Managing international e-commerce and social media without losing your way
Undoubtedly, this is the e-communication era. It has been demonstrated that social media is an essential part of our lives. This is so important that it has become a decisive branch of the marketing world. E-commerce and social media have become a worldwide revolution for domestic and international trades. Nowadays, international business is easier than ever. However, differences across borders must be considered in order to achieve the desired success. Read on to find out how HSNstore.com profits the advantages of social media and e-commerce doing business internationally!
How e-commerce and social media have revolutionized our world
Look around! How many people are using their smartphones right now? Today finding a place where nobody is holding a smartphone is almost impossible. This is the reason why marketing has changed so much and advertisement has done a u-turn. In the e-communication era, buying any product or hiring any service is easier than ever before. In many cases, it is not even necessary to leave home to acquire things. They are just a click away. Furthermore, all the information about the product is available online, even the opinions of previous users. These are just a few reasons why companies invest in online advertisement, and why they design social media strategies.
On the other side, many companies have already recognised the great potential of e-commerce. Some of its advantages are allowing for savings in storage costs, eliminating the need for intermediary companies, and increasing their marketing share, among many others. As we do, many companies seize the benefits of online stores. Many offline stores also have an online presence because of its numerous profits.
E-commerce and international business
Thanks to the revolution of the internet and the new technologies, doing business internationally is easier than ever before. More than ever, it is possible to add new contacts and reach potential customers on the other side of the world. However, cultures, economies, governments, and education change from one place to another. Every company must consider these differences and invest time and resources to understand the new environments in order to succeed in other countries.
Since HSNstore.com was born in 2008, our company has become one of the most important online stores of sports nutrition and health food of Spain, and our community in the social media world is very committed. As you can see on our website, despite our company was established in Spain, our products are delivered to customers in many other countries. Specifically: Italy, France, Germany, Belgium, Denmark, Austria, Luxembourg, Netherlands, Czech Republic, Poland, Hungary, Slovakia, UK, Slovenia, Sweden, Ireland, Lithuania, Estonia, Latvia, Croatia, Romania, Finland, Bulgaria, Bosnia, and Greece. Of course, to achieve the success we wanted to reach in these countries we had to take into account all the considerations mentioned above.
What should be considered in international business?
Of course, becoming a successful entrepreneur in domestic business is not that easy. However, becoming a successful entrepreneur in international business is even harder. Companies often dominate domestic trades quite well. But when it comes to doing business internationally, it is very important to learn everything about the new environment before the first investment.
The economic environment
When it comes to the business world, economy is one of the most important elements to consider. Regarding the economic environment, there are three types of countries:
- The more developed or the industrialized countries: They are expected to be rich countries, and to have better systems of education, health care, technologies, infrastructures, and so on.
- The newly industrializing or emerging economies: They are moving from poorer to richer.
- The less developed countries or the third world: They are supposed to be the poorest ones.
According to the economic development of each country, there are also a division of three types:
- Free-market: Government does not intervene too much in business activities. Production and prices are determined by market forces of demand and supply.
- Centrally-planned: Prices and production are determined by government.
- Mixed: some activities are determined by government and some activities are determined by market forces.
Government and politics are an essential part of a country. Their relationships with business is also different from country to country. Before going into business in a new country, find out if it would offer you a positive relationship. Remember that countries might have very different political systems. Take into account that it is not the same dealing with multi-party democracies, one-party states, or constitutional monarchies, as dealing with dictatorships.
Differences among cultures are essential to the success of your company. Culture is the set of values and beliefs shared by a nation. You might consider them to become a successful businessperson, as well as the location of the new country, its history, language, government, education, and so on. Before establishing your company in a new country, find out how people consider individualism, accept or deal with uncertainty, accept and sanction differences in power, and if they follow traditional male and female values.
Of course, our company has considered all these facts before crossing frontiers. As you may notice, our main international customers are located in the European Union. This way, in our case, dealing with all the aspects mentioned above was not that difficult, because these countries share many common aspects. However, we actually have to consider many other important elements: currency, schedules, delivery times, distances, prices, economy, habits, traditions, and so on. This, together with the effort of a great team, is the key of our international success in the e-commerce and social media world.