How To Go Global Using a Business Database
December 10, 2019
Planning to go global or simply in need of a U.S. or UK database, but your existing business database is made up of domestic leads?
You’re not alone. For most American-based B2B companies, data lists are exclusively compiled of domestic leads. So, what happens when you decide it’s time to take your business international? When all the leads on your current list are in the United States, how do you take the first steps toward international expansion?
Included in this guide:
- How International B2B Databases Secure Tremendous Value
- How to Identify the Ideal Time for International Growth
- How to Score Competitive Breakthroughs in New B2B Markets
- Using DemandScience to Conquer New Markets
1. How International B2B Databases Secure Tremendous Value
The good news is that your existing company database is not the only B2B database in the world! Using the proper channels, businesses like yours can access quality B2B databases for any foreign market of interest. These global business database lists secure tremendous value during a B2B expansion.
They Help Attract Exciting International Growth
Global expansion is difficult for any business. It tends to be a significant hurdle for B2B companies as most of them want to sell specialized products or services to a niche business. To go from a domestic market where you know your target market to an international market where you know a lot less about prospective clients is a challenge. Being able to purchase foreign company databases helps companies get over these growing pains, making it possible for more B2B companies to expand internationally.
They Unlock New Markets and Unleash Attractive Growth Opportunities
When you build a list of businesses for your B2B database, you research them carefully, grade them based on potential, and filter out the unqualified leads. The result is that, when your salespeople begin contacting your database contacts, they aren’t wasting their time with low-potential leads. Some businesses are wary of business databases for sale simply because they aren’t sure how qualified the leads are. With the right provider, you can get a suitable list of foreign leads, as if you vetted each lead yourself. This list of vetted targets makes it much easier not just to find a foothold in a foreign market, but to start making fast progress toward significant growth and international brand recognition.
They Reward You With New Markets and Exciting Clients
Entering a new market will always be challenging. Armed with a strong B2B list for the industry and geographic region you are trying to target can help you do it more effectively. There will be less worry about researching and finding leads, and more emphasis on identifying niches in the market or cultivating relationships with exciting and engaging clients.
Without these advantages, breaking into a new B2B market can be fraught with false starts, huge costs, time-consuming research, and outreach attempts that lead nowhere. With them, every step of international expansion becomes easier.
2. How to Identify the Ideal Time for International Growth
Having a well-curated UK or Australian business database will help your B2B business expand to those regions, but it won’t guarantee success. B2B lists are useful for establishing a foothold and building a clientele in a new market. But if your business isn’t ready for international growth—or if the market isn’t ready for your business offering—the expansion attempt will fail, no matter how good the database is.
Ask Yourself These Few Questions:
What Is the Size, Age, or Reach of Your Business?
How long has your business been around? What is your annual revenue? What is your market reach? Asking these questions will help you determine a few things. First, they will tell you where the most logical growth opportunities are. If there are still ample growth opportunities in your domestic market, then international growth might be something you want to push down the road a bit. As for revenue, expanding overseas takes significant resources, so you need to make sure you can afford it.
Will Your New Market Want Your Service or Product?
Whenever you are thinking about launching a venture, you need to assess market needs. This step is vital whether you are an entrepreneurial business taking its first steps or an enterprise about to take its products or services global. Given the cultural, societal, and economic landscape of the market you are considering for expansion, would your business be able to deliver something that companies there want and need?
Do You Have Competitors in the New Market?
If you were to enter the new market you are considering, who would your biggest competitor(s) be? If there is a market need for the product or service you provide, the chances are that there is already a company there trying to satiate that need. Looking at competitors and researching their clients, revenue, and amount of business will give you a better idea of what to expect when entering the new market. If the market is entirely untapped, there is a lot of potential there, but you need to be willing to take a leap of faith.
Giving each of these questions ample consideration should tell you whether your business should expand to a new international market. It will also tell you if you should wait a little while, or if the market you are considering is unfeasible for your business.
3. How to Score Competitive Breakthroughs in New B2B Markets
If you decide to proceed with plans to expand your company to new international markets, there are a few steps you can take to lay the groundwork for a competitive breakthrough. One of these steps, as already discussed, is to get your hands on a business database list. Knowing which prospective clients to target from the get-go will help you maximize the productivity of your first days in a new market. Before you even start reaching out to potential buyers, you should follow these four steps:
Step #1: Learn About the Needs of Your Market
You should have already done some research on market need while assessing potential markets for expansion. Once you decide to start doing business in that market, though, you need to go back to the drawing board and do even more homework. Learn about the needs of your prospective clients. Learn about their pain points. Learn about their missions and objectives. Learn where your competitors are meeting (or failing to meet) the needs of their clients. All this knowledge will help you hone your B2B sales pitch for a new frontier.
