I’ve never met a business that is hoping to FAIL when entering a new market. But, sadly the odds aren’t always in their favor.
However, there is one strategy that I’ve seen work with an 80% plus success rate in China… capitalizing on the brand’s reputation and popularity within their home country.
Let me explain.
If you’re not currently doing business in China, but you’re killing it at home, your odds of success increase dramatically. With a proper plan, you can effectively replicate that success OUTSIDE China INSIDE China.
Reputation and word of mouth are key here. And Chinese consumers often take their cues from KOLs who are following other top influencers OUTSIDE of China.
On the other hand, if you’re relatively unknown in your own country the deck is already stacked against you. It’s not impossible, but you’ll need something to set you apart (origin, legacy, exclusivity, an incredibly unique product, valuable IP, etc.)
If you haven’t done any sort of activation or engagement with Chinese consumers, you’re going to find it hard to make money.
China favors the “second mover.” Take the time to properly activate your brand and build a reputation BEFORE trying to jump right into commerce. The results will speak for themselves...