Export Marketing Tips
One of the major hurdles to clear when becoming involved in the exports business is in finding international contacts and buyers to market your goods to. There are, however, a few easy ways to get your export marketing started so that you can be successful.
One of the major differences between marketing goods and services domestically and doing export marketing is that international consumers may have a different culture or language. They may be opposed to imports or biased against companies or people from a particular part of the world. Companies already operating in those countries may produce the same goods and services. The first and most important step to successfully exporting to another country is to do export marketing research to identify the countries consumers that will want your specific product.
It is important not to assume that a given product will appeal to the same market internationally that it does domestically. Analyzing variables like age, gender, class, ethnic or cultural background, and industry of employment and how they influence purchasing decisions will allow for much more targeted export marketing. In addition, a product that appeals to small businesses in one place may appeal to public sector or large businesses in another. Finding a target market and target population will help a company know where to start.
Know the Competition in Export Marketing
Export marketing is most effective when it clearly states what the advantages of a specific product are. Using export marketing research to identify other companies that are producing similar goods or services in the country that a company is trying to move into will help make advertising more effective. For instance, making inroads into a country that has a long-standing company that will be competition may require showing what your new product can do what the old one cannot.
Language or cultural barriers may prevent an exporter from selling well in a new area. This can be something as simple as a poorly-chosen name that means something negative in the local language, but it can apply to other areas as well. An exported product may have been viewed as a necessity at home, but as a luxury in the country it is being exported to. This could dramatically alter you projected sales data. Hiring an export marketing company with experience in the new area can help make sure that a marketing campaign will not be culturally in appropriate.
How to Conduct Export Marketing Research
Export marketing research can be done in a number of ways. Media sources like newspapers, the internet, and trade journals, as well as trade associations and experienced exporters are good resources. Some companies perform their own export marketing and research by going to potential export markets. Finally, many companies will commission an export marketing company to do research and even design an export marketing program to make sure that their company has the right tools to move into a new country.
Moving into new markets can be tricky, but doing export marketing research will help make the move successful. A good research program will allow you to design a highly effective export marketing program, which will make your company much more successful at attracting overseas partners and consumers.
If you enjoyed reading about Export Marketing Tips then see our next article Export Procedure.
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