World markets

The globalization of industry has been both a blessing and a curse. While “Buy Local” campaigns have popped up all over the world, we cannot put the global marketplace genie back in the bottle.

Market expansion
Billions of people live in Asia and elsewhere, where so much is now made as a result of American manufacturer relocation. Instead of looking at citizens of other countries as our competitors, we can look at them as our clients.

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As they move closer to capitalism in their business practices, the citizens of other countries also become consumers – of American-made goods. Cottage industries in search of markets can take advantage of social media channels to reach those consumers. This kind of global outreach for small businesses would be nearly impossible before social media as we know it today.

Blogger Josian Phillips writes, “As of May 2014, Statista revealed there were a whopping 70.5 million Brazilian users registered on Facebook, 60.3 million in Indonesia, 26.5 million in Japan, and 22 million in both France and Germany. In the same month, Forbes reported that the top 10 Twitter countries, per capita use, included Kuwait, the Netherlands, Chile and Sweden. That’s a whole lot of prospective customers around the world that could be targeted through international social media marketing.”

(Phillips, Josian. “The rising trend of social media for international marketing.” 13 March 2015. www.linkedin.com/pulse/rising-trend-social-media-international-marketing-josian-phillips. Accessed 26 December 2016)

Create partnerships
According to Chad Brooks, Business News Daily Senior Writer, “Research from software provider SAP AG and Oxford University's Oxford Economics shows that nearly 60 percent of small and medium-size businesses in North America are focused on penetrating new geographic markets.”

Brooks goes on to say that small businesses can use technology to form partnerships in other countries. “To smooth the transition overseas, most of the businesses surveyed are forming partnerships with suppliers and other vendors located in countries outside their home markets. Additionally, some companies are collaborating with other firms via online business networks and platforms in order to help drive innovation and growth.”

(Brooks, Chad. “Technology Key to Small Businesses' Global Expansion.” 4 July 2013. www.businessnewsdaily.com/4726-technology-key-to-small-businesses-global-expansion.html. Accessed 26 December 2016.)

While buying local is great for our economy, so is selling globally -- thanks to social media technology.

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