Glocalisation is not a typo - it is the intertwining of two concepts; globalisation and localisation. So what does this really mean and how does it affect small businesses today?
Essentially we are talking about the practice of developing products and services to be distributed on a worldwide platform while being tailored to best serve customers based on local market needs. It is the implementation of global context with local solutions.
Now the important part...why should small businesses pay attention to this growing trend?
Glocalisation implies that some degree of globalisation is necessary in order to compete on a bigger scale – standardising the product or service, while leaving some wiggle room to cater to individual markets.
An example? McDonalds may look exactly the same in the US and in France, but the menu options will include regional favourites, in order to keep the local market satisfied. Perrier and Beer with Le Big Mac si'l vous plait?
Blogs are an excellent way to handle client queries, complaints or concerns. Operating in an open book fashion, sharing advice with other customers who may share the same concerns provides a superior level of customer support.
Some benefits of going 'glocal' are:
- Customer base expansion
- Reduction in operational costs
- Access to quality resources
- Restrictive regulations
- Currency exchanges
- Increase in competitive pressure
The goal is to present a familiar face when introducing a product or service to a community.
Small businesses may feel pressured by the corporations that are moving toward the glocalisation trend as it seems they are dominating the market and making it hard for local business to flourish. In fact, the trend has influenced the increased promotion of 'buying local', which has worked for small businesses.
Local businesses can compete by promoting sustainability, going green and creating a smaller ecological footprint.