Five Overlooked Ways to Maximise Your Returns from Export Market Development Grants (up to $150,000)
Being strategic with your international marketing not only helps businesses reach a larger number of audiences, but a lesser-known fact is that it can also be a way to maximise the amount of money that you can claim in export grants.
Export Marketing Development Grants (EMDG) is a lucrative scheme that all businesses who are exporting overseas should consider applying for. Under the scheme business can reimburse applicants for up to 50 percent of marketing expenditure for eligible costs and depending on the nature of your claim the total amount reimbursed can amount to $150,000. Under the EMDG scheme, businesses can claim marketing costs incurred from location hiring, design, editing, filming and more. This article serves as a guide for any business looking to apply for the EMDG grant and wants to know how they can strategically position their digital marketing and advertising activities to maximise returns under the EMDG scheme.
When applying for an EMDG grant it is important to keep in mind that Austrade will only reimburse businesses based on apportioned costs. This means that costs that are reimbursed will only apply to those expenses that reach overseas audiences while excluding costs targeted at the Australian market. Businesses wanting to claim back as much expense as possible, must have methods to measure and maximise their international marketing audience reach to strengthen their EMDG applications. This entails taking several strategies into account.
1. Manage marketing activities with a CRM
CRM platforms are a crucial way to substantiate your international marketing strategy and maximise your ROI. It provides a means for business to quantify and finetune marketing campaigns while getting a better understanding of existing customers.
2. Utilise automation and analytical tools
These tools are cheap and accessible. Automation and scheduling platforms like Hootsuite can also be used to better manage marketing campaigns across different time zones. Facebook and Instagram’s geo-targeting tool to get a better understanding of which countries your marketing campaign audiences are based.
3. Know the effectiveness of your channels
If you are using an influencer as part of your marketing strategy, there is no point in getting a well-known influencer to promote your brand if most of their followers are domestic. Make sure you get insights into where their followers are based to assess the effectiveness of your international marketing strategy.
4. Keep consist of messaging across platforms
Multi-platform marketing campaigns can help reach wider demographic of audiences, but it is important to keep a consist messaging to make it easier to measure the effectiveness of your marketing strategy
5. Country Adoption
It’s much safer to use a country domain website to reach the audiences you are targeting. Hiring overseas production teams is also another way you can claim back more expenses under EMDG.
Need help with applying for EMDG Grants?
Smart Mango is an export marketing and development agency based in Sydney.
Our local and international network of specialists can offer you with EMDG application support, in-country representation, and international marketing strategy to help your exporting business succeed.
Contact us for your free consultation today