How to Write an Effective International Market Research Report

Writing an international market research report is often an enormous undertaking for companies, but it’s also a beneficial and valuable exercise when done right. If you’re considering launching your brand or a product in a new, overseas market, a comprehensive and accurate market research report is essential.

Creating an effective international market research report requires skill and knowledge, and it’s easy to get wrong. In this article, we’ll dive into what an international market research report is, why you might need one, and how to go about writing one.

What is an international market research report?

An international market research report is an in-depth exploration of a new market, collecting as much information as possible and sharing it within the company. There are lots of reasons to write one, such as:

Inform new market entry efforts, allowing your team to launch your brand in a new foreign market armed with all the information and context necessary to avoid any setbacks and maximize their chances of success

Provide the data and insights needed to fuel new marketing campaigns (which will often require a very different approach to marketing in your home country)

Allow you to launch specific ranges of products in overseas markets most successfully and efficiently as possible.

Why is an international market research report important?

Anyone who has ever tried to launch their brand in an overseas market knows that it’s an incredibly complex and challenging task. Think of how difficult this activity is in your domestic market, and then multiply that many times.

Here are some reasons why a well-written international market research report is so important.

Understand a new market and launch a successful entry. The market you’ll be entering will be different from your domestic market — perhaps radically different. Without a comprehensively written market research report, you’ll be unprepared to enter.

Become familiar with different cultures, politics, economics, geography. A good market research report covers all these areas in detail, allowing you to build a multi-faceted picture of your new market.

Understand the competition. When you enter a new foreign market, you’re unlikely to be the first business ever to go there. That means there will be competitors already on the ground and serving your prospective customers. International market research allows you to understand your competition, learn from their success, and find out how to challenge them.

Identify new opportunities for products and marketing. Conducting international market research in advance allows you to understand the demand in your target market, helping you generate new ideas for product ranges and marketing campaigns.

The challenges of writing an international market research report

Writing any market research report is difficult, but doing this for a foreign market comes with a unique set of challenges.

You’re working with an entirely new culture, and the people you’re researching may not respond well to the methods that work at home.

The infrastructure of your target market may make it difficult to carry out the research using your preferred methods. For example, a country with poor mobile coverage will be challenging to conduct mobile text messaging or telephone surveys. In developing regions, expect things to run more slowly in terms of infrastructure and build in the possibility of delays.

Consider the legal environment of your target market. For example, Europe’s GDPR means researchers have to take extra care when handling personal data or risk hefty penalties.

Your target market may use a different language to the one in your domestic market, which means you’ll have to hire translators on the ground and expect additional challenges.

International markets can be highly diverse. It’s important to remember that what is true in one region may not be the case in another.

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How to write an effective international market research report

Writing an effective international market research report is a challenge, but it becomes achievable with the proper preparation and knowledge. Here are some of the steps you’ll need to follow to create an international market research report that hits all your goals.

Clarify your objectives first

What do you want to achieve with your market research report? There are probably several answers to this question, like gaining a better understanding of your target customers, identifying any roadblocks and challenges, becoming familiar with the legal landscape of your target market, and many more.

It’s essential to set out clear goals in advance before you begin writing the report. This will provide a framework for your research, allowing you to decide on the methods you’ll use, who you will talk to, and how you’ll allocate your budget, among many other things.

Clarifying your goals in advance also helps you set more meaningful benchmarks for success and makes it easier to gain buy-in from company stakeholders by presenting a clear and organized plan for your research. It helps to compile a research brief at this stage, outlining your key goals in one place.

Decide on the methods you will use

Before your research begins, you’ll need to have a good idea of what methods you will use. There are multiple options to consider here, such as

Online surveys
In-person interviews and focus groups
Experimental research
Telephone interviews
SMS surveys
Postal surveys

There are pros and cons to every international market research method, and you’ll probably want to use a combination of several. Part of your preliminary research will involve working out which research methods work best in your target market.

Every country is different — for example, postal surveys work well in countries with a highly developed postal infrastructure but are much less effective in developing regions. Similarly, internet-based methods like email surveys are unlikely to perform well in areas with poor connectivity.

There are also cultural issues to consider here — some cultures are less willing to disagree with a group consensus, which can create accuracy problems with research methods like focus groups.

Clearly understand your competition

Understanding your competitors should be a core goal of your international market research report. In your desired new market, these established companies may understand the culture better than you do, and they have legions of devoted customers you want to attract.

To understand your competition, you need to ask the right questions in your market research, such as:

Who are your key competitors?
Why are these companies popular?
What marketing techniques are they using?
What are they doing successfully that you can emulate?
What weaknesses do they have that you can capitalize on?

Answering these questions will give you valuable insight into what is currently working in your target market and what your target customers are familiar with. This gives you a helpful benchmark for success and a good starting point for your eventual launch.

Make your report easy to read and understand

There are many reasons to write an international market research report, and most of them require a clear and easily understandable end result.

For example, you may be using your report to convince stakeholders and decision-makers to support a planned market entry attempt. These professionals are busy people with packed schedules — and they don’t have much time to review your report.

Make sure your research report is clear and easy to navigate with all the key points emphasized. Use plenty of charts and graphics, and summarize all your findings to make things easier to skim and gain a quick overview.

At the same time, make sure not to omit any key information. The best international market research reports take all the important and relevant findings and condense them into one well-written, concise, and digestible document.

Conduct a post-project review

The work isn’t over once your report is complete! After you’ve finished the report and published it, it’s time to meet with your research team to review the project and assess how you performed and what you could improve on in the future.

Think about any challenges you encountered, where you succeeded, where you could have done better, and what you would change next time. This review helps you identify any actions you can take to make future reports even better. It can also be an excellent way to round off the project and congratulate you on a job well done.

Work with a professional market research team

Writing a strong international market research report is a demanding and complex task, and for best results, you should work with experienced professionals. Working with a veteran market research team helps you avoid common pitfalls, make the most of your resources, and maximize your chances of hitting your goals.

At Kadence, market research is what we do. We’ve helped brands worldwide create effective market research reports in a wide range of industries, and we can help you do the same. Contact us to find out more.