The Federal Trade Commission (FTC) is currently investigating all non-reportable acquisitions by Alphabet (including Google), Amazon, Apple, Facebook and Microsoft over the past decade (from January 1, 2010, to December 31 2019), according to a statement from the agency.

The top five tech firms were chosen by the FTC as part of the review to delve deeper into some of the transactions that were not reported to the agency. It is believed that there is no minimum threshold for transaction prices in review.

Under the Hart–Scott–Rodino Antitrust Improvements Act (HSR), companies are not required to report some acquisitions to the FTC or the Department of Justice. However, since the five companies in question are amongst the largest in the US economy, this comes as a bit of a surprise. 

According to an article from Marketing Dive, FTC chairman Joe Simons explained during a conference call that the reason behind the investigation was to know why some of the transactions by these firms were not reported and whether they were “problematic” initially. The agency is expected to review hundreds of transactions, according to the agency.

The investigation itself will be broad, including reviewing data obtained, licensing and the ability of a business to approach or make an appointment on another organisation’s board. There’s been no deadline set as to how long the investigation will last but according to Simons, the process will “move very quickly”.

“Digital technology companies are a big part of the economy and our daily lives,” commented Simons; “This initiative will enable the Commission to take a closer look at acquisitions in this important sector, and also to evaluate whether the federal agencies are getting adequate notice of transactions that might harm competition. This will help us continue to keep tech markets open and competitive, for the benefit of consumers.”

The post FTC Investigating Acquisitions by Tech Giants Google, Amazon and More appeared first on PerformanceIN.

The PerformanceIN team is proud to introduce PI LIVE Advanced — a one-day event in New York on May 19 — aimed exclusively at e-commerce-led retailers and brands seeking to challenge and further enhance their performance marketing strategy around the globe.

Build profitable partnerships

We’ve conducted significant research and you’ve told us you’re tired with the noise of traffic brokerage, black-hat affiliates using smoke and mirror techniques and chaotic meet markets that you’ve become accustomed to over the years.

That’s why we are founding the conference on three key principles ‘hyper-relevant to you, advanced brand-led content and connections that count’ – under the umbrella of the mission of helping you ‘Build Profitable Partnerships’.

“We are delighted to be launching a Performance Marketing Conference designed exclusively for e-commerce-ed Retailers – The rules of e-commerce continue to evolve within performance marketing, there is much to debate, learn and discuss!” said Matthew Wood, founder of PerformanceIN.

Connections that count

The Manhattan-based conference will bring together the connections that count under one roof that can revitalise and drive performance marketing for your business all whilst keeping costs down and profits up!

Through a combination of techniques from technology integration and smart programme management, delegates will walk away with several strategies that can either be instantly adopted or integrated over time to optimize return on investment.

Backed by the performance marketing industry

At launch, PI LIVE Advanced is honoured to welcome five leading premium partners who are driving the performance marketing industry forward to the New York event, with CJ Affiliate, Honey, Impact, Partnerize and Rakuten Marketing taking prime position.

“We are very excited to be a part of the inaugural PI LIVE Advanced conference in New York, said Jim Nichols, CMO of Partnerize; “PI LIVE has been an industry-leading event in London for years, and with American and global brands investing more heavily in e-commerce channels than ever before, a New York event is fantastic opportunity for both our friends at PerformanceIN and the entire marketing community.”

“The US market will benefit from the addition of PI LIVE Advanced to our affiliate industry as a way to connect and learn about the future of our space”, commented Lissette Alvarez, senior director of partnerships at Piggy.

“PI LIVE is a high-caliber event and we’re excited for the launch of a North American, affiliate-specific event of this quality,” said Nicole Ron, VP marketing and business system at CJ Affiliate.

“PI LIVE is a phenomenal event that we’ve been proud to sponsor in London over the last few years. The team is top-notch, the curriculum is cutting edge and the level of attendees will make the conference in New York a don’t-miss event,” said Chris Arreguin, general manager, SVP of revenue at Honey.

