June 14, 2024

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Studying business science

Do You Have A Winning Export Business Strategy?

There is a famous saying that, `Behind every successful man there is a woman’. The same holds true for business too… `Behind every successful business, there is a strategy. One has to be extremely careful when working out their strategies for the export market. You might get away with improper plans in the domestic market but the export market is harsh & cruel. As it is the export oriented market is a extremely competitive one with people working on the minutest of margins, so it is important to grab hold of an opportunity and stick with it. Targeting your market, keeping reasonable prices, having a proper & efficient distribution channel etc. are the keys to a successful export oriented business.

Marketing Strategies for Export Business: Marketing strategies for the export market is not too much different from your local marketing strategies. Different countries have different ways of looking at the same product; hence it is best left to your distributors in a particular country to look after the marketing strategies for that country. Do not overload yourself with all the work. Concentrate more to see that the distribution & production channels are running smoothly. Logistics is one point that one should take care of along with stock positioning. Suppose you have a surplus stock of goods in one European country and there is a shortage of supply of the same product in another European country. It makes sense to forward the excess goods in the European country to the European destination that is facing the shortage. Not only will you save out on money, but also the goods will reach the required market much faster. One should also have a decently designed website along with their own domain. I for one, would never conduct business with a person who had a Yahoo email id.

Set your priorities right: Before you embark on your export business you have to set your marketing objectives properly. Remember, you are an unknown face over there and your potential market will know about your products if they are exposed properly. Having one’s website does help and a properly designed webpage with search engine optimized pages that come up in the top 10-30 results helps a lot in marketing your product properly. Even then, it is suggested that one advertises in the proper media for a couple of weeks running. Once you have been able to reach out to the potential buyers, it is the quality of your product which will market itself. Word of mouth advertising is the most successful means of getting ones goods promoted and it does not cost a copper. Your agents should be able to chalk out an advertising blitz for you, or if you so prefer, you can use the services of an international advertising agency.

Know your clientele: One needs to be sure that the product they are marketing is of international standards. What might be good for your country might not be for other countries. Most foreign countries have stringent `quality control’ laws and one should be aware of the same. Good and loyal customers are hard to come by and hence you should assure that you follow up your sales with god after sales service. Treated properly, these same clients will spread news about your products and hence earn you more clients. One should pay special attention to their distribution and after sales centers in foreign locales. They should be managed by a reliable person who should report back directly to you.