Why Tech Companies Need to Think Internationally
With 30 years of international sales and marketing experience, Dara Creative Chairman, Harry Largey, explains why it’s important to think on an international scale if Growth is on your agenda.
“And the day came when the risk to remain tight in a bud was more painful than the risk it took to blossom.”
― Anaïs Nin (20th century French novelist)
Building and growing a technology business in Ireland is a significant achievement, and one worth celebrating. It can be a tough industry to stand out in, and one which requires great planning and effort to grow. Growing your business and customer base in Ireland, however, is just the first step towards building international growth.
It would seem that we are not constrained by a lack of growth opportunities or aspirations, rather by the specific sets of skills required to execute on growth aspirations. In launching their International Markets Week, results from a recent survey from Enterprise Ireland found that:
- 44% of respondents consider the Eurozone to be one of the main target regions for their business, with 30% selecting North America and 15% favouring Asia Pacific.
- Within the Eurozone, respondents indicated Germany (22%), France (16%), Netherlands (14%), Belgium (11%), and Spain (11%) as countries with the most export potential for their business.
- The main challenges seen in entering the new markets were lack of market information (23%), costs of exploring and testing market (22%) and associated people costs (17%).
So we are all considering international growth, but it’s worth delving deeper into why we should do so when we could perhaps build a smaller profitable business with customers in Ireland. There are a number of core reasons why:
We represent 0.06 % of the global population
The opportunity in Ireland is interesting, but small by global standards. Size of the population isn’t the only limiting factor - we are not at the forefront of new technology adoption by global standards and as such we may be slower to embrace and utilise the amazing new technology solutions being developed by existing and newly formed businesses in our world-beating startup ecosystem.
It has never been easier to build a global business from Ireland
We sit as a bridge between Europe and the American markets. Our EU membership and close ties to the USA and Canada give us multiple willing markets on our doorsteps, and the power of modern marketing and communication techniques allow us to engage customers globally from an office in Ireland.
Operating internationally opens up a range of opportunities and ideas that you may not have seen if you had been restricting your horizons to Ireland. New customers, new solutions, new partners and new employee talent are vital lifeblood for growing businesses, and they are all at our doorstep.
Most technology businesses have a business model that includes international growth – it’s the big opportunity that the core teams and early investors bought into. As well as being able to grow internationally, it may actually be a business model necessity to deliver on the big bold goals and visions that everyone bought into.
We’re good at it
Irish companies and our people are well received everywhere we go. We are a nation of explorers and storytellers and have a great reputation and network globally that is waiting for us.
So now you know why you should grow internationally, let’s talk about how you can do it
Growth Marketing is the ideal solution to the challenges that come with attempting to grow your business internationally. We have developed a marketing, branding and design programme designed to help businesses achieve growth in the home market as well as overseas. Focusing on your ideal target audiences, Growth Marketing concentrates on developing a marketing strategy centred around engaging and delighting prospective and current customers. Building International Growth and bringing the value of your products and services to bigger broader markets is an exciting part of the opportunity ahead for technology companies. By planning for success, learning from others, and collaborating appropriately, the opportunity may be closer, and bigger, than you think.
For more on Growth Marketing visit take a look at our information page.