Expanding your business to new and larger markets, such as UK, Germany, France, the US etc., offers plenty of new business opportunities and the prospect of new clients and sales. However, hand in hand, with the new opportunities typically goes increased competition.
Vital to your success abroad is a solid understanding of who your competitors are in the new markets – offline and online as well as local and international – and how they compete with you, i.e. what their offerings, their USPs, their pricing policies, their marketing approaches are. This will have a direct influence on your approach and on how you localise your website and digital marketing for the new export market.
Our experience is that competitor analysis is critical and of high value: Not only does it help you to develop a focused competitive positioning, but analysing competitors in more competitive markets often also brings additional insights and opportunities for differentiating and innovation that can be applied in your home market, e.g. Ireland.