It is always a proud and exciting moment to sign a new customer, whether they are located in France or Azerbaijan, Grenada or Micronesia.
I have been fortunate to experience this time and time again since our inception less than a decade ago.
NB: This is a guest comment by Mike Ford, co-founder and managing director, SiteMinder.
With our presence as a travel technology company now spanning 160 countries on six continents, recently I've been thinking about how we became truly global in a highly dynamic and competitive market – and what factors were most instrumental throughout the journey.
It’s my hope that other entrepreneurs looking to go global – particularly within the hospitality and travel space – can benefit from some of these observations and experiences.
Firstly, "global" needs a definition. It’s a term used loosely, with many businesses that have offices in many countries touting themselves as global.
But often the reality is these "offices" involve no more than a one-man-band working from home, typically in a sales capacity.
Of course, Software-as-a-Service (SaaS) and cloud computing has made it even easier than ever to go global.
If your software offering is cloud-based it can be accessed by any customer, anywhere in the world, at any time, without the need for that customer to install any software at their site.
So does this mean that an SaaS provider is automatically global?
I would say no – particularly in the hospitality and travel space. For us, global really means being local in global markets.
Being local in global markets
If your software is cloud-based, it’s a good start – but in our industry, it’s not the end of the story.
Here are the four key aspects we think important:
1. Have a team to engage with customers in the customers’ time zone
Back-and-forth emails over several days don’t cut it.
If your customer needs urgent support, you need to be picking up the phone when they call.
If your support is over live chat or email, you need to guarantee quick turnaround times.
2. Speak the local language
Phone or email support in your customers’ time zone is great, but only if you speak their language.
According to Forbes, 72% of customers prefer to make a purchase in their own language and remember: English is not the primary language in 57% of the fastest-growing markets.
While most people do speak English, they also want to feel that you are considering their needs.
There are two ways you can address this:
- employ staff who speak your customers’ language and are available to your customers in their time zone
- localise the language that is presented in the user interface of your cloud-based products.
3. Maintain face-to-face presenceDoing truly global business means having people on the ground that can meet face-to-face with existing customers, prospects and partners.
Even though the world is turning digital, there are some things – like eye-contact or a physical handshake – that cannot be replaced.
4. Support yourself with the right systems and processes
This includes everything from how your products handle taxes and service charges to how you collect payments from your customers.
These often differ between countries and regions. Adapt your business processes and products to meet local needs.
The ingredients to getting global right
So now that we’ve looked at what it takes to truly be considered global, what are the ingredients to getting it right?
Here are five of the top things we found essential:
1. Have the desire – lots of it
Without this, you may as well throw in the towel.
Be sure that this is the path you want because going global takes time, dedication and funds.
A clear focus needs to inform everything, from the way you hire to the partners you choose, and even the product enhancements you make.
You have to want it – bad.
2. Map out a path and make it progressive
It can be a mistake to try to do too much too soon, and to penetrate too many new markets simultaneously.
Map out the countries that best fit your product or service and tackle those first.
Once you find success there, you will be better positioned to turn your attention to other markets.
Be strategic and deliberate, not random.
3. Ensure you have the right resources and partners
Starting global operations requires knowledge of local markets.
It can also be financially draining, as you have to support the cost of new operations before you can even earn revenue or gain momentum in that market.
Investors and board directors with experience in expanding technology companies globally can help.
Don’t spread yourself too thin for the sake of being global or unduly risk your successful home-market business in the process.
4. Take the risk to experiment
It is possible to do too much research.
If you are unsure of how a potentially-lucrative market will respond to your product, or whether your product is actually ready for a new market, sometimes the best research comes from selling in that market on a limited basis prior to you investing significantly in setting up there.
Often, this is the optimal way to discover product shortcomings and learn about the degree of customisation needed for your product.
5. Inject the winning culture
Typically, you will be considering setting up global presence because you have been successful in your home market and want to expand.
If this is the case and if it’s possible, ask some of your existing staff to move to the new market to help you set up.
You want your new operations to inherit the very DNA and culture that made you successful in the first place.
Unwavering commitment: the final ingredient
Less than a decade ago, SiteMinder was born as a simple concept to introduce a way for hotels to reach multiple booking sites – simultaneously and with no effort at all.
Our journey to global has demanded commitment from Day 1. Commitment to servicing and supporting our customers across the globe. Commitment to providing solutions for our hotel customers to access their own customers around the world. Commitment that doesn’t waver.
NB: This is a guest comment by Mike Ford, co-founder and managing director, SiteMinder.
NB2: Global travel technology image via Shutterstock.