As trade barriers continue to fall, more marketers are exploring the option of expanding their operations, internationally. The rapidly developing economies of the BRIC group [Brazil, Russia, India and China] hold the promise of huge sales for many marketers. New research shows that more companies, even those who only currently do business in the U.S., are making a global push.
A study published by the Public Relations Global Network finds that over 40% of organizations are currently engaged in global marketing. About 70% of surveyed companies say they plan to put a global marketing function in place within the next 5 years.
Some industries are more likely than others to tap into this trend. The industry sectors which have already expanded to international markets in a big way include manufacturing, commercial and professional services, media, and food and beverage. The specific goals to be met during international expansions include:
- Brand awareness: 50%
- Improved company reputation: 49%
- Support of overall business strategy and objectives: 44%
The foray into the international arena is not without challenges. Survey participants note that they try to develop relationships with international partners and more than half interact 3–4 times a year. About 40% of these interactions involve communications struggles as a result of language and cultural differences. But communications professionals are not likely to let these problems deter their efforts. Francine Robbens, PRGN president and partner at Brussels-based PRP-Public Relations Partners, says "Communications professionals see clear benefits in fostering global relationships."[Source: 70% of Corporation communicators Expect to have a Global Marketing Function. PRGN.com. 24 May 2011. Web. 22 Jun. 2011]