Meta has released a new report to help guide Australian businesses wanting to expand internationally, with the help of technology, and AI in particular.
The Breaking Into New Markets: A Guide For Going Global report contains insights from Australian businesses that have successfully expanded overseas. Readers will learn how Canva, Princess Polly, Oodie and HiSmile tapped into social media as part of their strategy to break into new markets.
The report is broken into four key themes, including:
- How businesses can break into bigger markets, like the US
- How AI is helping businesses reach new customers
- Creators as ‘cultural carriers’ in new markets
- ‘Test before you invest’ mentality
Meta’s investment in AI can help fuel borderless ecommerce by putting valuable tools into the hands of Australian businesses going global.
Cross-border ecommerce sales now account for approximately AU$18 billion, making up 29% of e-commerce transactions in Australia. Today, cross-border e-commerce is growing twice as fast as domestic. Its value is expected to reach $3.3 trillion by 2028.
Meta Australia and New Zealand director of e-commerce, Henry Kelly said, “The rise of AI is ushering in a new era of cross-border experiences from viral trends captivating global audiences to real-time translation across text and speech helping people connect. This technology can also help people discover relevant products and services, whether they are around the corner or across the globe.
“When you consider almost 48% of shoppers made international purchases in a surveyed six-month window and 71% are open to discovering new brands, Australian businesses need to be more proactive with international expansion.
“One major discussion point for Australian businesses is how to get started, effectively and efficiently. The goal of this publication is to share wins and learnings that other businesses faced as they expanded internationally on Meta technologies.
“We interviewed marketers and owners from businesses as diverse as Canva, Quad Lock, Princess Polly, The Oodie, Boody and Culture Kings, as well as marketing agencies such as Growth Huntr and Right Hook Digital, to understand how they started, and what challenges they face as they become increasingly global. Each one has taken a different path, but one thing they did have in common was their use of Meta technologies to help overcome these obstacles.
“We believe that our investment in AI can help fuel borderless ecommerce, by putting valuable tools into the hands of Australian businesses going global.”
A Meta spokesperson added, “These success stories show just how powerful AI-driven platforms like Meta’s Advantage+ can be. Businesses using Advantage+ shopping campaigns have seen a 32% increase in return on ad spend and a 17% improvement in cost per conversion. This technology is changing the way new brands and products are discovered around the world.”
To make this resource accessible for Australian businesses aiming to expand internationally, the whitepaper includes a checklist for performance best practices:
- Ensure your business is following the media best practices of Performance 5 to unlock cross-border opportunities.
- Leverage AI-enabled solutions like Advantage+ shopping campaigns to help fuel discovery by matching products with new customers.
- Set up a checkout enabled shop (for sales in the US only) and consider combining Shop ads and Advantage+ shopping campaigns to extend discoverability and shorten the path to purchase.
- Understand and build your brand equity to accelerate performance and set up your business for long-term growth and resilience.
- Drive cultural cut-through with local creators and use creator marketplace to discover and explore potential collaborations. Consider extending the reach of content with partnership ads.
- Measure your cross-border acceleration with a robust measurement strategy. A test and learn approach is a quick way to determine which tactics drive the best performance outcomes.
- Utilise our network of Meta Business Partners and suggested global expansion partners for help with seamless shopping experiences for customers, from creative concepts and production to shipping, pricing and payments.