“PI LIVE has been one of the must-attend events in the performance marketing calendar in Europe and we are delighted that it is now arriving in New York City. PI LIVE is a unique event with interactive sessions, leading industry speakers and extensive networking opportunities both through the latest in-app meeting tech but also during the event. Impact has been a strong supporter of PI LIVE for the last 5 years and we are excited to be partnering with the event in the US in May 2020 as a keynote speaker and Platinum Sponsor,” commented Cristy Garcia, director of global marketing programs and PR at Impact.

“Rakuten Marketing is excited to support the launch of PI Live Advanced in North America. As a proud partner of PerformanceIN over the years, we are excited for marketers to experience this event in the US,” said Nicole Pace, VP of Marketing, North America at Rakuten Marketing.

Register your interest

Stands and remaining sponsorships are now on sale and tickets will be strictly limited and available to purchase during February.

In addition, we’re excited to announce the Influencer Marketing Show NYC which will run at the same venue on May 20, a one-day conference designed for brands to ensure they navigate their way through the planning, execution and measurement of smart influencer marketing campaigns.

Signing up to the newsletter and be first to hear when tickets are released.

The post Connections that Count — Introducing PI LIVE Advanced appeared first on PerformanceIN.

Having successfully global account managed clients in several international markets as well as supported growth, Optimus Performance Marketing is due to expand its award-winning team into the US and CA markets.

As part of the expansion, the performance marketing agency has announced the appointment of Julia Yum as EVP, North America Operations, bringing with her vast experience in digital performance media having lead partner marketing practices across North America.

In addition, Mark Russell (pictured) will take up the role of Global CEO for the business working with Julia to oversee the US and CA growth. Mark will also work with co-founder Bruce Clayton who will take on the role of director of EMEA working with Andy Notman, operations director on the growth and maintenance of the UK and EU business. 

”I’m thrilled to be joining Optimus and working with Mark and team to expand the practice into the North American market.  With all of Optimus’ success over the past 14 years, it’s an exciting opportunity to collaborate with a high achieving, strong and successful team well versed in this area of expertise,” said Julia on her appointment.

“It is great to see the team continue to expand. Moving the business into the US and CA markets with Julia joining the team is a massive step for the business and we look forward to building many partnerships in the North American market. Julia has a great agency pedigree and I am looking forward to working with her to grow the North American business,” commented Mark.

Founded in 2006, Optimus Performance Marketing has provided expert affiliate management services, driving affiliate revenues for our clients via a range of account management solutions. 

Continuing their international growth and credentials, Optimus is shortlisted for Best Retail Campaign at next week’s sold-out International Performance Marketing Awards which takes at the De Vere Grand Connaught Rooms in London.

The post Optimus to Expand into US and CA Markets appeared first on PerformanceIN.

Dentsu Aegis Network has announced the acquisition of direct-to-consumer performance agency MuteSix. Financial terms of the deal were not disclosed.

The latest merger supports Dentsu Aegis Network’s continued growth strategy for the US. Additionally, it extends iProspect’s suite of performance marketing solutions for both enterprise and direct-to-consumer marketers.

Going forward, MuteSix will now be known as “MuteSix, an iProspect Company”.

“DTC advertisers are born from performance, building their brands online through smart targeting, engaging creative and seamless customer experiences, and MuteSix is the leading solutions provider for this hyper-growth category,” said Jeremy Cornfeldt, CEO at iProspect US. 

“With their expertise in this unique segment of the market, combined with our deep experience working with larger portfolio enterprise companies and global performance marketers, we now offer a full suite of performance marketing solutions for clients at every stage of their growth.”

Based in Los Angeles, MuteSix was founded in 2015 by Steve Weiss and Daniel Rutberg. By marrying high-quality creative with extensive knowledge of digital performance and social ad platforms, the agency has differentiated itself and today is one of Facebook’s largest direct response advertisers. The company provides scalable marketing solutions for clients across a broad spectrum of start-ups, established blue chips, and challenger brands across various B2B and B2C industries. 

