If your business is well established in its own territory, there will soon come a time when you will look beyond your current market, wanting to expand into new regions. With established success in your own niche, it can be tempting to simply continue using the same message, strategy, branding and methods of communication. However, in order to effectively enter it, it is important to fully understand your new market by researching it thoroughly. Understand your customer Every town, city and country will have a certain culture and particular customs that are unique. Knowing and understanding these can help your business to refine its product or service to suit it exactly, as well as the way it is marketed. For example, in Russia, yellow flowers are a symbol of infidelity and the end of a relationship. For a flower or events company, knowing this small fact can help to avoid mistakes that could cost a business its image and reputation. Save costs Armed with this behavioural knowledge of your new audience, marketing, advertising and product development costs can be streamlined, rather than wasted. If your normal tactic is to invest in e-mail marketing but your new audience does not have widespread access to this technology, then this budget can be allocated elsewhere, to an area where it will be more effective. Identify new opportunities As well as informing a business on what actions and areas it should be avoiding, market research can also give insight into new, unforeseen opportunities. By understanding the lifestyle, wants, and needs of an audience in a particular area, you might be able to identify a gap in the market that only you can fill. Increase sales By combining improved audience understanding with a refined product offering, you can quickly drive more sales successfully when entering a new market. Without this targeted, strategic approach, businesses can waste huge amounts of money on the initial entering process, without seeing any of it returned. As part of our complete language service, we offer an intelligent market research solution, arming businesses with important insight when looking to enter new territories. Get in touch to learn more about how we can help your business expand.