- France’s Evolution & Digital Transformation
- Navigating Challenges
- Harnessing the Olympic Momentum
- The Next Steps for Your Business
In digital marketing, you have to leap at every opportunity that comes your way. But this can be tricky, especially in international markets. So if you are an Irish firm craving the growth necessary to make you a big-hitter in this industry, then look no further. The French market is an opportunity for the taking with the 2024 Olympics and Paralympics rapidly approaching. Let’s look at some tips and tricks to allow your firm to grow across the European market.
“France is quickly becoming one of Europe’s fastest digitalizing countries … do not overlook this lucrative pathway”
France’s Evolution & Digital Transformation
France is not only home to the second-largest population in Europe, but the second-largest GDP figure. A wave of digital transformation has hit the French market in recent years fueled by government investment. This market is on an upward trajectory with projections indicating that spending on digital advertising will surge in 2024, with a particular focus on mobile advertising. France is quickly becoming one of Europe’s fastest digitalizing countries, so as we get closer and closer to the 2024 Olympics, do not overlook this lucrative pathway. If this doesn’t stand out as a huge opportunity for your firm, then we don’t know what will!
Image: Pedro Szekely: https://www.flickr.com/photos/43355249@N00/27029805017
- Population: 68 million
- GDP: €2.9 trillion
- Government Industry Investment: €7 billion
- Projected Digital Advertising Spend 2024: €10.9 billion
- Projected Industry Growth by 2028: 6%
Data Gathered from Statista
Navigating Challenges
Entering the French market will not always be seamless. Cultural nuances like longer sales cycles, linguistic barriers and a more formal business culture must be understood before you make your move.
The best route to market for your digital marketing firm abroad is through a commercial agent who embodies a ‘boots-on-the-ground’ approach. This will allow you to develop client relationships and leads early, while also saving cost on training and recruitment. A native French speaker is a must for this role to navigate the client search effectively.
While some strong competitors will already be operating in France, the digital marketing industry is typically made up of both large and small players who serve clients of various sizes. Because of this, there is always an opportunity for market entry as excess business can be pounced upon when the time is right (the Olympics, remember?!).
Harnessing the Olympic Momentum
With the 2024 Olympics and Paralympics on the horizon, it is crucial to capitalize on the surge in demand for digital marketing services.
Although the main events of these Olympic Games will be held in Paris, other cities across France will play host including Lille, Nantes, Nice, Bordeaux and Marseille. This is where your digital marketing firm can gain an edge. Brands both big and small will be keen to ensure they have a strong online presence to take advantage of the influx of customers travelling for the Olympic spectacle. Whether that competitive advantage is search engine optimisation or display advertising, your business can save the day!
Sectors that will be particularly focused on maximising this opportunity will be the tourism and hospitality industries, as they attempt to avail of the inflow of international customers. This excess demand will be passed on to business-to-business services, allowing your firm to gain a strong foothold in the market.
The Next Steps for Your Business
To succeed in the French market, your firm must adopt certain attributes and be as receptive to change as possible.
Tailor Your Digital Services
It is important that your firm responds to the demand in the French market appropriately by employing native speakers, providing localized content and understanding the nuanced business etiquette.
Make a Decision on Your Price-Point
Take into account factors such as industry rates of billable hours, price elasticity of demand for your services, and the levels of corporation tax in France (should you decide to set up a subsidiary company).
Form Strategic Partnerships
Make sure to employ an experienced commercial agent who can take advantage of industry networks. This will help to generate leads in the market both more quickly and more easily.
Seize Networking Opportunities
The importance of on-the-ground networking cannot be underestimated in the context of business-to-business services. Attending the most popular digital conventions in France such as the Viva Technology Conference (May) and the E-Marketing Trade Show (March) will be crucial to building connections and capitalizing on unfulfilled business opportunities. Both of these are held in Paris, of course!
But beware, navigating the French market will not be wholly straightforward, as cultural nuances and linguistic hurdles can trip up even the most seasoned digital marketers. To truly conquer the French market, it’s all about embracing the ‘je ne sais quoi’ of cultural adaptation. Employ native speakers, sprinkle your content with some French flair, and say “oui” to (digitally) crossing the Channel!