MuteSix was recently named to the Inc. 5000 as one of the fastest-growing private companies in America, home to 120 talented employees.

As part of the changes, MuteSix CEO Steve Weiss and President Daniel Rutberg will continue to lead the performance agency and will report directly to Jeremy Cornfeldt.

“iProspect is one of the top performance marketing agencies in the world and a proven leader when it comes to innovation in the industry. We truly have the same DNA,” said Weiss; “Together with iProspect, MuteSix is able to service the best direct-to-consumer brands on a global scale, extending our capabilities and offerings to provide solutions to clients beyond Facebook and Google.”

The post Dentsu Aegis Network Acquires Performance Agency MuteSix appeared first on PerformanceIN.

Affiliate marketing is on the move. In the US affiliate spend will rise to $6.8 billion in 2020 and in the UK it grew 6.2% in 2018. It is closely connected to the expansion of e-commerce: In markets where more and more retail sales happen online, affiliate advances. 

And from my experience – launching a network in APAC, leading publisher and advertiser-facing teams in the US and in EMEA, I’m aware that affiliate behaviours differ radically between markets. Across commerce strategy, the role data plays in shaping that strategy, and how publishers work with merchants approaches vary. 

If you look at how publishers use affiliate, commerce strategy is the first place you’ll see behaviours differ across markets. 

Where the US leads, the UK and Europe follow 

The US is the most mature affiliate market, which means their commerce strategy is likely the most advanced. Publishers can derive significant value from affiliate – the largest drive 25% of revenue from commerce – because they’ve invested in the channel and really see the value. 

It is a key part of the revenue mix for publishers in the US, with large dedicated teams of commerce editors and is so important that in certain cases publishers have launched dedicated commerce brands. These publishers exist purely to create commerce content monetised by affiliate marketing that can drive sales to retailers in high volumes. Editorial brands like New York Magazine’s The Strategist have only come into existence because of the maturity of the affiliate channel and appetite of publishers’ audience to buy products they read about in articles written by expert editors. 

UK commerce strategy is different. In terms of online share of retail sales, the UK is the world’s most advanced e-commerce market (16% of sales happen online), but there are fewer publishers and their commerce strategies are less evolved than their American counterparts. Affiliate is not so advanced that there are dedicated commerce brands for example. 

But the UK market being smaller does mean brands can afford to be more experimental and face less competition. For example, several large UK publishers have extensive native commerce operations that they run alongside affiliate efforts: Dennis Publishing, for example, was projected to drive 40% of revenue from car sales from the automotive websites they own. 

There are also publishers like Trinity Mirror that syndicate content from central teams right across local titles, using localization – focusing on local ticketed events for example – to drive results. 

Look at Europe and the picture is fragmented. That’s closely related to how advanced e-commerce is in each region. Where people buy less online, appetite for affiliate marketing is lower because there are fewer opportunities for publishers’ to monetise commerce content using it. 

In Western Europe – which is responsible for almost 70% of European e-commerce spend – publishers are focusing more and more on commerce strategy, especially in the past eighteen months. In France for example, newspaper Le Monde has started syndicating commerce content from The Wirecutter, and across different European markets, publishing houses like Conde Nast and Hearst have begun to roll out affiliate links on international titles. In those cases, publishing houses take learnings from US teams and apply them to scale in European markets. 

Differences over data 

Some markets are more data-driven than others too.

The US has a real evolved approach to affiliate, with a subset of metrics that publishers and advertisers use to make decisions. Typically US publishers use two metrics to figure out what content to create and who to write about: revenue per article (RPA) and earnings-per-click (EPC). It is how teams understand what can drive real value for their businesses and what will resonate best with readers. 

Likewise, advertisers take a similarly data-driven approach to figure out the cost-per-action (CPA) or cost-per-click (CPC) they offer to publishers. They aren’t only concerned with the content a publisher creates, but the platforms they publish on, the volume of new or repeat customers a publisher can drive, and whether their products appear in timely or timeless evergreen content. They have developed granular attribution models to understand the ROI they take from affiliate. 

