Are you making the most from your potential customers abroad?
Locating your best customer abroad can be challenging. Take India for example, it is predicted to become the 3rd largest consumer market by 2025 and is already the UK’s 13th largest goods and services export market, accounting for 1.7% of the UK’s total exports*. Not knowing how to reach your profitable customers can make it a costly and timely marketing exercise.
India has long been a strategic minefield for marketers looking to expand or break into this market. Struggling to gain crucial insights, who to target and where to locate your business, means a lot of time and money is wasted. Ultimately understanding this global audience is an issue that we recognise needs addressing.
Imagine if you could fulfil the following due diligence before launching into new markets. You could:
- Gather insights on customers that could not previously be accessed, allowing you to build a cohesive picture of what your consumer looks like to successfully market to them
- being smarter with data by only targeting specific consumers, which means you can target the right people, increasing your ROI
- understanding the makeup of retail catchments/top performing stores and identify new store locations, so you can put yourself in the best place for your best consumer to find you
- understanding your global audience when used alongside other CAMEO country insights
The research figures
Imagine if you knew the affluence levels of different areas in India, right down to the village. ‘We undertook some research in West Bengal which showed that despite having more households that fall into the lower end of the Affluence Indicator Deciles (pictured below), compared to India as a whole, it has more households with higher quality internet connection. It is a rural area with a population of 91m comprising 19m households of which 37.6% fall in the higher Affluence Indicator Deciles. This insight can be invaluable for businesses wanting to understand their potential target market and in helping to increase the effectiveness of future marketing campaigns.’ Dan White, Business Development Manager – CAMEO International, Callcredit Information Group. The level of detail in the affluence model shown on the heat map below is unprecedented for India:
Picture caption: A heat map of West Bengal providing an affluence indicator
In addition extra information such as the presence of children, household size and property tenure can also be identified at a granular level, helping you effectively target your best consumer.
This unique model allows you to target the right audience, in the right location. Instead of targeting a 1.3bn population you can hone in on your most profitable consumer, increasing your business revenue.
To get a solution to find your best international consumer and boost your ROI abroad, CLICK HERE.
*Statistic taken from a report by Boston Consulting Group