News

Using apps to expand your business into new markets

By Hassan Khalid
21/02/2019

Using apps to expand your business into new markets

Expanding into new markets offers enticing opportunities for your business. If utilised correctly, these foreign avenues could boost sales and lead to higher revenue. For the purposes of safeguarding, it may even reduce your dependency on other markets by adding alternatives into your operations. The increased exposure could also give you a competitive advantage in your current market.

To make the move into a different market successful, companies both large and small have made the most out of apps and software to increase adoption of their product. An aesthetically pleasing app experience has given many businesses the competitive edge in a new market. Creating something that provides a seamless experience has helped many expand into new fields and locations.

Globally, brands and platforms across the business world are highlighting just how game-changing expansion can be.

Red Bull

Red Bull is well-known as the brand behind the energy drink that gives you wings. However, their advertising into extreme sports quickly turned into complete domination. With the creation of the Red Bull Media Company, they became one of the world’s leading content providers and took brand exposure to the next level.

They distribute their content across the internet in various ways. By developing their own app, Red Bull TV, they offered unrivalled access to sports, esports, and music festival events. Their new avenue brought in its own revenue and, through brand awareness, supported energy drink sales. From brand to publisher, the move paid off remarkably well for Red Bull.

Airbnb

Exploring new niches or markets also works for platforms. With air travel expected to double by 2035, Airbnb is pouncing on a tremendous opportunity to tap into the rapidly growing transport sector. They are also aware of the problems that plague the industry. Bold plans became a concrete commitment when the company hired former Virgin America boss, Fred Reid, to help build an innovative service. This would rely on apps to build an end-to-end travel platform.

Although the success of such a service is down to speculation, the pay-off could be highly lucrative.

Considerations before entering a new market

Before embarking on market expansion, embrace yourself for challenges and risks that require thorough strategy and planning to overcome. Ensure you’re ready the cultural, product, and regulatory differences of the market you’re about to enter. These can have a significant impact on expansion.

Arm yourself with a strong management team with personal experience in the sector that you can lean on for expertise and advice. Careful consideration also needs to go into the user app, software, or platform that will be the premise for expansion.

With these considerations at your disposal, you can start to develop the skills and applications to successfully utilise a new market.    

Createk builds software that unlocks efficiency across your business. We get under the skin of how you operate and create a bespoke solution tailored to your unique challenges. Secure, stable, and supported every step of the way. Get in touch to see how Createk can help you with your application development.

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