Step #2: Seek Legal Guidance to Familiarize Yourself with Compliance Requirements
Every country has its standards and regulations. Marketing, exporting, recordkeeping, and sales transactions may all be subject to unique compliance requirements. The same could even be true of the product or service you are offering. By consulting with a legal expert in the market where you are expanding, you can familiarize yourself with these standards now—before non-compliance becomes a problem.
Step #3: Research Cultural Boundaries of the New Market
Laws and regulations aren’t the only things that can change the way you do business in a new market. On the contrary, you also need to be conscious of cultural norms and customs. Cultural considerations are especially important for marketing and branding, as some logos, slogans, or brand colors could be problematic or offensive to other cultures. Consider these factors with sensitivity and understanding, to avoid running afoul of the contacts on your business list before you even get to the negotiation stage.
Step #4: Team Up With On-The-Ground Distributors or Franchisees
Many things can be done these days via telephone or the internet. However, in B2B sales, face-to-face contact is still sometimes necessary. Having on-the-ground distributors, franchisees, or brand representatives will make it easier to cultivate relationships with foreign clients. This point will prove expressly true if there are language and cultural barriers to navigate.
These steps will help you get your business set up and calibrated for international marketing and sales. Skipping any of them can leave you unprepared to handle the expectations, legal requirements, cultural norms, or logistical hurdles of your new market.
4. Using DemandScience to Conquer New Markets
With a foundation in place for your international growth, you can turn your full attention to building a company database for your new market. DemandScience can help on that front. We offer business databases for sale—not just in the United States, but around the world. Currently, DemandScience covers over 90 countries globally. If you need a Canadian business database, we can provide it. If you need an Australian business database or a UK business database, we offer those, too.
With B2B lists available for different countries or specific geographic regions, DemandScience is an invaluable resource for B2B companies considering international growth. Purchasing a database from us gives you a contact list that you can use to start your client acquisition efforts.
You can also rest assured knowing that business databases for sale from DemandScience are always up to date. Unlike many companies that sell company lists, DemandScience automatically tracks contacts and updates their information. As key decision-makers change roles, leave companies, or switch contact info, DemandScience monitors them and updates all databases in which their names appear.
This “smart and live data” feature means that you waste a lot less time researching B2B contacts. Less time updating dead email addresses or disconnected phone numbers means more time selling. When entering a new market, the effort and time of researching leads always make for one of the biggest hurdles. By eliminating that obstacle, DemandScience drastically simplifies the process of international B2B expansion.
Do You Need a U.S. or UK Database?
DemandScience is a prime source of U.S. and UK databases. Our U.S. databases include more than 19 million contacts, including more than 10.7 million email validated contacts. In terms of types of contacts, our U.S. business database breaks down 185,235 C-level contacts; 231,867 VP-level contacts; 882,768 Director-level contacts; 35,735 contacts for Heads of Departments; and nearly 2.5 million managers.
Our UK business databases aren’t quite as big, but still include a very healthy number of quality contacts. Specifically, our UK database includes just shy of 3.2 million contacts total, 2,282,786 of which are email validated contacts. Our UK contacts span 36,162 unique businesses and again include a cross section of different professionals and decision makers at those companies. Roles represented in our UK business databases include C-level executives (23,611), individuals in VP positions (5,844), directors (168,105), heads of department (96,525), and managers (771,453).
Of course, both our U.S. and UK business databases include detailed information about each contact. By perusing our lists for specific industries, companies, or roles, you should have no problem finding high-potential prospects within your market niche.
If you would like more specific information about DemandScience’s business contact databases for other countries, don’t hesitate to ask. Transparency is a major part of our customer service commitment. At any time, we would be happy to provide you with a statistical breakdown of the other lists we have to offer. That way, you can make a more informed decision about whether buying a contact list is the right choice for your business.
Ready to Get Started?
Expanding into international markets is never going to be an easy thing to do. There will always be hurdles, from the unfamiliarity of the market itself to the cultural and language barriers. When you can enter the market with some awareness of who your target clients should be, though, things become easier.
If you are interested in working with us to spearhead your expansion efforts, start by signing up for a free trial. Whether you are after a UK business database, a Canada business database, or a company list from any of the 90 countries we support, we can help.