Get Tips to Expand Your Business Globally

Facebook Business

June 07, 2019

With over two billion people on our platforms around the world, Facebook internal data, January 2019 chances are, you have a potential new customer base in a market you have yet to consider. And as cross-border ecommerce becomes mainstream, businesses have an opportunity to connect with new customers from around the world on Facebook, Instagram, Messenger and WhatsApp.

We sat down with Hans Tung, managing director at GGV Capital who has invested in companies such as Airbnb, Peloton, Slack and more, to discuss how businesses can accelerate growth by expanding internationally. Check out Tung's advice to break into new markets and drive business growth.

Target a wider audience

When considering where to bring your business next, it's important not to limit your focus to only top tier cities such as New York or London. Instead, look for places that might have a larger, underserved market where your business can be the first of its kind and introduce people to your offerings, or help round out the market.

Adapt to different consumer needs

When serving customers in new places, it's important to listen to local consumers and adapt quickly to their needs in order to make your business fit seamlessly into new markets. There may be certain features or services that are critical in some cultural or geographic settings that differ from where your business originated. For example, if your business is an ecommerce company based in the US and you typically take payment by credit card, when entering emerging markets, you may want to consider other payment forms such as cash on delivery (COD).

Present a stronger value proposition in new markets

Before entering a new market, businesses should develop a stronger value proposition. For example, if local competitors in a given market offer more than just a single service, you'll need to offer something else in order to capture market share. For instance, if the local food delivery app also has a built in mobile payment feature, you should consider what other unique value your business can offer such as increased personalization and recommendations or faster delivery times.

Check out our interview with Tung for more insights on growing your business internationally.

Han Tung Interview

Watch the full interview with Tung.

We offer several cross-border solutions that make it easier for you to connect with customers around the world.

• International lookalike audiences help you find your best potential customers in a new country based on insights about your existing customers.
• Worldwide and regional targeting make it easy to show your ads globally or to specific regions in order to find new markets for your business. With worldwide targeting, your ad will be delivered and optimized globally to help you find conversions and customers at the best value. And with regional targeting, we'll show your ads to people in the locations you choose such as Europe, or a group of countries such as France, Germany and Spain, and monitor their performance to then optimize your ad spend to the locations with with best conversion rates.
• Dynamic language optimization helps you reach people in their preferred language by enabling you to include multiple languages in one ad campaign, and then Facebook will match the right language to the right person
• Multi-language and country dynamic ads let you run global, regional or domestic dynamic ad campaigns and show localized content to people based on their preferences, using a single catalog.

Get started with cross-border solutions today.

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