The same metrics are in place in the UK, but across Europe, things are not as advanced. The lack of data to drive affiliate in these markets can explain why international publishing houses are more successfully pushing commerce. They can use data from more advanced markets to expand at regional titles. 

Increasing focus on revenue diversification 

The other major difference when we think about how publishers use affiliate is the way they think about merchants. 

In the US, data is a key decision-maker. The RPA and EPC they can drive from a particular merchant is a key factor in figuring out who they should write about. Publishers know the topics their readers care about, from there they apply the e-commerce metrics to understand the brands that will resonate best with their readers’ and drive the most commerce revenue. 

American publishers are also really focused on the need for a diverse portfolio of merchants. The original driver of affiliate growth in the US was Amazon and it continues to play an important role in publishers’ commerce strategies. However many are now wary of being too dependent on a single retailer and aware that they can offer a better experience to publishers when they write about a broader mix of merchants. Writing about many different merchants offers readers more choice and creates more opportunities for conversions: Articles that feature more than one product drive over 130% more revenue than single product articles. 

The key differentiator across regions in affiliate behaviours is maturity. American publishers are really strategic in the way they harness affiliate marketing to generate vast commerce revenues. The UK is on the right track, with the smaller size of the market lending itself to experimentation which can drive impressive results. While Europe is further behind, the past eighteen months have seen real progress, and we can expect they will start to imitate the behaviour in the US and the UK as e-commerce expands and more publishers begin to leverage affiliates to capitalise on commerce as a revenue stream. 

The post How Do Affiliate Behaviours Differ in Different Regions (US vs UK vs Europe) appeared first on PerformanceIN.

Global online gaming firm Kindred Group has launched a new US-focused affiliate program powered by Paysafe Group’s Income Access software. The new program will support player acquisition for Kindred Group’s recently launched Unibet brand in New Jersey, its first foray into the regulated US iGaming market.

Launched earlier this month, Unibet is dedicated to offering New Jersey-based players a gaming experience like no other, incorporating a wide range of real money slots and table games from leading industry providers. Players will also have access to exciting promotions and a range of safe and secure payment methods.

The new US-specific affiliate program on the Income Access platform will offer Unibet and its affiliates the benefit of a robust and dynamic tracking software with in-depth reporting, flexible commission schemes and an extensive ad serving functionality. Affiliates can monitor and optimise their digital marketing campaigns for effective results, using actionable data.

Similarly, the Kindred Affiliates team and its marketing partners will benefit from Income Access’ enhanced security and fraud verification functionality.

The Income Access partnership follows Paysafe’s own payment processing agreement with Kindred Group, which has seen the provider extend its processing services to the Unibet brand.

“Income Access has a strong presence in the US gaming space and understands the intricacies of navigating this complex market. Partnering with the company will allow Kindred Group to leverage those benefits as well as tap into its network of affiliates to help expand our business in the US,” said Ryan Henderson, head of affiliates at Kindred Group.

“We are delighted to partner with a firm that possesses the industry experience and reputation of Kindred Group, further strengthening our position in the US online gaming and sports-betting market. The launch of Unibet in the US also offers affiliates an exciting brand with which to partner and bolster their presence in an expanding market,” commented Tara Wilson, general manager at Paysafe’s Income Access.

This year’s International Performance Marketing Awards features eight new categories, including Best Sports Betting & Gaming Campaign. If you have a worthy campaign in this area, download the entry kit and submit your work for a chance to win this award.

The post Kindred Group Launches US-Specific Affiliate Program with Income Access appeared first on PerformanceIN.

Tell us about winning an International Performance Marketing Award?

Sean Sewell: When our company was recognised for the 2018/19 Performance Marketing Technology of the Year, there was a buzz across our offices that is really hard to describe. For our team, it was recognition of the tremendous work that had been done to transform our offering and develop industry-leading features that were recognised as game-changers. The IPMAs represent some of the most important recognition in our industry, and our wins reinforce our commitment to being the best.

