Guest speaker was Remy Bendayan, working in Dublin at Google Growth Accelerator for French startups that have reached market fit. Google Growth Accelerator is part of the Start-Grow-Scale initiative launched by Google to help start-up at various stages. It is a special team at Google dedicated to startups which are looking for a rapid growth on Google AdWords, Analytics, YouTube and other Google products.
NUMA’s Scale Hub program at Station F is a business launchpad for international startups to launch their startup in France and Europe. NUMA has been partnering with Google for years in order to offer the best expertise to early tech startups. Here are some useful tips to grow and export your business!
The first thing to do when exporting and growing your business abroad is to think about all the opportunities of growth and gather as much information as possible. There are plenty of tools to help you identify your business potential, here we give you some.
When entering a new market, you have to take into account lots of elements that may differ from one country to another. For example, regarding consumer behaviour towards payment methods, consumers in France will have radically different attitudes compared to their German neighbours. Besides local demand, you also have to carefully target your audience and analyse local competition. And never forget about optimizing your UX, localizing your website/app and providing global customer care!
Once you have validated your product/market fit, you can also consider Paid Acquisition as part of your growth strategy, but be careful: it requires a lot of cash! So be sure to be ready before implementing it.
You can’t buy a product you don’t know, and turning your audience into potential customers is a process that takes time – lots of time. Before all, you need to understand and define your audience and build an adequate conversion funnel. First, you have to connect with your audience and raise awareness about your product/service. Then you have to make potential customer think about your product/service, and finally make them interact with you and care about your product/service before becoming loyal customers.
As you won’t display the same message to someone who has never heard about your product/service, and to someone who has already subscribed to your newsletter, it is very important that you segment your audience and target each group differently. And because today’s customer journey is very complex and fragmented (mailing, video platform, display, SEA, retargeting…), it is crucial for you to adapt your message and use different channels available and different strategies (eg. by using growth hacking) to have the best impact on your customer: target the right person, at the right moment, with the right message. All those strategies have to be carefully designed in order to acquire new customers. It is also very important that you allocate the right resources here (financial, human, technical…) if you want to be successful.
Building a smart conversion funnel is a crucial step to prepare first activation and reach new customers so do not rush in, take your time!
It’s now time for optimization! Tracking is the key for growing your business efficiently. Work on your CPA (Cost Per Acquisition), define KPIs for each stage of the conversion funnel, pick up the good channels and tools for you to use. It is also very important to define a good attribution model, meaning which percentage you attribute for each step of the customer’s journey when acquiring a new client. There is not one ideal attribution model but plenty, so pick up the best one for your business and then stick to it (eg. the last channel before purchase).
When deciding to export your business abroad, some tools can be particularly useful to give you insights about markets per vertical, growth or behaviours such as Google Consumer Barometer and Google Market Finder.
Part of a global strategy to help entrepreneurs build successful companies, Google has recently launched a platform listing all of their “products, insights, and community programs, to support those who move things forward”: https://startup.google.com
You have a question about startup internationalisation? You want to meet us? Send us an email at [email protected] or come to us anytime at the NUMA space (CREATE zone, block 7, 2nd floor).