- by admin
- Posted in Internationalization
- March 23, 2015
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Entrepreneurs and marketing managers have to understand that the company’s use of Web 2.0, especially ecommerce and crowdfunding will help to pass the barriers of contact customers in foreign markets and the lack of financial resources; it will also provide a cost-effective solution of accessing global markets information (Berry and Brock, 2004) and extending the business network, thereby improving the company’s knowledge base, international awareness (increase the brand value recognition), reputation and opportunity horizon.
According to Berry and Brock (2004) and Bell and Loane (2010) entrepreneurs and marketing experts should be aware that, when they are moving to more complex uses of Web 2.0 applications, internal resources are needed to support its implementation and future operations. Thus, it is critical to develop Internet skills inside the company to increase the existing competitive advantage in relation to its product.
However, they should understand that the use alone of the Web 2.0 applications mentioned before is unlikely to be sufficient and helpful for internationalization. Research shows that all Web 2.0 applications presented in this article – (Facebook Brand Page (Social Media); Ecommerce (Ebay, Etsy, regiconia.com); Crowdfunding (Kickstarter); Crowdsourcing (Amazon Mechanical Turk, Atizo) – were considered to be important for internationalization. Thus, complementary exploitation between different applications is likely to provide an optimal internationalization path for SMEs.
By using Web 2.0 for developing international strategies, classical SMEs can avoid extinction or to be swallowed by large companies. In order to exist, these companies need to adapt and to use the advantages of Web 2.0. Strategies provided by Web 2.0, in order to be productive and sustainable, have to be developed according to the specific needs of a company.
The usage of those applications could be extended for different areas, such as knowledge management, collaboration and communication, customer relationship or innovation (trend exploration).
Companies in general have to start to understand not only the changing preferences and habits of the online customer today, but also developing their sales, marketing, service, and support strategies in order to effectively reach and retain this audience in the long term (Eastwood, 2007).
- Bell, J., Loane, S. (2010). ‘New-wave’ global firms: Web 2.0 and SME internationalisation. Journal of Marketing Management, 26(3-4), 213-229.
- Berry, M.M.J., Brock, J.K.-U. (2004). Marketspace and the internationalization process of the small firm. Journal of International Entrepreneurship, 2(3), 187–216.
- Eastwood, G. (2007). Future Online Strategies and Technologies. Creating value, improving communications and driving online business in the verticals. Scrip Business Insights.