As you begin to expand beyond your native language, you need to consider knowledge of other languages in your target region, as well as consumer behavior, market volatility, and economic growth.
For example, English proficiency is high in db center.uk Germany, moderate in France, and low in Japan. This means that the costs associated with product localization and related communications could differ significantly between these countries.
8. Market Benchmark: Compare your performance with your competitors
At this point, you will have conducted a preliminary market assessment. Now you need to dig deeper into the competition and compare your performance with theirs in order to find interesting marketing opportunities. You can do this in three steps with the help of SEMrush Traffic Analytics :
1. Compare your website performance with your competitors in your home country.
Make sure you are stable in your home. If things aren't going great, take some time to figure out why so you can refine your strategy before venturing into new territory.
2. Compare the performance of your domestic competitors in your new target region.
Find out what strategies they may have tested when they entered the market and take note of the tactics they employed to do so. There is always something to learn from previous market movements and you may not need to reinvent the wheel.
3. Compare the traffic volumes of your national competitors and the local players in your new target region.
Compare traffic dynamics across countries and analyze differences in online behavior in each region. Look for seasonal trends or current events to get a better idea of how to compete in this market.
traffic volumes compared