info@ceoworld.biz
Friday, September 20, 2024
CEOWORLD magazine - Latest - CEO Spotlight - 6 Things Every Global Product’s Advertising Strategy Needs to Succeed, With Janak Bhawnani

CEO Spotlight

6 Things Every Global Product’s Advertising Strategy Needs to Succeed, With Janak Bhawnani

Modern Workplace

In the past, only big multinational corporations had the resources to tap into the global market. However, today, even small businesses can reach customers worldwide through online stores or websites. While big brands often grab the headlines, small and medium-sized enterprises make up about 90% of businesses worldwide, according to the World Economic Forum. This shift in market dynamics presents a big opportunity for businesses to expand globally — if they have the right strategy.

Whether you’re selling products, offering virtual services, or promoting an eBook or app, local businesses now have the chance to broaden their reach and increase income by thinking globally.

For business owners, this means more than just translating your website. It requires creating a thoughtful, region-specific advertising strategy that captures the attention of audiences from different cultures and markets.

Janak Bhawnani

Janak Bhawnani, director of product management at Twitch, a subsidiary of Amazon, brings his expertise in global market strategies to the forefront, offering insights into the six crucial elements every global product’s advertising strategy needs to succeed.

  1. A Focus On High-Engagement Regions
    Focusing on specific regions where your product is already gaining traction can significantly increase your chances of success. Bhawnani advises, “Start by analyzing your website traffic and social media engagement to identify which regions show the most interest in your product. This data-driven approach allows you to allocate resources efficiently and maximize impact. For instance, at TikTok and Twitch, I implemented a strategy that focused on testing product-market fit for ad experiences (e.g., premium display ads) in a single region, such as the U.S. This allowed us to validate the approach before expanding into global markets, which require significant investments in localization.”

    Honing in on key locations lets you focus your marketing efforts where they’ll have the most impact, ultimately saving time and resources while boosting your chances of success.

  2. Strong Understanding of Competition In Each Market
    Before entering a new market, it’s critical to understand who your competitors are and how they operate. “Competitive analysis is more than just knowing who you’re up against,” says Bhawnani. “You must understand their strengths, weaknesses, and any gaps they leave in the market.”

    By taking the time to study what your competitors are offering, how they operate, and how they market their products, you can gain valuable insights. This research will help you determine if the market is already saturated or if there are opportunities waiting to be seized.

    With this knowledge, you can make informed choices about which products to introduce and where to help you avoid expensive. Spotting gaps in the market also allows you to fine-tune your offerings to meet the unique needs of each area, giving you a competitive edge.

  3. Region-Specific Distribution Strategies and Partnerships
    For businesses selling physical products, region-specific distribution strategies are essential for international success. This means you’ll need to research local delivery services, estimate shipping costs, and get a handle on customs regulations and tax implications.

    “Scaling a product globally requires a deep understanding of regional regulations and consumer behavior. Our strategy at Twitch involved launching privacy-compliant solutions that respect user data while still delivering targeted, effective advertising,” says Bhawnani.

    Ensuring that your strategies comply with local laws not only fulfills legal requirements but also builds trust with customers, which is essential for long-term success in diverse markets.

    For digital products or services, like apps, it’s important to ensure that your online infrastructure can support increased traffic from different regions. Forming strong partnerships with local distributors and service providers can make your operations smoother and enhance the experience for your customers.

  4. Localized Branding and Campaigns to Match Local Audiences
    When you’re launching a product or service in a new region, getting the localization right is crucial. According to a study by Common Sense Advisory, 72.4% of global consumers prefer to buy products in their native language. This shows just how crucial it is to translate and localize everything—from ads to product descriptions—in a way that genuinely connects with local audiences.

    But localization is more than just translation. It’s about adapting your messaging and visuals to align with the cultural norms and values of each market. “I have led several localization initiatives across social media and retail media companies, including Amazon, TikTok, and Twitch,” explains Bhawnani. “The key takeaway I’ve observed is that successful localization goes beyond simply translating words—it’s about adjusting every aspect of your campaign to connect with the unique cultural nuances of each market.”

    He continues, “One example is the launch of ML-driven creative optimization at Amazon, where we noticed that viewers in the Asia region had a higher click rate (engagement) for display ads with bright colors, compared to viewers in North America, where we saw higher engagement with neutral backgrounds and visual elements that blended more seamlessly with the page.'”

    “By aligning your messaging and visuals with local values and norms, you create a more authentic connection, which significantly boosts the impact and effectiveness of your campaigns.”

  5. Awareness of Cultural and Language Differences
    Navigating cultural and language differences is one of the trickiest parts of global marketing, but when it’s done right, it pays off big time. According to a survey by Nielsen, 66% of consumers say they are willing to pay more for products from brands that understand their cultural preferences. Bhawnani draws on his own experience to echo this idea.

    “In my experience, the key to success lies in not just avoiding potential missteps but actively leveraging local cultural trends to create campaigns that resonate. It’s about being in tune with the local heartbeat — understanding what matters most to the audience and then translating that into a message that feels both familiar and compelling. When you approach marketing this way, you can turn potential challenges into great opportunities for connection and engagement.”

  6. A Continuous Audit of Your Strategy
    Continuous testing and optimization are key to refining your global advertising strategy. Research shows that companies that continuously monitor and adjust their strategies see a 25% improvement in ROI within the first year. A/B tests and pilot programs, for example, play a big role in this process by revealing which ads and messages resonate most with local audiences.

    Using real-world feedback to optimize your strategy allows you to steer clear of cultural missteps and increase your chances of success as you grow. Plus, testing not only helps you avoid mistakes but also shows you what actually drives engagement and conversions in each market.

Positioning Your Global Advertising for Long-Term Success 

By implementing these strategies, businesses can approach global markets with greater confidence and focus. With careful research, region-specific strategies, and a conscious effort to understanding and respecting cultural differences, companies can position themselves for long-term success and expand their reach across diverse markets.

These practices not only enhance the effectiveness of your marketing efforts but also pave the way for sustainable growth on a global scale.


Have you read?
Best Fashion Schools. Best Universities. Best Medical Schools. Best International High Schools. Countries: Most Female Billionaires.


Add CEOWORLD magazine to your Google News feed.
Follow CEOWORLD magazine headlines on: Google News, LinkedIn, Twitter, and Facebook.
Copyright 2024 The CEOWORLD magazine. All rights reserved. This material (and any extract from it) must not be copied, redistributed or placed on any website, without CEOWORLD magazine' prior written consent. For media queries, please contact: info@ceoworld.biz
CEOWORLD magazine - Latest - CEO Spotlight - 6 Things Every Global Product’s Advertising Strategy Needs to Succeed, With Janak Bhawnani
Despina Wilson
I am a senior editor and data journalist at CEOWORLD magazine. My job involves using infographics to report on news topics related to business and policy, with a global perspective. I hold a master's degree in journalism and have worked for newspapers and reporting projects in both the US and the UK, giving me a unique transatlantic perspective. I believe that data can enhance coverage of all news topics. As a contributor, I plan cover a wide range of issues, such as gender equality, climate change, labor, and immigration, using relevant statistics and insightful visualizations.

Email: despina@ceoworld.biz