There has been a lot of talk about the global halal industry and the immense opportunities it offers to individuals and companies which are involved in doing halal businesses globally. However, many of them are struggling to grow beyond their local markets. Of course, there are quite a few reasons behind the sluggish performance of these wannabe global halal businesses. The reasons could be language barriers and time differences or, simply lack of communication among the prospective buyers and sellers. Today, we want to discuss the most important reasons due to which these businesses are finding it difficult to go global. So, what is the best way for halal businesses to expand their reach worldwide and start exporting to foreign countries?
They need to become real experts in whatever they are offering to their potential customers worldwide. Let`s dive deeper into what that means for us all, the wannabe exporters of halal products and services in 2020 and beyond.
How To Expand Your Halal Business Globally in 2020?
What Do You Need To Focus On To Go Global?
Develop a professional team which is ambitious, and is ready to understand the international business environment in various markets of your choice. The dream team could be you only or a number of people who share your vision to expand globally. They should be willing to learn the nitty-gritty details of all the aspects of doing business internationally.
As a first step, the team should be actively looking for opportunities in various markets and the changing economic trends in different regions of the world. They also need to know the buying behaviors of the Muslim population in the countries of your interest
Consult a local business development expert in your target market who understands the local market and culture to help you make decisions on the tastes, choice of products, packaging, size, and color choices, etc. You may know during these consulting sessions that, some of your products may not be appealing to the local Muslim population due to lifestyle differences. So, you have to adapt your product offerings for a smooth expansion into the market in question.
Spend your budget wisely. Prioritize the tasks needed to penetrate the market in question. Create an awareness in the target market about your products and/or services by having effective online visibility. Spread the word about your products via social media (preferably in the local language). This is important for creating demand even before you actually start exporting to that country.
Having an effective marketing penetration strategy is important for expanding your halal business globally in 2020 and beyond. Halal Biz Matching platform could help you formulate a business expansion strategy for the international markets. So, do not hesitate to contact us should you have any questions/comments to discuss any business-related issues with us. You could reach us via email at firstname.lastname@example.org