Where does the value lie in winning Best Performance Marketing Technology?

SS: I think it’s three-fold. First, it helps galvanise the team because it shows that every individual’s hard work has helped us achieve something unique and very special. Second, it raises the bar for every team member to continue to deliver outstanding work that helps our clients get better results day after day. And third, it gave dozens of companies a reason to consider switching to Partnerize because we offer something better. We can say we’re the best all we want, but there is just no substitute for industry validation.

Has anything changed for your company since winning the award?

SS: Our win was the result of a remarkable year of product development and team commitment. I think it has also made everyone anxious to do even better so we can win again. The competition in this industry is quite fierce, and winning takes that sort of extraordinary commitment. Our people are achieving more than ever.

We’re always excited when the IPMAs come around because they invariably inspire other companies to understand how they can do better. We view every client engagement as a journey where we learn together what works for each business and then apply those learnings for future results. The IPMA show always seems to stimulate brand leaders to rethink what they are doing so they can deliver better performance in the future.

In your opinion, what kind of attributes stand out in succeeding in such regions including, US, APAC, LATAM, and MENA?

SS: The partnerships industry is at different stages in various regions around the world. This demands a versatile and flexible solution that is just as good at getting people early results as it is at powering incremental growth from mature programs. At Partnerize we also believe that in-region customer and strategic support are critical. No one in one market should have to wait for hours or a day for help because their provider supports the world from just one or two locales. In-region support also means that clients get to work with local market experts. People who know the landscape, understand the partners that matter most and can help develop and deliver programs that drive extraordinary results domestically and internationally.

In almost every case, award-winning results come from rich strategic insights and planning. That’s true in markets like the US that have had active partnership sectors for decades, and in certain markets that are in their partnerships infancy. It provides ample proof that strategy and data-driven insights are the paths to growth everywhere.  

What’s your take on the IPMAs as a vital aspect of driving the industry forward on a global scale?  

SS: The IPMAs and their impartial judges help us all understand what matters most now, and will matter in the future. There is no richer market feedback than the perspective of people who are focused on results. It also points to how outstanding work is taking place in every region on earth, and that we can all learn and recognise the great results of companies in our own countries and beyond.

If you think you have what it takes to win an International Performance Marketing Award? Download the entry kit today.

The post IPMA Q&A: Partnerize on Winning Best Performance Marketing Technology appeared first on PerformanceIN.

With 92% of Americans always looking for a deal, it’s no secret that US consumers like to save money. However, research and industry experience shows that simply lowering the everyday price of your products isn’t enough to keep today’s smart shopper happy. They expect more. They want to feel like they have discovered the best deal, especially if they perceive that they obtained a discount which isn’t readily available to other consumers. This is, of course, where nuanced coupon strategies come in very handy. But first, let’s look at the internal factors at play.

Coupons and the cuddle chemical

Those who have heard of oxytocin are more likely to associate it with significant life events such as the birth of a child or getting married. The hormone, sometimes called the cuddle chemical, is released in everyday situations such as when we share hugs and kisses with those we love, and during moments of social bonding.  However, research from neuroeconomics expert, Professor Paul J. Zak highlights that the love hormone is also present when smart shoppers receive a coupon. His study found that participants who received a coupon experienced a significant boost (38%) in oxytocin levels. In addition, they were found to be happier (11%) than participants who didn’t receive the offer.

Even though consumers expect to find a coupon nowadays, this effect continues to come into play. Interestingly, the level of the cuddle chemical also rises when users receive likes and comments on social media platforms such as Instagram.

Price, brand and self-image

Research from the Association for Consumer Research suggests that ‘smart-shopper feelings’, which can result in excitement, self-confidence, satisfaction are highly likely to increase and intensify when the consumer feels a sense of control in the process of obtaining a discount. 

