Selling to an international audience can be a daunting prospect. There are many points you need to consider. Will your new targeted audience be interested in what you are selling? How much extra will you need to charge due to customs duties and overseas shipping? What type of competitors already exist in the market you plan to enter?
Even though there are a lot of questions that need answering, it’s important to look beyond the intimidation of international trade and see the potential available. By expanding into new territories, you can significantly boost your sales figures and gain more dedicated customers.
Before making a move for your business, here are four points to remember before selling internationally.
1. Research the market
If you are targeting a specific overseas country, it’s essential you conduct the necessary research to see if there’s demand for your products/services. Failure to do so could lead to lackluster – and financially draining – results.
When researching, an important aspect of analyzing is product cost. Will this new market be willing to spend the same amount as your current customer base? Due to customs and other additional expenses, is it necessary to raise the prices of your products?
Considering the competition is also a must. For instance, your products could be unique in a certain new country, but they might be entering a saturated market in another. The latter is something you want to avoid because trying to displace established, local outlets is incredibly difficult.
2. Shipping considerations
Shipping your products overseas is one of the biggest issues with international selling. It’s more expensive to do, it takes longer for packages to arrive, and there’s the added jeopardy that it might not make it to its destination.
However, a lot of these issues can be averted with the correct approach. By using a platform like Shiply, where delivery companies bid for your job posting, international shipping can suddenly become a lot cheaper than you expected. Add in their expertise and customer feedback, and you can also be comforted your products will get to international customers in an efficient manner. For more information, visit:
3. Complete the paperwork
It’s the boring part of the process, but it needs to be done. It’s important you understand the rules and regulations relating to the importing/exporting in a new international market. By completing the correct shipping documents, you can prevent shipment delays and various other issues from occurring.
4. Marketing to a new audience
You might think you know how to market successfully based on your company’s current success, but the game can change significantly when targeting a new international market. As an example, social media usage can vary by a large degree from country to country. You might be reaching a lot of customers currently on Twitter, for instance, but this platform could deliver poor results in a different market.
Using the correct language and tone is another important point to consider, as you never want to offend or alienate a new market.