In Colombia, we often face the challenge of finding niche markets with sufficient budgets to purchase our services, which, although not expensive, often represent a financial challenge for micro-enterprises and low-capital ventures. The internationalization of services therefore appears to be an interesting alternative, allowing us to target other regions of the world where economic conditions may allow for greater flexibility in negotiations.
Below, we will show you the reasons why we have relied on internationalization as a great strategy to help companies in the service sector boost their sales and stabilize their economy:
If your business is facing an overly competitive local market, where marketing is becoming a headache, it may be time to look elsewhere.
If you provide remote services, such as cloud software, programming, or online consulting, you could explore markets where demand is less saturated.
This could be the golden opportunity you’ve been waiting for.
Whether it’s because your region’s economy is in crisis or because you’re simply facing a saturated market niche, exploring opportunities in other countries could allow you to penetrate regions where your ideal price is truly competitive. Many companies around the world are considering outsourcing services to countries with a lower cost of living, such as India, China, and even Latin America.
We recently published an article on why companies abroad outsource remote services such as digital marketing, which may be of interest to you: 5 Reasons to Outsource Your Company’s Digital Marketing.
Simply setting the price of your services in dollars could be an advantage if your country’s currency tends to devalue. With a stable or rising dollar, you could experience financial gains that are unrelated to your operating costs.
We have often seen companies forced to diversify their service portfolio to increase their commercial expectations, when in reality their true differential or level of expertise lies in specializing in a very specific service. Expanding your regional reach by exploring other countries allows you to better refine your target audience, communicate much more assertively, and better satisfy your customers, without worrying about targeting a very limited clientele.
If your business is in a position to provide remote services and you believe you can benefit from internationalization, don’t hesitate to contact us for a free assessment.
We have methodologies that allow us to explore the demand and size of international market segments:
