An export marketing plan is just like any other plan to make your business function properly. And just like with any other plan, it requires preparation and research. Here are some tips for developing an export marketing plan.
#1 Look at the Overall Picture
First, you want to look at the general picture of what you will be getting yourself into. Starting to export is a very important step, so you will need to think of it on a more global scale first and foremost. You will need to look at it both from your point of view and from the point of view of the markets of those countries (aka get an insider point of view).
It’s better to start off with the top countries considered most appropriate for export. After you study them, you will be able to get to the more detailed parts such as the pros and cons of each particular country you are considering, the challenges you might encounter on those markets, the cultural peculiarities of each region, and so on.
This first step is essential for your research because it will build the foundation of your knowledge about each country onto which you will add all the other details you learn about during the process.
#2 Get Down to Details
After you’ve studied the overall picture, you can get down to details and start analyzing every single element to get a hang of what is actually the best choice for you. If you have a list of countries that you want to be exporting into, then you can get to them immediately. If you don’t have such a list yet, you can first sit down to compile one.
It is very important to look at each country separately because that is how you will be completely sure about what you are getting into. This will be a serious investment for you, so you need to know about any possible issues that might arise right away or later. It’s better to get in touch with an expert to get the most insight into the matter.
While looking at the overall picture will give you a general idea of the market of every country you will be exporting to, looking at the details will help you make your own plan more detailed. If you know the various twists and turns as well as the challenges you might face, you will be able to prepare to them better.
#3 Study Every Country Separately
Every country is different, and you probably understand that. This is why analyzing each region separately is so fundamental for your export marketing plan. Try to look at what your competitors are doing in each of these countries and how you could integrate that into your own marketing strategy.
You could do this research by yourself or with the help of a writer you can choose from Online Writers Rating who will help you find information in another language and understand it. Of course, you could simply research in English, but you might not get a complete picture if you only do it this way.
The point is that you need to understand each country and their culture as much as possible. The culture is extremely important because it will help you figure out whether or not it is worth exporting into that particular country. If you decide to sell exotic fruits in a country where these fruits are found in abundance, then you won’t make a profit at all.
#4 Weigh in on the Pros and Cons
Every market has its own pros and cons. In one place, you will see that it is very important to address the cultural or religious impact of your product. In another place, the practical sides of your product will be more valued. Whatever you are selling and wherever you will be selling it, it is crucial to understand such nuances.
A good idea would be to run some tests to see how certain things will perform. You could take one of your products and start exporting it into the countries or regions you had been eying. Then, once you get some practical experience and you will arm yourself with your previous theoretical knowledge, you will be able to create a more accurate export plan.
At the same time, try to get some feedback from experts who can look at your performance metrics and tell you if these are good. An objective look at the situation from someone who knows their job (maybe even better than you) will give you a lot of valuable advice that will help you with your export marketing plan.
#5 Make Your Final Decision
After all of this research, after all of the tests and feedback, you can make your final decision. Sit down and think everything through. Make a list of countries, then eliminate the ones that don’t pass your tests or don’t follow the criteria you set out for yourself and your business. Try to be as objective as possible and carefully assess your chances for success.
Your aim at this last stage is to determine your countries and put together a comprehensive export marketing plan that will be based on all the information you have previously collected. This stage is probably the most important one because this is when you make your final decision and start investing huge amounts of money into a risky enterprise.
In other words, know what you are doing and make wise decisions. If you are unsure about a certain country, leave it for later. When writing down your marketing tactics, consider combining some of them to see if they are more effective together. Look through your plan again and edit anything that feels too risky for you.
In conclusion, it is important to prepare properly and do as much research as possible about the markets you want to be expanding into. Follow the tips in this article and you will be on your way to creating a great export marketing plan.