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Digital/Social Media Supported Internationalisation

Dr. Jim Hamill www.energise2-0.com@drjimhamill November, 2013

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A Step Back in Time

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1986

Public policy question: How do we encourage more of our SMEs to become global in orientation and strategy?

Numerous research studies identifying the main barriers or obstacles preventing SMEs from expanding abroad

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Internationalisation Barriers

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2013

Almost 30 years later we are still asking the same question, still doing the same research

We even have research papers researching the research

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2013 Questions

Is it time for a radical rethink of our approach to SME internationalisation?

Do we need Export Support Policies and SME Export Strategies ‘fit for purpose’ in a Connected World?

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Why Now?

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Why Now?

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Why Now?

Social Media + Connectivity + Mobile + The Cloud + Big Data + Gen C

= The End of Business as Usual

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The Connected Customer

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The Connected Customer is also the Connected Employee

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Connected Employees

• Fifty per cent of the world’s population is under 30 years old

• Digital natives and digital immigrants = majority of the workforce

• Impact on the world of work?

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Digital Natives (2005)

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Digital and Internationalisation

Used effectively, Digital Technology and Social Media can help to overcome many of the ‘traditional’ barriers to internationalisation facing SMEs

But only 10% of Scottish companies have a clear Digital Strategy to support internationalisation (The State of Digital Scotland Survey, 2012)

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New Evidence

‘Scottish Export Survey, 2013’

• Only 7% of surveyed companies claimed to have a well-defined digital/social media strategy to support internationalisation

• However, 58% were ‘actively learning more about social media’ or ‘beginning to develop a digital/social media supported export strategy’

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Recent Developments

Evidence of some recent developments in this area but based on a ‘build it and they will come approach’

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Digital/Social Media Supported Internationalisation

10 Action Points

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1. Know Your Market

Use of digital and social media for Export Market Research andassess your readiness to export

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Wide Range of Resources Available

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2. Shut Up and Listen

Set up a Social Media Listening System

Develop your export knowledge and keep an ear to the ground for export opportunities

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Social Media Listening System

• Lack of foreign market knowledge and limited resources for export market research/country screening are two of the main barriers to SME internationalisation

• Used effectively, Social Media Monitoring Tools can help to overcome these barriers

• Online conversations are already taking place relevant to your business, your brand, your industry. Are you ‘listening’?

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Social Media Listening System

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Feedly - China

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Feedly - China

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3. First Impressions Count

What does your current web site/social media presence say about your company your brand to potential international customers? Are you happy with your digital footprint?

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Multi-Lingual Web Site

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e-Marketing for International Markets

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4. Tell Your Story

Do you have an agreed Social Media and Content Marketing Strategy for ‘telling your story’?

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Content Marketing

Content Marketing is the new Export Strategy

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The Elevation Principle

Great Content +Other People –MarketingMessages =Growth

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Great Content Ignites Your Business

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Create Music Not Noise

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Build Your Social Media Presence

In a digital era, success in international markets will depend on:• The quality of your online network• Relationship strength• Ability to leverage that relationship

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5. Build Relationships

Relationships and network marketing have always been critical to export success

Social media is relationship marketing on steroids

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The Importance of Key Influencers

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6. Participate in International Networks

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Industry Specific

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For the Oil Industry

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Groups & Forums

• Search, Join, Lurk, Participate in Social Media Groups/Forums

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7. e-MarketPlaces

Participate in e-marketplaces where appropriate

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Online Markets

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8. International Trade Missions

Jump on a plane and sock it to them – but use social media to build the right contacts first

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Support International Trade Visits

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9. Internal Social Business

Use social technologies internally to improve internal efficiency, reduce costs, build an innovative customer led

company

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Productive Time

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Productivity Busters

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Are You Export Ready?

Internal use of social technologies can make you…..

And improve

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10. Measure Performance

Should be undertaken at three main levels:

• Individual social media channels

• Overall ‘buzz’

• Business Impact

A wide range of performance measurement tools and apps are available

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Conclusion

• Are we in danger of becoming a dinosaur nation in terms of global markets?

• Digital Darwinism

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Digital Darwinism

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Digital Darwinism

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It’s the most adaptable that survive

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No business is too small to succeed

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Are we ready to evolve?

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Export Planning Pays

• Agree Vision, Strategy, Objectives, KPIs and Targets• Plan the Work and Work the Plan• Be ‘Customer Led’– Who are my customers?– Where do they hang out online?– How can I best engage with them?

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Thank YouDiscussion/Questions

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