There is a clear indication of how international business is expanding and developing in the global market. Grant Thornton's International Business Report (IBR) found that 52% of companies are focused on international markets as part of their forward-looking strategies. Brand and visual identity have been identified as key drivers of success when a company wants to grow and develop its international business. Companies in the global market intend to use branding investment to launch international business and highlight certain segments in a highly competitive international business environment.

Developing a brand to support international business

The global market has put a very clear focus on the brand. According to IBR data, 66% of companies that express a strategic focus on international markets cited brand as a key area of ​​investment. Brand has the ability to complement and influence the creation of value that organizations achieve by investing in international business. Promoting quality was identified as the most desirable strategic outcome for companies (37%) in relation to international growth, and branding is one potential way to drive this. Companies decide to invest in branding in search of building quality relations with suppliers and customers in all their territories. Reflecting a wide range of competitive pressures, the global market tends to increase its use of foreign suppliers when expanding internationally (71%) to deliver better quality.

Competitively, small and medium-sized companies are also establishing a presence in local markets. 35% of globally focused companies are looking at international operations to gain better access to customers, but more than half (55%) of companies that plan to increase their strategic focus on international operations see competition as a major constraint. Brand investment helps differentiate mid-sized companies from local competition, creating better access to customers in international markets, while at the same time increasing the appeal of new talent.

Banking and Technology: Brand Investment

Two sectors that place great focus on brand investment are banking and technology. According to our IBR data, 70% of banking firms and 68% of technology firms are looking to invest in branding in the next 12 months – well above the global average of 54%. The banking and technology sectors also strive to prioritize increasing their brand reputation and visibility through international business. 17% of banking companies consider this one of the most important factors they monitor as a result of doing international business, ranking only behind quality and access to technology. In the technology sector, we see an even greater focus on brand reputation and visibility. 21% of companies see it as one of their top two international business objectives – just behind access to technology.

Globally, both sectors also see competition as a key constraint with figures of 62% and 54% respectively. Again, these figures are above the global average of 48%. Companies from these sectors invest in a brand to act as a differentiator in what they see as a highly competitive market. Gaining a foothold among customers and stakeholders through better reputation and brand visibility is a strong competitive advantage in international business, especially when trying to expand into new markets.

Using the brand for the strategic development of international business

Investing in branding and using it as the foundation of a cohesive international marketing plan is becoming a key focus for companies that want to strategically develop their international business. Companies use brand as a differentiator when entering competitive markets and prioritize increasing reputation and visibility through their global business initiatives. Behind international intentions is real business energy and motivation, as well as the need for companies to stand out in their markets. From sector to sector we see how companies approach it. Branding has emerged as one direction of marketing, but it is not the only way to stand out. As the market continues to have a global focus driven by global ambitions, more ways to gain competitive advantage will emerge, with brand being one of the more desirable options in the current climate.

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