So, you’ve got all your products queued up, all ready to export; but have you considered how to take on the world of foreign trade effectively?
Exporting involves only the best of goods for trade. Yes, to ensure quality, only the best products are procured from places that specialize in manufacturing them. These are then shipped overseas and find a place in the international marketplace.
While exporting is a lucrative option that allows its patrons to enjoy top quality products at the best of prices, it offers immense scope to the merchants to broaden the horizons of their businesses. Manufacturing products in bulk and shipping them overseas may sound simple enough for exporting. However, a meticulous scrutiny, a probe into the EXIM world reveals the complex labyrinth through which the logistics and financial transactions breathe, raking in profit for the merchants. Now, how much do they profit is subject to how well they market their products.
Besides, exporting not only helps you introduce your goods to the world but also helps you to contribute positively to the GDP of your country. Here are a few tips on how marketing can help you expand your export reach:
- Spot the trend!
Remember, hope isn’t a catalyst for making sales. Research and marketing are! You should never invest in goods by just being under the impression that they will sell. The first step towards successful exporting is researching what your target audience wants. Next, it is important to identify the right platforms where there is a potential demand for your goods to sell or where you can create the demand easily. Thus, marketing your goods in the right manner can not only help catch the buyer’s eye but also aid in creating a need for your product in the market.
- Making a Sale vs. Supporting a Buy!
People don’t buy what you are selling. They only buy what they want to buy. When investing in a product to export, always remember that investing in something the buyer wants to buy is far more superior than investing in what you want to sell. You must be prepared to customize your product as per the buyer’s requirements in order to ensure your sales numbers are always on the rise.
- Step into the Shoes of your Potential Buyer!
To understand what a buyer needs, you must step into the shoes of the buyer. Ask yourself questions faced by them. For instance, what are the problems most frequently encountered by your potential buyers? How can your product solve these problems? Who is selling or trying to sell similar products to them? In other words, who are your competitors in the market? What channels are these sellers using to reach your potential buyers? Once you have answers to these questions, marketing strategies will become much simpler to develop.
Basically, at the crux of the matter, the ROI depends on how well you market your product and not just pay attention to its making, which is also of paramount importance. Money begets money. Likewise, customers also beget customers through word of mouth. Apart from referrals, there are umpteen number of ways that need to be explored to grow your audience base, which targets new buyers. This is where marketing strategies come into play and can help you grow your business in leaps and bounds.