Creating an authentic experience in a new market where a specific set of traditions and cultural norms have already been established can be a challenge. In order to be authentic, brands must be able to bridge values in business and be able to pair strategies from one market to the next.
When entering an entirely new market, it is key for brands to stay true to themselves and to the system that they have perfected. Being real and consistent through messaging establishes a strong base to build upon with new consumers. However, in order to merge a concept with a new market, businesses must be open to change and transformation to fit with new customs and expectations.
Understand the People
Moving into a new market comes with a new demographic, a set of people that are unaware of a brand’s concept. A business must recognize the differences in new consumers from others in past markets. To create an authentic experience, you should gauge which parts of the concept should be given to the new market. Understanding how much consumers are willing to pay, and what types of products or services they find necessary are important factors to analyze ahead of expansion.
An authentic experience can be brought to a market where the core values and key messaging can blend with the already standardized way of living. Concepts entering new markets have the chance to compliment the already established practices of consumers, but also challenge the norm. Pushing the boundaries in terms of the service quality or products offered are subtle ways to provoke a market’s interest and quickly build trust with new consumers.
Observe the Competition
Markets across the globe have had their fair share of new, authentic businesses come to the area with both major failure and success. Taking a look at staple businesses that have been in the market for years is a way to determine not only who the competition is, but to take note on how they have managed to achieve their staying power.
Look at which businesses have a strong local presence and work to determine what has giving these brands an edge—the product or service itself, the brand story, the pricing or value. it is important to learn what portion of the competition resonates with a new market. A strong grasp on what traits consumers are looking for in a business is your brand’s opportunity to begin to match the competition and naturally blend an authentic concept into the market seamlessly alongside already established values and expectations.
Although it is important to make your presence known, there is also a certain amount of respect that should be made when approaching a new market. Understanding that a concept is completely foreign to a market, it’s important to make proper introductions for the brand to consumers and the local business community in order to build a stable relationship.
Brands should not assume that they know the market or the people better than the locals themselves. It takes time to learn the target audience and the business environment that a new market holds. Beginning to study a new market and understand the people is a major task, and you should prioritize keeping an open mind with new approaches and techniques to connect with consumers. Forming relationships and challenging a business to imbed itself in the community is an deeply meaningful portion of staying true to authenticity of a brand, while also respectful recognizing norms.