How To Prepare Your SaaS Business To Go Global

Today, many SaaS businesses target global reach and they opt for different avenues depending upon their business niche. If you are also working on a concrete plan to enter the global subscription business market, then this article is going to be an interesting one for you.

There are some valid factors that play a key role in helping you to access international customers and they include:

Currency difference
Payment methods
Cloud-based billing and invoicing software
Customer preferences
Tax regulations

unequivocally, when you enter the global subscription market, you need to price your services and products as per the region where you are entering. You will have to offer customers the payment methods that they find convenient. A cloud-based subscription billing and invoicing software enable you to access the system from anywhere. Consideration of customer preferences helps you increase customer retention rate. And tax regulations change from state to state and region to region.

Considering these factors we, the SubscriptionFlow experts, are here to help you devise a strategy so effectively that you can enter the international subscription business market. However, the first thing that you need to be clear about is that reaching out to the international market is no more a dream that cannot be materialized. It is possible and many are living this dream.

Also Read: 10 Core Reasons Subscription Model is Taking Over the Vertical Market & Here’s What You Can Do To Adapt the Latest Change For A Thriving Business In Future

Launch Internationally from Day One

The first way is to start your business in the international market. And today, it is a feasible option because SaaS companies can adopt the best billing and invoicing software in 2021. These systems play a significant role in improving your reach to the international market.

You have to understand that the population of the US is not even the 5% of the population of the world. This means more than 95% population lives beyond the borders of the US and there is a huge opportunity to expand the business if you succeed in finding the customers out there who need your SaaS product or services.

When it comes to marketing the SaaS product and services, then harness the power of the digital marketing that has erased the constraints of borderlines. There are automated tools to boost your marketing efforts, for instance, HubSpot integrations can help you manage the subscriptions for your product side by side market it to the targeted customers. HubSpot integrations even increase the overall scalability of the automated system so, you automatically get the chance to upsell your SaaS services and product in the future.

Also Read: Uncovering The Facts About Subscription Ecosystem To Find The Best Entry Point For Entrepreneurs

Going from Local to Global Market

Starting from the local market then taking it internationally is another convenient option. Here, the SaaS companies get experience and enough confidence from their initial success in the local market. They also earn recurring revenue that gives them the courage to test their luck in the international competitive arena.

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Just like accessing the international customers, when you have a stronghold in the local market, another option is to open up the headquarters of your SaaS company in another country. For example, Salesforce shifted its headquarters to Tokyo from where it started operating internationally. However, this decision has its own risks. The prerequisite to shifting headquarters is to find if the market that you are targeting beyond borders is that profitable that you can earn as much as you have estimated.

Business Acquisition

The strategy of acquiring another business in another region is viable for established SaaS companies. Because one needs money to acquire another business. For example, Workday acquired Cape Clear and expanded its reach. Now, they are successfully catering to customers in another region. Acquiring a business in another region simply reduces the entry barriers into another market.

The company that you acquire in another state or a country has its reputation and an existing customer base that you can use to earn revenue for your SaaS company. When a company is acquired, its brand recognition is also acquired that benefits in many respects.

Business Partnerships

Business partnerships are another effective means of expanding reach to the international market. For example, Samsung became the entertainment partner of Netflix. And Netflix’ reach was expanded to the South Korean region. It was a huge step because 60% of the world population lives in the Asian region. And the partnership with an electronics manufacturing brand definitely gave an instant hike to the customer base of Netflix.

Partnerships also improve the brand profile. The partnerships add to your market power by increasing your market share. Recently, the coronavirus affected businesses across the world. However, partnerships enable you to face and survive such economic bumps. Partnerships also bring you in close contact with field experts in other regions of the world that increase your human resource specialities.

Also Read: Collaborations And Partnerships—A Winning Formula For Your Subscription Business

Remote Business Operations

There are many SaaS businesses following the strategy to locate the business in the home country and target customers in different regions of the world. A very effective approach to opt for this strategy is to find field specialists from across the world and bring them on board to help you in catering to international customers. Outsourcing has become a norm in the digital world.

India and China are considered the best regions to outsource from. Why? Consider India, it is the country where a huge English-speaking population lives and they have excelled in software development services. Moreover, the rates offered in India and China are far less than what UK and US outsourcing would cost.

How SubscriptionFlow-HubSpot Integration Helps You Target the International Market

Whether you cater to customers locally or internationally, you need to pay attention to marketing and HubSpot is one of the most reliable tools in this regard. When you have to reach the international market, the sales pitch that you use in the US doesn’t need to be suitable for another region. So, HubSpot integrated with SubscriptionFlow is a complete business solution for SaaS companies that want to access international customers and market their services and products aptly.

SubscriptionFLow integrates with the complete HubSpot stack, thusly, facilitating the marketing, sales, and customer relation activities. From lead generation, in the international business market, to customer satisfaction, you can manage everything for the integration provides you with detailed reports regarding your customer engagement. HubSpot is not only a robust tool for inbound marketing but also helps in segmenting customers. Thereby, assisting the activity of customer targeting activity abroad.

Also Read: How To Turn Your Subscription Business Into A Brand Through Email Marketing

You can discuss your business strategy to enter the global SaaS subscription market with SubsriptionFlow experts. And to manage your business adopt the best online billing software—SubscriptionFlow.