6 good reasons to go international

What companies can expect when they go international

You want to go international but don’t know where to start? You should first ask yourself why you want to internationalise. This is an essential but often forgotten step. But beware, there is no “one” right reason. Drivers can vary according to many factors: the size of your company, your sector of activity, or the location of your home market. To help you in this process, we have listed 6 good reasons why you should consider international expansion.

1. Push factors that drive you abroad

 You have to protect your business by diversifying the risks

How does internationalising your company protect your business? 

First of all, by focusing on your home market, you expose yourself to a specific risk, that of domestic market saturation. Indeed, a study conducted by the consulting firm A.T. Kearney showed that 24% of Swiss SMEs surveyed went international because their current core markets were stagnating. If demand is declining or stagnating and you are present in only one market, you will have a hard time bouncing back. But if you are present in several markets, you will find it easier to adapt. On the one hand, because having difficulties in a specific market does not mean having difficulties in all markets, and on the other hand because other markets can counterbalance those in difficulty. 

In addition, certain economic risks may affect some markets more than others. Diversifying your markets therefore makes it possible to avoid suffering the full brunt of a fairly localized crisis.

 You have to evade a strong competition in your home market

Are you unable to find your place in your home market because the competition has become too strong? Do you want to explore beyond your borders to establish yourself in a new market that will encourage you to innovate to meet different needs? Do not hesitate to test, explore, discover and above all develop new services and products in new markets! If they are successful, you can also offer them in the original market and thus distinguish yourself from your competitors.

2. Pull factors that make internationalisation attractive

 You can gain access to a wider market

Internationalising your business will allow you to reach a larger number of potential customers and to find more partners to work with. Moreover, opening up to a new market also gives you the opportunity to discover new expectations, new demands, new customers. A study by the consulting firm A.T. Kearney showed that 56% of Swiss SMEs have opted for internationalisation to access new customers and markets. These will allow you to expand your range of offerings, strengthen your value proposition, and guide you towards strategic growth.

You can recruit new talents and new profiles

Opening your business to new markets will give you access to a variety of profiles from different cultures. These will certainly open the door to a new network of people. In addition, you will find it easier to recruit talent with specific skills that are in demand abroad, for example in countries specialising in certain sectors. For example, if you work in the automotive sector, it can be relevant to set up in Germany, a country with expertise in this field.

You can reduce your costs by achieving economies of scale 

Yes, expanding your international presence will reduce your (average) costs. A study by the consulting firm A.T. Kearney showed that 26% of Swiss SMEs have gone international to reduce their costs. Indeed, the expansion of your company will lead to an increase in the quantity of services or products offered on the market, which will lead to a decrease in the unit cost of production, and therefore to an increase in margins. 

You can increase the visibility and image of the brand

Developing your business abroad will allow you to strengthen the image and visibility of the brand. By going international, you can expand your network and you will be confronted with a much wider customer base than in your home country. Your company will immediately appear more attractive and developed. If your potential prospects realise that you are present in many other countries (via a world map of your international presence on your website, for example), you will give off a feeling of confidence and success.

3. How Wyngs can help you in the internationalization process

At Wyngs, we support you during your internationalization, from preparing to enter new markets to carrying out the first marketing actions. You want to internationalize but don’t know where to start? You think your business is stable enough to start expanding but have no idea which new market to turn to? Please do not hesitate to contact us, we will be happy to answer all of your questions!

Übersetzung traduction translation

In the context of international expansion, one confronts the topic …

Looking for the lost unicorn. Now the time has finally …

Kulturelle Unterschiede

Globalisation has changed our society and, of course, has not …

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International Readiness Workshop

The status quo before the project

The DACH market had been identified by the Collective Thinking management as a strategic target market in Europe. First business development and sales actions have been conducted by the first German team and a GmbH had been established. 
The CT team wanted to continue to build their knowledge of the German market, the identification of key partners, key client groups in order to better evaluate business development potential and sales targets. This knowledge shall help define an appropriate strategic and operational marketing approach for CT in the DACH markets. CT is also in the process of raising a Series A funding round, a European approach can be evaluated in this project.

What we did

Wyngs wanted to support the Collective Thinking Team to create a strategic and operational roadmap for optimized business development and marketing/communication, with a special focus on developing the DACH markets – Germany, Austria and Switzerland.

We prepared a 1-day workshop, divided into 2 major parts:

  • Review of existing actions, the discovery of the key players and potential business development partners, enhancing market knowledge. 
  • Creation of a strategic and operational business development and marketing plan for 2021. 

Presentation of results of the workshop in the form of a roadmap to concretely address the mentioned challenges.

CEO Vincent

The “International Readiness” workshop with Wyngs allowed the German team of Collective Thinking to better understand and define the needs of the German market, particularly in terms of marketing strategy & business development. If you too are planning to develop internationally, Wyngs would be a very good partner to succeed in these first steps, which are essential for successful development.

Vincent Susplugas

CEO Collective Thinking

CEO Vincent

The “International Readiness” workshop with Wyngs allowed the German team of Collective Thinking to better understand and define the needs of the German market, particularly in terms of marketing strategy & business development. If you too are planning to develop internationally, Wyngs would be a very good partner to succeed in these first steps, which are essential for successful development.

Vincent Susplugas

CEO Collective Thinking

CEO Vincent

The “International Readiness” workshop with Wyngs allowed the German team of Collective Thinking to better understand and define the needs of the German market, particularly in terms of marketing strategy & business development. If you too are planning to develop internationally, Wyngs would be a very good partner to succeed in these first steps, which are essential for successful development.

Vincent Susplugas

CEO Collective Thinking