More than 20,000 companies based in the United States have operations in more than one foreign country, and the growth they experience in these markets is generating a larger portion of their overall profits than in the past. According to consulting firm Globex International, foreign revenue for US-based companies has risen from 15% in the 1980s to 45% today. It certainly pays to think outside the borders, and doing so takes more than translating press materials and corporate communications.
To provide insight on this change, Social Media Week Chicago organized “From Shanghai to Chicago: Connecting Global Media,”an open discussion on working with international business, clients and agencies. Marina Christos, owner and founder of social media agency Socialty, teamed up with Nicole Yeary, founder of the women’s business and learning community Ms. Tech, and Riana Lynn, founder of the food system tracking software company Food Trace, to talk about working virtually with international clients and technology tools that make collaborating and execution more efficient.
Lynn, whose work in food entrepreneurship has led to partnerships in Mexico, Brazil and West Africa, stressed the importance of building relationships when dipping a toe in international business waters. “First, set up meetings with key members of your target community before stepping into the market,” she said. “Invest in native speakers who know what tone to use to convey your messages, while working to understand the culture.”
Christos deemed that approach part of the “global local” perspective that’s been a best practice for so many successful international endeavors. Rather than looking at the world as a global market, entrepreneurs and company executives should look through the magnifying glass to see a global network of local businesses, focusing on the parts that equal the whole.
“Also be mindful of national holidays and events,” added Christos and Yeary. Keeping a calendar of special days or weeks in a target market reinforces a localized image of a company.
This advice is just a corner of the research needed to establish an international connection. Once the groundwork is laid for a multinational collaboration, how can business executives make the most of it? Through the ever-expanding smorgasbord of social media platforms and its corresponding apps available on mobile devices.
New social media sites and apps are developed every day, reflecting the various needs of any distinct community and demographic. The following are speakers’ top picks and notable mentions for connecting most efficiently with international colleagues and clients.
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Sprout Social – Yeary and Lynn touted this social media management software to help dissect analytics, with one feature providing the origin location of clicks.
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HootSuite – this dashboard sends out scheduled messages to ensure timely news reaches audiences whose time zones are a day ahead.
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WeChat – the hugely successful messaging platform that originated in China is quickly gaining popularity outside the country.
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WhatsApp – Lynn observed the cross-platform messaging app to be the most popular form of communication in West Africa. Christos, whose family is from Greece, noted the apps popularity in that country as well.
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Google Hangout – Google’s messaging platform and communications app is ideal for conducting meetings between international offices.
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Perch & Moz – these apps help monitor a business’s competition with a snapshot of their activity on different social media platforms. Perch has also been used to learn best practices from surrounding businesses in specific locales.
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Teamstory – this community for entrepreneurs and startups encourages users to share what are called “moments,” namely questions, concerns and successes on their experiences within certain markets.
With the bevy of apps at one’s fingertips these days, Facebook and Twitter still maintain strongholds in the social media realm. While Facebook is known for its heavy and sometimes overtly personal tone, Christos noted, “I have to give props to Facebook groups. They’re good for biz conversations that deserve more personal attention.”
Yeary chimed in, “All of my clients came through Facebook referrals. The power of Facebook users is insane.”
Christos also recommended taking advantage of the international features on Facebook. “With their new algorithms, you can target posts with filters that limit who can view them based on peoples’ language preferences.”
Wrapping up, all three speakers emphasized that once a company’s foot is planted in international terrain, capitalizing on social media is one of the best means of maintaining and growing that presence. “All social media should be an attempt to build relationships,” Yeary said. “People just want to connect with each other.
