How To Sell Your Products All Around The World
Selling locally is challenging enough. But when you bring your business to the global stage, things become even more difficult. All of a sudden, you have to deal with a bunch of problems you hadn’t encountered before.
Globalization has brought new opportunities. However, it’s also brought new challenges. The key for modern brands is to overcome them and spread their wings internationally. But how are you supposed to do that effectively? Let’s take a look.
First, it’s a good idea to travel to the destinations you want to sell to so that you can understand consumers on the ground. Their needs might be radically different from the home market.
Don’t underestimate the degree to which culture can vary from one destination to another. Priorities in the Far East, for instance, tend to be highly different from those in the West.
Once you travel, you gain a better understanding of a place and what it needs. You can then make an informed decision about whether it’s a good destination for your product.
Choose Your Markets Wisely
Next, be careful about which markets you enter. You’ll notice that many companies are extremely cautious when choosing countries to set up locations abroad.
There’s a good reason for this: it’s incredibly easy to make mistakes. Some markets are limited while others do not need your products at all.
Use The Right Research Methods
Don’t rely on outdated research methods to measure the enthusiasm for your products or services abroad. Adopting the wrong strategy can be disastrous.
Most firms now use scale-independent MaxDiff. What is MaxDiff? It’s essentially a way to get customers to tell you how they feel about your products and services without objective ratings. It involves simply comparing products across a category and finding out which they prefer.
These methods work well across cultures. They don’t rely on subjective measurements or context that could bias the results.
When you enter a new market, you may also find that you bump up against local stereotypes. People may believe that you or your brand is a certain way, based on their experience.
It’s a good idea to deal with these stereotypes immediately. If it helps, you may want to change your brand entirely to make it harder for locals to label you.
Go Along With Other Startups For The Ride
If you know that another company is trying to enter a particular market, it’s a good idea to go along with them for the ride. If you can cobble a group of you together, it’s easier to learn and make headway. If someone makes a mistake, they can share it with other businesses that can learn from it.
Check The Legislation
Lastly, if you’re selling abroad, you’ll need to check the legislation. The rules can be quite different from one location to the next, and there’s no real reason for it.
Keep tabs on all the laws and regulations that apply to your industry. Ensure that you work with local lawyers on the ground to avoid compliance issues.
Categories: Outside Contributors