THE SEVEN STEPS TO A SMOOTHER ENTRY
INTO ANY EXPORT MARKET.
#1: TAKE A STEP AT A TIME.Realize what you know and scrutinize what you think you know.
Deciding to export is not a conclusion to come to hastily. Making a snap decision on exporting is tempting given the potential market reach of your products through your website.
Web marketing. For web marketing, getting traffic is all about the right key words. Technical terminology is often universal so that should bring global traffic to your site. Make sure that you include lots of pictures. If you look at global advertising you will see lots of pictures and very little verbiage. Another tip is to offer a portion of the information about your product in another language. That demonstrates an interest in your customer. All these simple tips, at little cost to globalize your website.
Trade show marketing. Although more costly, another way to broaden your reach is through trade shows. Virtually all trade shows are international. Exhibit in a U.S. based show that is the show in your industry sector where there will be good international attendance. Any information that you gather from talking directly to your international customer is valuable, primary marketing. International visitors to your booth at roughly the same percentage as attendees is reason to start considering the viability of your products in the export markets.
Cautiously optimistic. Strong international interest in your products through your website and trade shows and the occasional export order can be a good indicator of your products’ potential abroad. But you still need to proceed cautiously before actively pursuing a foreign market. The information that you compile and maintain through on-line and trade show interest will prove invaluable when you start your export plan.
Evaluate. First compile and evaluate the information that you have acquired from website inquiries and trade show leads. Look for any commonalities between potential foreign customers and your domestic customers. Do a profile of your domestic customer and then complete one for what you learned about or think you know of your international customer. (In doing this exercise, you might even realize something about your domestic customer that you didn’t know before). What do you know about your domestic customer that you don’t know about your international customer? Where are the gaps?
Keep in touch. Follow-up and respond to any interaction. If possible, have one person in your organization be responsible for communicating. It does not necessarily have to be the person of first contact although that is a good idea. And be patient. Communication is likely to be one-sided, your side, it does not mean that there is not real interest in your product. It is just the way other cultures do business.
Look around. Who do you know who is from the country where you are considering doing business? Look in your own office, front and back. Information from employees can be key and “free” in targeting this market. Another plus is information provided is specific to your product line. (Often times with a consultant, you need to educate him about your product while the “clock is ticking.”) And it’s a win-win. The employer gets good primary marketing information and the employee gets greater job security. Also look for other non-competitive businesses that you can tap for how to do business in a certain market. Their success can save you lots of time and money as you venture into markets outside the U.S.