With geographic boundaries blurring, more and more companies want to enter overseas markets. But entering global markets is not the same for everyone, and to be successful, business professionals need to consider the cultural differences of their targeted countries. And so, here are three important differences between American and European business culture.
The marketing culture in America differs in many ways from Europe. Most notably, American companies spend more money on advertising than European companies. This is because the latter faces a more restrictive regulatory environment at home.
Sports broadcasting in the United States is one example of this. For instance, in 2021, it cost advertisers an average of USD 5.6 million to air a 30-second long commercial during Super Bowl LV. And these commercials are sometimes more intrusive than those aired in Europe. Every stoppage in gameplay, not just in the NFL, but in the NHL and MLB as well, has its own ad break. In Europe, with football the primary sport of choice, commercials are limited to half-time. In the Premier League and Champions League, banners are displayed on-field, but other than that, it is 90-minutes of unimpeded action.
The use of different social media platforms in America and Europe, such as Twitter and Instagram, is relatively equal, as, in 2021, every company in the world understands the influence these platforms can have on competitive advantage and quarterly sales. But that does not mean every other online industry is the same between the two.
To gain perspective on this, we can look to the online gambling industries in America and Europe. This is because Americans have a different culture surrounding online gambling and the various requirements connected to the industry than Europeans. For instance, even though Europe has gambled online for 15 years, this Bonusfinder US post shows that American players sometimes have a one-up. That comes in the form of casinos offering wagering requirements as low as 10x, or sometimes even no wagering requirements at all. Further, American casinos have quickly snapped up the long-running European bonus structure, offering players free money to use as free spins bonuses and deposit bonus matches.
To understand the cultural differences of other countries, business professionals should conduct a cross-cultural analysis. An acceptable cross-cultural analysis should focus on mastering the values and customs of other societies. However, it is equally important for professionals to look at language.
Business professionals should know and understand the basics of the native tongues of countries they are trying to move into. This includes an American business professional looking to make connections in the United Kingdom. Sometimes it is easy to forget that American English differs from British English, and though cultural exposure means most people will understand what you are trying to say, your propositions will be more welcomed if you make the effort to adapt
As the idea of globalization and internalization continues to grow in popularity, every business professional must understand the differences in business culture — even if that means mastering one country or continent at a time.