As a small or medium-sized business owner, you’ll no doubt want to find new ways to grow your profit margins and expand into new territories.
Australia is one of the world’s most exciting markets, as wealth per adult is the second highest in the world. If you want to expand into the territory, then you should consider promoting your products and services within the country to take advantage of their economy. It may sound tough, but international expansion can be easy.
Below, we round up some things to think about when promoting your products and services to an Australian audience, to ensure you’re targeting the right people and meeting regulations.
One of the first things to think about when marketing your products in Australia is shipping. If you don’t want to launch a distribution centre within the country, then the chances are that you will be relying on your local postal service to ensure goods are delivered.
Not only does post to Australia take a long time, but it can be expensive, especially if you live in the UK or the USA.
For companies selling low-cost products with little margin, then the cost of shipping might be too high to allow you to make any money.
Ensure you have carefully calculated these costs before you begin marketing, otherwise, you could be left in the red when you head to the Post Office!
Taxes and fees
Something else to consider when selling your products and services overseas is taxes. The chances are that you’ll have to pay local taxes when selling your products, especially if you want to form an Australian business or you’re planning on living in the country whilst you’re growing your business.
Swatting up on Australian tax brackets to know how much you’re going to make is key – and understanding the cost of living (rent and utilities are often more expensive than they are in the United Kingdom and the United States) should also be considered before you start.
Although marketing techniques like content writing, social media and search engine optimisation are pretty standard, whatever country you live in, it’s important to be sympathetic to cultural differences. Australians tend to have a relaxed and friendly attitude and like to use slang, which is something you could incorporate into your marketing strategy.
What’s more, Australia is an incredibly multicultural country, with a third of the population born overseas. Being able to appeal to as many people as possible might be tough, but with the right strategy, you can do it.
Something else to also bear in mind before you market your business in Australia is local competition. Sure, you might be the only person to sell eco-friendly pet clothing in your country, but there might be ten competitors in Australia all vying for the same market.
Understanding who and where your competitors are will make you more prepared when you start selling.
If you’re hoping that you can enter the Australian market and dominate overnight, you should be cautious.
Ask yourself questions such as ‘Why would an Australian choose my business over a local competitor?’ and ‘What do I have to offer that’s different?’. Ensure that you have a clearly defined unique selling point, and take your time to launch: rushing could cost you greatly.
There’s no denying that entering a new market can be costly, time-consuming and stressful, but with the right marketing strategy and an understanding of the economy and the people, it’s easy to get right. If you want to take your business global and enter new territories, then Australia could be a good place to start. We wish you the best of luck!