2020 is rapidly becoming one of the most disruptive years of the century. Both COVID-19 and Brexit are transforming who and how we do business. The UK’s allegiances to Europe are rapidly disintegrating, while a whole new world of business is developing. We are no longer constrained by the costs and logistics involved with running an office and meeting our customers and suppliers. Video conferencing has become the norm. So, why not explore a little further East and become a player in the Far-East market? Opportunities are almost unlimited in the Asian superpowers.
New ways of working
As well as the rapid disintegration of links with Europe, the products and services the UK offers are set to change. Many businesses found their staff were perfectly capable of working at home for several months during the lockdown. In fact, many staff became more productive due to performance being measured by productivity rather than presence.
Progressive businesses have recognised that remote working can improve productivity, reduce costs, and improve staff morale. Many workers are also starting to realise that they have the potential to diversify income streams and work for more than one employer. Many start-ups are kicking off, and workers are opening themselves up to freelance work.
Remote working also opens another interesting opportunity. It now means we can work much closer with partners across the globe. If resources are spread from the Far East, across Europe and on to North America, your business can provide a 24/7 operation. Unlimited Zoom calls to the Far-East now cost a fraction of what you would have paid for national rate phone calls a few years back.
Finding customers
The way we find new customers is also changing. Although the world is getting larger, the relationship between businesses and their clients is arguably getting closer. Social media has set the expectation that buying a product or service is an experience that you need to talk about. Businesses and their owners are much more accessible through social media channels, so the products and services on offer are refined quicker and adjusted to the client’s requirements quickly. Quality is also improving as the consumer has the ability to inflict brand damage in the event of problems.
Building a following on social media is now just as important as SEO for your website was only a couple of years ago. Some good linkups with well-respected influencers can prove a lot more valuable than even paid marketing produces.
Many small businesses have also been forced to move online due to lockdowns. With the high street closed, if you did not make yourself available online, you were destined for failure. With this move to online presence, the potential market for your products and services has shot through the roof. You are no longer limited to the few tens of thousands or hundreds of thousands of people in your local town. The world is now literally your oyster. It is just as easy to sell a few hours of your time or your hand-crafted fashion accessory to someone in Tokyo or Beijing as it is to someone in London. Online payment systems and fintech providers are also making it easier to spend money every day.
Exploring new markets
There is no doubt, business opportunities exist across the world. Where there is money, people are wanting to spend it. There is, however, one slight problem – Language. Three of the most significant modern economies, in particular, struggle with this problem – China, Japan, and South Korea. All three countries are at the forefront of technology development, and all have significant spending power. Language, however, is a barrier. To build trust and a lasting relationship, communication channels need to be opened.
Luckily, there are specialised multi-lingual marketing agencies that can solve these problems, staff who can speak the language and break down barriers. Not only will they connect from a human and language perspective, but they also understand the marketing culture in these countries. For example, in China, Weibo, Baidu, and WeChat are all the rage. Focussing your efforts on Google SEO in China is unlikely to yield significant returns.
Be careful in the pursuit of reliable people to represent you. Reputable agencies will be open, honest, and true networkers. Less respectable organisations will, however, keep you in the dark and be reluctant to share information. Before engaging a team, have a good video call with them and make sure you are comfortable. Make sure you talk with the individual who will be representing you. A good trusting relationship with this key person is essential for success.
The value of language
One of the most critical aspects of doing business in the Far-East is trust. Whether you are buying or selling, your counterpart will want to be dealing with a friend. Business is seen as a partnership where you work together. If you rock up to a meeting and start shouting loudly in English and cause people to lose face, you will not last long. It is much better to allow someone who is au-fait with the business etiquette, and language to lead the way. You will be respected for making an effort to assemble such a professional and competent team.
While travel is a little restricted this year due to COVID-19, once lockdowns are lifted, you should make every effort to visit your team (and potential clients) face to face. It is only through shared experiences and spending time together, trying the local cuisine that you will really become friends and learn to trust each other.
Applying old techniques in new ways
On the technical front, adaptions must be made to fit in with the ways of working in other cultures. The internet in China, for example, looks quite different from what we are used to in the West. For example, Google, YouTube, and Facebook are all banned in mainland China. Your marketing efforts almost need to begin from scratch focussing on sites such as Tmall (Online Shopping), Baidu (Search), and QQ (Communication). Of course, the content must also be written in the local language (no, Google translate will not do!).
SEO is still an important technique, particularly for sites such as Baidu. However, the algorithms are quite different from Google’s. The volume of content has been known to be considered more valuable than quality. Backlinks from other sites are also considered particularly important in Chinese SEO. The location the server is hosted is also essential. A server located in China will be ranked much higher than an overseas server.
Realistically, it is almost impossible for a Westerner to handle their own break into Asian markets. So, make sure to budget for the costs of local representation and expertise. The returns will be worth it.
Putting politics aside
Some people may be concerned about the political situation in China and Hong Kong. While it is true there has been some short-term impact on business; China is not going away. If you can find your way into the China market in these troubled times, you are sure to succeed in the coming years as international relations improve and economies recover. Get ahead of the game now by starting to build your relationships and network of business contacts.
Japan and Korea both have good relations with the UK. If you are choosing these markets, make sure your product or service is of high quality. Both countries are at the forefront of high-tech industries. You may find you actually have more success selling them a high-quality handmade product than with a cutting-edge gadget that they probably had five years ago! This is where a local marketing team is critical in helping you localise your product or service for the market you are targeting. Diverse cultures and trends need careful monitoring to fit into your marketing plan.
Final thoughts
Whether you want to enter China, Japan, or Korea, an investment in digital marketing is essential. Building a close relationship with your local marketing team is the only way to succeed. If you really want to become successful in this part of the world, make an effort to learn the local language, and visit the team face to face. Even if you only learn the basics, your ability to build genuine friendships that last forever will be cemented.
Your local marketing team will keep their fingers on the pulse concerning the latest digital marketing techniques. While Google, Facebook, and Instagram rule the Western world, Asian countries generally use their own sites that have developed separately. The biggest hurdle is usually language – there is often no English mode, so you really need someone who speaks the language and excels at digital marketing.
Massive change is coming in the world of e-commerce. Now is the time to decide whether to ride the wave and chase global success. If you do not do it now, someone else will only do it later! So, give it a go, what do you have to lose?