A number of studies have found that consumers experience increased satisfaction when they receive a discount of 15%, for example, in cases where they felt responsible for having found the deal themselves rather than getting the same offer as a result of pure luck, or another factor that is out of their hands. Finding the best deal can elicit a number of responses in shoppers. For example, they could feel ‘proud, smart or confident’ (Holbrook et al. 1984), Or there might even be a feeling of playing the system, which can be quite thrilling for consumers. So we can see that, that the perception of paying a lower price can have a positive impact on the way we view ourselves. When we combine this insight with what we already know about millennials and their shopping habits, this creates an incredibly fruitful opportunity for advertisers. 

As well as making purchases that are informed by an expression of their personalities, millennials are also open to trying new brands. While previous generations may be seen as creatures of habit, coupons further encourage millennials to try new products and experience new things.

Consumers want more than everyday low prices

While common sense suggests that shoppers prefer regularly low priced goods, real-life examples tell a different story.  When the now former JCPenney CEO, Ron Johnson, took the helm in 2011 he decided to simplify the company’s pricing structure. However, introducing an easy-to-understand everyday low price strategy didn’t have the results Johnson had hoped for. Just a year later, J.C. Penney saw its sales slashed by 25% and experienced a $1 billion dollar loss. Not only did this strategy fail to win over new customers, but it also turned off JCPenney’s existing customer base. Shoppers want the thrill-of-the-chase feeling that they get from finding the best deals through coupons, with a more static approach to pricing this excitement simply ceases to exist. This highlights what we know from industry research: as well as attracting new customers, coupons keep them coming back. 

As an aside, it hasn’t been all doom and gloom for Johnson. According to a recent article, he’s now one of the most well regarded retail analysts in the US. 

What this means for advertisers

Getting a good deal is about more than cost-savings for customers. As I have previously discussed, coupons are proven to add value for advertisers in a number of ways. Carefully targeted coupon strategies make a positive impact on smart shopper behaviour. They encourage savvy consumers to buy in larger quantities and from brands that might not ordinarily be on their radar. Coupons enable shoppers to experience new things and try new products, which presents the opportunity for advertisers to gain incremental sales. We also know that shoppers who are introduced to a brand through a coupon are more likely to be return customers and develop brand loyalty.

All of this adds up to brands having new opportunities to reach new customers while helping shoppers get the best deal and feel a little bit happier in the process. Everybody wins.

Do you have an exciting performance marketing campaign in the US region that should be recognised on a global scale? Download the entry kit today and enter for a chance of winning an International Performance Marketing Award.

The post The Real Reason(s) Why US Smart Shoppers Love Coupons appeared first on PerformanceIN.

Bank holding company Capital One has acquired Jewel Commerce LLC, a Detroit-based luxury cashback site, just two years after it launched. Jewel’s mission is to help consumers find and discover their favourite luxury brands while also helping them earn cash back at the same time. By joining Capital One, Jewel will be able to bring savings and discovery to the luxury loyalty space and further enhance their offerings. Purchasing through the website can earn users cash rebates from 2% to 35%.

Capital One is developing a set of tools that helps customers make smarter financial decisions, and the acquisition is part of a way to add to that. The terms of the transaction were not disclosed.

“Capital One and Jewel have a shared goal of providing simple, straightforward digital tools that can help consumers effortlessly save time and money,” said Walt Roloson, vice president at Capital One Financial.

“We are deeply appreciative of the support from our customers, merchants, investors and community partners and are looking forward to growing with these relationships in our next chapter,” said Andrew Landau, co-founder and CEO of Jewel.

Jewel’s headquarters will remain in Detroit, with plans to employ additional staff this year.

The post Capital One Acquires Luxury Cashback Site Jewel appeared first on PerformanceIN.

