Today we have invited Natalia to our regular column "Ask me about with an expert".
Natalia is an expert with 14 years of experience in marketing, including 10 years in digital marketing. She launched the Rocket brand in Ukraine and Nova Post in Germany.
( https://lnkd.in/dt6CTrXV )
Based on Natalia's experience in the European market, we asked her:
"What are the three most common mistakes businesses make when entering the European market?"
Natalia:
"Mistake No. 1.
Not studying the market, competitors, and target audience in depth.
At best, businesses limit themselves to a superficial study of the market from open sources - some free market reviews from three years ago. But very often it happens like this: "It worked in Poland, it will work here," "We budget 2 euros to attract 1 client, like in the Czech Republic." Then they wonder why the lead is so expensive, or why customers are reluctant to switch from competitors to you, or why they tried your product or service once and never come back.
The solution is to study the market thoroughly: trends, economic situation, competitive environment, customers.
You need to collect fresh information, or better yet, order it from a research agency. Yes, it is expensive, but a mistake can cost you more.
Talk to expatriate consultants, local consultants, competitors' clients - don't be afraid to spend a lot of time on this. Immerse yourself in the environment yourself.
Mistake #2.
Launching in Western Europe while sitting in Ukraine or Poland.
Each European country is unique with its own mentality, way of life, "tricks", humor, tax system, business culture, etc. And if you have successfully launched a business in Poland, it does not mean that the same story awaits you in Germany or France. Moreover, within the country, regions are very different from each other.
Therefore, before starting a business in a particular country, live there for 2-3 months, immerse yourself in the environment, communicate with people in cafes, attend networking and business events.
Mistake #3.
Failure to adapt your product or service to the local market.
It is a big mistake to enter new markets with the same positioning and communication as in Ukraine. Europeans are more conservative and are not inclined to switch from brands they are familiar with out of curiosity. Therefore, communication should be tailored to the European target audience (which you have studied in detail before) and cover its needs and pains."
We'd love to see Ahrefs and SEO community in Chicago!