SFI is one of the top network marketing opportunities represented by its 1.6 million affiliates worldwide. Through the use of Internet infrastructure, SFI can be marketed globally.
You have the option to expand your network starting from your country/region and you can take it further beyond your country’s border. Marketing your SFI business worldwide means more opportunities for engagement and business growth.
Advantages and Disadvantages of signing up people only from your country/region:
- Imagine the increased efficiency and effectiveness of your marketing efforts if you could market to a large group of prospects that share common characteristics and needs, and have a smooth flow of communication.
- Cultural background
Network marketers must remember that true brand intelligence lives at the intersection of head and heart, where the emotional self meets the analytical self. You need to understand culture and other intangibles to communicate effectively and you’re at your best when dealing with people in your home country.
But culture is where you find context and opportunities for engagement and business growth. It greatly affects market demand. The knowledge of your native culture is useful when dealing with home markets but it has little value when dealing in foreign markets.
Having the cultural background enables network marketers to create greater engagement, relevance and grow their business. The failure to acknowledge the importance of culture to brand- and business-building is the same as deciding that you’re okay with being at a competitive disadvantage.
- Geographic segmentation
Geographic segmentation can also be an effective approach for your SFI business with limited budget. You can focus on your defined area and not expend needless marketing dollars on approaches ill-suited for your target geographic segment. You can divide your market by geographical areas, such as by city, county, state, region (like East or West Coast) but you’re missing out on the international region (like Asia, Europe, etc.) because you’re only focussing on signing up prospects from your home country and therefore missing out on income potential outside your home country/region.
Advantages and Disadvantages of signing up people from everywhere:
- Generally language and culture could be perceived as major disadvantage and barriers in marketing your SFI business internationally but there are ways to overcome them. The key to being successful in marketing your SFI business internationally is to understand the role of culture in international business.
- Cultural differences will have a direct impact on your profitability; therefore you need to improve your level of knowledge of international cultural difference in business to help you in building international competencies as well as enabling you to gain a competitive advantage.
- Specifically, you should be aware of the key factors that have a direct impact on your SFI business such as:
1. Communication is the key to success for any business, whether you are operating nationally or internationally, but when operating internationally it becomes even more important due to language barriers. Google translations service with its limitation can provide some help in overcoming this barrier. Another solution that could be effective in overcoming this barrier is, by training people in your downline who understand English, speak the native language and have the cultural background of your prospects.
2. If you are aware of your prospect’s cultural background, then you will be able to adopt better and more suitable advertising methods.
- Cultural awareness is the key to global success of your SFI business. Marketing your SFI business globally involves cross cultural negotiations, establishing relationships with people, who will become your prospective members. It’s important to know whom you are dealing with by knowing what to say and when to say.
- You can overcome the cultural barriers when prospecting outside your home country/region, by learning and analyzing local cultures before marketing your SFI business – know the strengths & weakness as perceived by the local culture.
Conclusion:
Culture acts as a hidden entry barrier, but it can be overcome with cultural sensitivity, hard work and quality. As you expand your SFI business worldwide, you must be knowledgeable of both cultures (Local and Foreign). Don’t limit yourself by prospecting only at your home country/region. Think of the potential income you’ll be missing out as you expand your SFI business internationally.
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