Nearly every business publication or management consultancy preaches that global markets are the path to riches. We agree–expanding a business into international markets is a solid strategy. In practice, though, reaching into global markets exposes and tests the limits of monetization capability for most companies. This applies to billing international clients, managing global revenue recognition, collecting taxes, administering local payment methods, harmonizing pricing, staying in compliance with local regulatory mandates, and providing support across time zones and barriers of language and culture. This research report examines the best practices a company needs to adopt in order to successfully expand its digital monetization to global markets. It also introduces a 17-point global monetization assessment framework (Global Monetization 17 or GM17) to help organizations benchmark and self-assess their readiness for global commerce–online and offline.
- What are the key monetization challenges of global business expansion?
- What are the best practices for scaling monetization globally?
- How can organizations manage and measure their global monetization operations?
This research report examines 17 fundamental categories of global monetization assessment in areas ranging from international language support, payment processing, and billing to global revenue recognition, order management, and risk and supplier management (among others). Over 50 essential evaluation criteria are highlighted.
Scaling monetization for global business expansion can help organizations accelerate topline growth, improve profitability, and boost customer satisfaction. Organizations should not assume that domestic monetization practices can be translated into international contexts with small incremental changes. Success in global monetization requires local knowledge, global best practices, careful planning, agility, and strong partnerships with key suppliers of technology tools and services. The Global Monetization 17-Point Capability Assessment Framework (GM17) can be a starting point for realistic self-assessment and creating a plan of action.