How to Succeed at International eCommerce

Navigating Global Growth with your Online Presence

How to Succeed at International eCommerce

1

Research Expansion to New Marketts

2

Maintain Visibility of Sales Activity & Trends

3

Localize Websites for Popular Markets

4

Accommodate Preferred Payment Options

5

Comply with Global Data Requirements

Research Expansion to New Markets

Before expanding your business to new areas, you must first conduct some research. Uncover clues in your analytics to see if global expansion is a lucrative decision for your business. Is there is a growing demand for your products or services in areas outside of the U.S.? Look at your web traffic and see if your site is attracting visitors from different areas. Are those visits converting? Can you expand those audiences? three-stages-global-expansion.jpg

Once you find out where visitors are coming from, you can conduct a gap analysis and research the local areas and products sold to determine if your products will sell. Is there a demand not currently satisfied by local competitors? Can your organization address those needs?

Develop a plan to address the needs of new markets and how your new global strategy will integrate with your current organizational objectives.

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Maintain Visibility of Sales Trends

To stay on top of sales activity, fluctuations and trends, your eCommerce platform should provide you with a transparent and easy-to-understand performance snapshot dashboard. Aggregating the most important types of eCommerce data will keep you prepared, proactive and able to quickly respond to any changes in activity.

Is inventory running low on some of your top products? Is a particular campaign bringing in more sales than usual? Having eCommerce information in front of you in real time will ensure that your team can maintain optimal efficiency – no matter where your business is experiencing success. To maintain a successful eCommerce business you must be sure to track orders, returns, products and customers at all times.

With the increased ability to efficiently sell goods online and other countries adopting an international eCommerce approach, more organizations are considering global expansion to stay ahead of their competition.
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Localize Websites for Popular Markets

Expanding to new international markets? Spin up translated versions of your site for each new international market to communicate effectively with your visitors. Customer-centric companies that make the effort to customize their eCommerce instances to the location and cultural norms of their new markets reap ROI benefits that are evident in their bottom line. To maximize your velocity to market and simplify the process of providing important content written in the right dialect, seek native support for translation services and automated content workflows managed from a central console. .

Delivering timely and relevant content in multiple languages and accommodating customers in different regions will help your business gain a competitive advantage from wherever your headquarters are located, as well as:

  • gain new customers and leads
  • increase brand awareness
  • overcome cultural barriers

The Case for Localization

  • 94% of multinational companies plan to increase their localization expenditures in 2018 and plan to expand to 7 new markets on average. American Marketing Associationcmun-icon.png
  • Global GDP will expand by $22 trillion over the next five years, and over half of that will be in Asia. U.S. Chamber of Commerce
  • France, Hong Kong, Italy and Japan are seeing substantial growth in internet usage. If you have the will and foresight, foreign international markets can be seen as low-hanging fruit as there are massive revenues to be found for relatively little effort. Neilsen –Netratings
  • Non-U.S. markets represent 80% of the world’s purchasing power. Organizations are on the hunt for opportunities to attract global audiences to their online content. U.S. Chamber of Commerce
  • Expanding into multiple new markets requires smart ways to streamline the process including use of technology to automate content workflows, centralize translation projects and provide data to optimize the go to market strategy for translate content.

Accommodate Payment Options

Are you selling products internationally? It is essential to display your pricing in the currency of the local market and to offer alternate payment options to make it easier and more straightforward for your customers to complete their purchase. Did you know that most shoppers won’t purchase from a site that’s not in their language or currency?

Localization improves customer experience and increases engagement in the brand dialogue. It should be a rigorously planned and executed business strategy for any company looking to grow Internationally. Common Sense Advisory

According to a Common Sense Advisory study of 30,000 online shoppers from Canada, the UK, Australia and Germany:

  • 92% prefer to shop and make purchases on sites that price in their local currency.
  • 33% will abandon a purchase if pricing is listed in USD only.

It’s not just currency that matters when it comes to paying for a purchase. The preferred method of payment varies in international markets and can make a difference in purchase decisions.

Preferred Payment Methods by Region

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Comply with Global Data Requirements

While differences may arise in areas like language, currency and payment methods from place to place, there are universally accepted data and ethics standards that are appreciated and recognized, globally, such as protecting customer information. 

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  • SOC 2 CERTIFICATION
    SOC 2 Compliance is a component of the American Institute of CPA’s (AICPA’s) Service Organization Control reporting platform. It is a minimum requirement when looking for a SaaS platform and its goal is to ensure that systems are set up to ensure security, availability, processing integrity, confidentiality, and privacy of customer data.
  • GDPR COMPLIANCE
    General Data Protection Regulation (GDPR) provides a legal framework and enforceable measures to harmonize data privacy laws across Europe, to protect the privacy of all individuals and to reshape the way organizations manage data. Ensuring that your eCommerce platform complies with this regulation means that you are minimizing your risks for customer data breaches and are protecting your brand to safely do business with European customers.
  • PCI LEVEL 1 CERTIFICATION
    Payment Card Industry Data Security Standards (PCI DSS) include the standards and established rules put in place to protect customer card data. If your eCommerce platform is PCI Level 1 Compliant, it means they have greater than 6M Mastercard or VISA transactions annually and follow the standards governing online payments.
  • SECURE INTERNATIONAL CLOUD HOSTING SERVICES
    Secure cloud hosting services, like Amazon Web Services Availability Zones, give your organization the opportunity to create instances in various global locations through local data centers. This means that if there is a failure in one location, other locations will still be secure and operational.
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