Globalisation has reshaped the business landscape, offering immense opportunities for companies to expand their reach and engage with diverse markets. Nepal's B2B sector, though relatively nascent compared to the rest of the world, is experiencing the ripple effects of this interconnected world. With technological advancements, increased market access and collaborative potential, globalisation has become both a gateway and a gauntlet for Nepali businesses. As the world becomes increasingly interconnected, businesses in developing nations must adopt innovative strategies to thrive on the global stage.

Here we explore how globalisation has impacted B2B marketing in developing nations, the opportunities and challenges it presents, and the role of emerging technologies like artificial intelligence (AI) and supportive government policies in levelling the playing field.

The Role of AI in Levelling the Playing Field

Not too long ago, advanced marketing tools and strategies were accessible only to large corporations with deep pockets. But AI has changed the game. Today, small and mid-sized Nepali businesses can access the same transformative technology once reserved for industry giants. AI allows companies to analyse massive amounts of data, predict market trends and optimise marketing strategies without breaking the bank.

For instance, a local marketing agency in Kathmandu was able to utilise various AI-driven tools to study customer behavior and tailor its offerings to the European and Australian market. This strategic approach helped the company secure contracts previously thought unattainable. By adopting AI, Nepali businesses can overcome resource constraints and compete effectively on the global stage.

Opportunities in the Globalised Marketplace

Globalisation has broken down traditional barriers, giving businesses in developing nations like Nepal unprecedented access to international markets. For B2B companies, this presents tremendous opportunities like:

Expanded Market Access and Exposure: Globalisation allows Nepali businesses to tap into larger, more lucrative international markets. Platforms like LinkedIn, Zoom and global marketplaces connect businesses to potential clients worldwide. For example, several Nepali technology firms like Leapfrog Technologies, Cloud Factory and TechKraft, to name a few, now provide software solutions to companies in Europe and North America. These opportunities also expose businesses to global trends, enabling them to adopt best practices and remain competitive.

Collaborative Partnerships and Knowledge Sharing: Partnerships with international organisations bring invaluable expertise and resources to Nepali companies. Collaborative ventures not only foster knowledge sharing but also enhance credibility, making it easier for Nepali firms to gain the trust of global clients. For instance, joint projects with overseas partners can open doors to larger networks and untapped opportunities.

Technological Advancements and AI Integration: Global exposure accelerates the adoption of cutting-edge technologies. AI, for example, has emerged as a game-changer for small and medium enterprises (SMEs) in Nepal. From automating marketing processes to conducting predictive analysis, AI enables even smaller firms to compete with global giants. By leveraging these tools, Nepali businesses can showcase their local expertise on a global stage.

Challenges in the Global Landscape

Despite the promise of globalisation, businesses in a developing nation like Nepal face a host of challenges. Without adequate preparation, these hurdles can stifle growth and limit success. Some of these challenges have been listed below:

Cultural and Regulatory Hurdles: Adhering to international regulations like General Data Protection Regulation (GDPR) and International Standardisation Organisation (ISO) standards can be daunting for Nepali businesses. Language barriers and differing business etiquettes further complicate client relationships. For example, a Nepali company entering the European market might need to comply with strict data protection laws, which can be overwhelming without proper preparation.

Intensified Competition: Established players from regions like India and Eastern Europe have decades of experience and abundant resources. Nepali businesses must carve out a niche through cost efficiency, quality and specialised expertise to compete with them in the global stage. High employee turnover, as talent migrates to higher-paying international firms, adds another layer of complexity for Nepali firms.

Brand Perception and Credibility: Nepal is still a relatively unknown market globally, and scepticism about the reliability of its businesses is common. Nepali businesses need to showcase success stories, obtain certifications and maintain consistent quality to overcome this and build trust with international clients.

Strategies for Success in a Globalised World

A mix of global vision and local understanding is what Nepali businesses need to thrive in a globalised economy. They must focus on building relationships, understanding cultural differences and leveraging technological advancements. Outlined below are some of the strategies that Nepali businesses can adopt.

1. Localisation and Cross-Cultural Understanding: Tailoring marketing strategies to align with the cultural and linguistic preferences of target audiences is crucial. For instance, using AI tools to analyse sentiment can help businesses adapt their messaging for different regions, making them more relatable.

2. Building Strategic Partnerships: Collaborating with international firms can provide access to new markets and enhance resource-sharing capabilities. By establishing partnerships with industry leaders, Nepali businesses can gain credibility and insights into global market dynamics.

3. Digital Marketing and Branding: Leveraging digital channels like LinkedIn, Google Ads and social media platforms is vital for increasing visibility and engagement. Creating a strong brand identity through thought leadership content, case studies and testimonials can help Nepali firms establish trust with potential clients.

4. Investing in AI-Driven Solutions: AI can significantly boost operational efficiency by automating repetitive tasks, enhancing customer support and personalising outreach efforts. For example, chatbots powered by AI can provide 24/7 assistance, ensuring better customer retention even across time zones.

5. Advocating for Government Support: Government policies play a critical role in enabling global expansion. Simplified export procedures, training on compliance standards and incentives for international certifications can reduce barriers for Nepali businesses. Policies promoting the IT sector, as seen in countries like Philippines, can be replicated to empower Nepali B2B industries.

How Government Can Drive Global Expansion

The success of Nepali businesses in the global arena heavily depends on supportive government policies and initiatives. Supportive policies boosting the IT sector in developing nations like Bangladesh and Vietnam have driven their global success. Nepal can adopt similar strategies to strengthen its B2B industries. Some key areas for improvements include:

• Export Incentives and Simplified Regulations: Streamlined export procedures and tax benefits for businesses entering global markets can reduce barriers for B2B businesses to enter international markets.

• Training and Capacity Building: Government-led initiatives to train businesses on international compliance standards, such as ISO certifications, can enhance readiness for global competition.

• Infrastructure & Skill Development: Investments in digital infrastructure, such as high-speed internet and data centers, transportation systems, etc, are essential for supporting global operations. Government-funded training programmes in areas like digital marketing, AI, and cross-cultural communication can also help businesses build a globally competitive workforce.

• Promoting Nepal as a Business Destination: Government-backed campaigns showcasing Nepal’s talent pool, cost advantages and innovation potential can attract international clients and partners.

Conclusion

Globalisation presents a dual-edged sword for Nepali B2B businesses by offering immense opportunities while demanding strategic navigation of its challenges. By embracing AI, investing in digital marketing and building strong partnerships, Nepali businesses can position themselves as credible global players.

However, sustainable success requires a concerted effort between businesses and the government to address infrastructure gaps, regulatory hurdles and brand credibility. Although Nepal’s journey into the global B2B market is just beginning, it has the potential to establish itself as a formidable player with innovation, perseverance and the right policies.

(Karki is the co-founder at Korifi B2B, a full-service and arguably Nepal's first full service B2B Marketing Agency working globally and Gadtaula is analyst at Business Brainz, a global business research and insight firm operating from Nepal.)

(This opinion article was originally published in  January 2025 issue  of New Business Age Magazine.)