Global Marketing Strategies
Name this company’s slogan: “America Runs on Dunkin”. If you guessed Dunkin’ Donuts, you’re correct! According to Statista, Dunkin’ Donuts makes up roughly 25% of the coffeeshop market share here in the US. With such a large presence and a very “American” slogan, it’s hard to believe that some of their most famous menu items are not sold here. Instead, their best sellers such, as China’s Dry Pork and Seaweed Donut, Korea’s Grapefruit Coolata or even Russia’s Dunclairs, are global hits. Taking into account each region for their chains, Dunkin’ Donuts has come up with varied marketing strategies to ensure their continued success.
Companies across the globe are embracing similar strategies as Dunkin’ Donuts when it comes to marketing their businesses. In China, where videos are the most influential mode of advertising, businesses focus on live streams where they’re able to incorporate their viewer’s opinions instantly, creating viral sensations. In India, potential consumers are more influenced with mobile focused advertisements so SMS messages and WhatsApp marketing tactics are strong contenders for their preferred mode of outreach. In Myanmar, where Facebook is the number one social media channel, companies focus on running Facebook advertisements instead of traditional print or television advertising, not only reaching more viewers but also saving a significant amount of ad dollars.
What can we learn from Global Marketing Strategies?
- Find Your Audience– One of the biggest mistakes businesses make is failing to identify the intended audience and focusing on general marketing initiatives. Instead, hone in on who you are targeting and then analyze where this demographic is most likely to see your message. For example, millennials prefer Snapchat and Instagram to Facebook, women are more prone to purchase from Pinterest recommendations, and no one falls for clickbaiting.
- Personalize Your Marketing Initiative– Dunkin’ Donuts might be an American staple, but Dunkin’ Brands has about 43% of its locations in the international markets. If you’re a US based business looking to expand globally, blend in with your audience. What works for one demographic doesn’t necessarily attract another. Tailor your messages to your audience!
- Spend wisely- When cash flow is constrained, the marketing budget is usually the number 1 department to reduce funds. This, however, is counterproductive. Take inspiration from places like Myanmar where they focus their efforts on inbound marketing to save time and money. If you have no way of getting your brand in front of potential customers, you’ll have a very hard time increasing sales!
At the end of the day, marketing is marketing, but finding the right avenue to reach your audience will increase your likelihood to succeed tremendously. Take cues from businesses around the globe to see fresh ways to present your data and implement them into your yearly marketing plan!