer with various pieces of content. Some examples include search engine marketing, social media marketing, email drip campaigns, or display marketing.
Ensure that your messaging fits the platform and creates value for your ideal consumer. It is recommended to partner with members from the foreign country to review your marketing strategy to ensure it aligns with the culture.
Takeaways
A global brand creates a strong presence across the world, at the same time, localizing its message to geographic markets. Uniform quality of product or service, similar brand identity and values, similar strategic principles and position, and a similar marketing mix are a few characteristics of global brands.
As a marketer, it is imperative to study and understand local consumer preference as it differs per region. Successful marketers find ways to relate to consumers no matter their cultural background or geography.
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Resources:
GLOBAL BRAND | definition in the Cambridge English Dictionary. Cambridge English Dictionary. Retrieved from https://dictionary.cambridge.org/us/dictionary/english/global-brand
Castrillon, C. (2019, February). Why Personal Branding Is More Important Than Ever. Forbes. Retrieved from https://www.forbes.com/sites/carolinecastrillon/2019/02/12/why-personal-branding-is-more-important-than-ever/
Teeboom, L. (2019, February). The Advantages of Global Branding and Advertising. Chron. Retrieved from https://smallbusiness.chron.com/advantages-global-branding-advertising-18190.html
