Looking to raise your profile and compete internationally? Want to bring business in from overseas?
May 21, 2019 at 12:44 pm
Before stepping into the international
market, it is important to ensure that you have a good product-market fit. In
some cases, you may need to refine your products and services before beginning
Knowing how your product or service might
work best and for which international markets, is essential (a SWOT analysis
can really help you), but there are also some key questions you can ask to find
out whether you’re export ready.
Are you established in the domestic
market? Very few businesses enter the inbound market without first establishing
themselves in the domestic market.
Do you understand the needs of
international markets? Consider the target customer styles, motivations,
expectations, language and cultural differences
Do you understand online distribution
channels? It’s important to know how to promote and distribute your product
online and how this impacts on any other distribution partners you might have
Are you familiar with the international
Are you prepared to work with partners?
If you work cooperatively with other local businesses to provide an enhanced
service experience, you can stand a better chance of attracting new customers.