Last year, over $517 billion USD was spent online in the States, representing a 15% increase from the previous year, according to recent figures. There are clear opportunities for the performance marketing industry, especially for players with new and innovative approaches. However, starting out in a new territory isn’t often straightforward. While it is incredibly important to have a solid strategy, it’s also important to be flexible enough to deal with the inevitable bumps in the road. Here I share our key learnings from the perspective of an established business that launched in five new markets in the last twelve months, one of those being the US.

Building relationships 

When entering a new market or launching a new business, existing relationships can be an enormous help to get your company known in the industry on a local level, gain essential insights and establish new relationships with key stakeholders. In the beginning, other players may not be familiar with your business so referrals are the key to start gaining trust.  

As someone who has launched our projects in two new markets, I have seen that first hand that building and maintaining relationships is key. In the performance marketing industry, it is not uncommon for contacts to leave one company and join another working in a similar niche. Maintain your relationships because they can make a difference. Additionally, having a proven reputation in Europe and long-term relationships with global advertisers have also helped us establish collaborations in the US. You could also consider using your contacts to uncover market insights that may not be otherwise readily available. 

However, leveraging existing contacts may not always be an option for your business and you will need to develop new relationships. It’s essential that you know your value proposition and how your business would benefit a potential partner. You will need to be able to demonstrate these benefits in your communication and use a customised approach with each potential partner. As an example, our diverse portfolio of projects with media companies helps us to offer a tailored service to each brand. 

It’s important to pay special attention to the ways that customs may differ and adapt your approach to your new context. For example, in some markets partner meetings may be more casual and take place over drinks in a pub, whereas in the US, while face-to-face meetings may also take place over dinner and drinks, they are often slightly more formal than in the UK.

Finding the right people for your team

Building a high-performance team is pivotal to the success of any business. However, when starting from scratch, it is paramount to find the right people with the skills and mindset. They will be essential to delivering the very best results for your partners. It’s important to make the most of internal expertise where possible. In my case, I had already launched Savings United projects in the UK, from a content perspective, and achieved market-leading results. So I have the know-how to do the same for our projects in the US.

Consider hiring employees located in relevant regions, even if you don’t yet have established office locations in the new market. This can be accomplished by hiring remote employees. Studies have shown that employing remote workers can increase productivity, plus it is particularly important for your partner-facing team members to be located near your partners for in-person meetings. As someone who works with a team across 3 different time zones, I can speak from personal experience that remote employees tend to be just as productive as their office-based counterparts. It is also crucial to ensure you have team members in specific time zones so that partner requests can be managed efficiently and in a timely manner.

Making new hires in a new region can be tricky. Use your existing contacts to connect with potential candidates. In cases where this isn’t a readily available option, you could consider using employee referrals. With our team members coming from all over the world, we have received recommendations for potential new hires in the regions. This type of referral can be invaluable since a current employee is only likely to suggest someone who is talented and who they think would fit into the culture of your organisation.

Develop a nuanced understanding of the market

Each market is different and shopping behaviours can vary by region and country. What has worked for you in one market may not work in another. It is critical to have team members situated in your local market who understand consumers, trends and the partners you will be working with. In addition, you should take advantage of the content created and shared by thought leaders in your niche, including white papers and case studies, and attend industry conferences to deepen your knowledge of the sector. This will allow you to not only network with current and potential partners but also attend sessions and panels from experts in the space.

Use the right terminology

Even in markets where the official language is the same, such as the UK and the US, there are still likely to be variations in the preferred terms used by consumers and in business. So for example, while voucher code is the most commonly used term in the UK, coupon is the preferred term stateside. It’s important to tailor the way you describe and talk about your offering in order to cater to local variations and attract local business.

Going into a new market is an incredibly exciting period for any company. Although preparation is key, you will need to be ready to respond and quickly adapt to any unexpected events that may pose a challenge to your success. Your team is your most valuable asset. Choose your people wisely and support them while giving them autonomy so that they take responsibility for their work and decisions. Also, put in the background work to understand new customers and focus on their needs. Your unique proposition will make you stand out.

The post Going Stateside: Top Tips for Entering a New Market appeared first on PerformanceIN.