1. Don’t rely on free data sources
It’s very tempting to rely on online data to gain insight. But while the information is free, generalised online sources cannot give you the granular detail you need for your specific growth plans.
2. Know where the spending power really is
Growth opportunities are not only found in big cities. While population density is significant, what matters most is who actually has money to spend on what you’re selling.
3. Don’t waste investment: study your new customers
Who are you selling to? You might be confident about your target market in one geography. And it’s fair to say that certain insight from your success in another location may well be portable to new geographies. But you can’t assume this is the case.
4. Going global? Choose a global data expert
If you’re planning an expansion into new geographies – especially to unfamiliar cultures, or countries that speak a different language – getting hold of accurate local data can present real challenges.
5. Ensure your data is consistent and comparable
Data can offer much more meaningful insight if it is up to date and consistent.
6. Get detailed data for hidden insight and smarter planning
Areas of poverty and areas of affluence can be located very close to one another – often just a few metres apart.
7. Plan and advertise globally using consistent data
Creating and executing multinational campaigns to promote products and services to consumers around the world can be expensive and time consuming.
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WorldView from Experian
Experian WorldView is the first solution to deliver an aggregated socio-demographic dataset at a grid level of 250m by 250m consistently across multiple countries. It offers immediate access to consistent, consolidated, geographic data concerning population, age, gender, income, and expenditure plus a global segmentation. As a result, WorldView enables you to make effective decisions about your international growth strategy, from location planning to consumer marketing activities.