While different combinations of products, markets, and technologies may demand unique marketing strategies and business models for success, we typically recommend following this proven three-stage methodology:
Stage 1: Assess Viability
- Recognize macroeconomic influences [GDP, Inflation, Interest Rates, Fiscal Policy] on trends and trade in alignment with them, not against them [MA, EMA, MACD, RSI, Pivot-Rs-Ps]
- Know your FOREX: Local inflation – US Inflation x Local Currency’s Value => FOREX Forecast
- Conduct “PERIODIC” comprehensive analysis using tools like 4Ps, PEST, SWOT, and the P5 framework
- Research customs data to identify potential markets
- Budget export target accordingly [EXPOT – AcPOT] x %2 TMS = 1st year Un-EXPOT
- Calculate shipping costs, import duties, and VAT expenses
- Consider local laws and potential restrictions
- Evaluate the purchasing power of the target market
- Assess your competitive advantage relative to local competition. A competitive advantage is NOT any of the following: Inexpensive, Low-cost, Bargain, On sale, Marked down
Stage 2: Securing the First Order
Establish and optimize your company website to initiate communication, build trust, and establish credibility. (SEO, ADWORDS, Social Media, Email Marketing)
Identify and reach out to potential prospects, present offers (NDA+PI) against (LOI), and provide samples
Analyze feedback received, adjusting pricing and quality to meet customer requirements
Generate a Purchase Order (PO) based on the client’s order specifications, including payment method and shipping details and schedule foreseeing the unexpected worse possible case scenario
Opting for Inspection Services provides significant value: SGS, BV, TÜV SÜD, Intertek, DNV GL, UL, Eurofins, SAI Global, Cotecna, ITS, ALS Global, etc.
Stage 3: Payment and Shipping
- Ensure payment is received before shipping
- Understand Incoterms: i.e. If shipped FOB instead of FCA, the seller is responsible for “unexpected” shipping and storage delays
- Ship the products, confirming delivery and quality. Solicit feedback to continually enhance performance
- Continuously exceed customer expectations with exceptional service, as this becomes your ultimate competitive advantage
Crucial Rules to Follow
- Never approach a prospect until you are absolutely certain they need your product and that your offer serves their best interests
- Always provide accurate, unbiased information
- Avoid making assumptions
- Never ship products without securing payment first
Warning:
- Don’t issue price lists and quotations without specifying their validity period
- Avoid errors on the first (trial) order
- Don’t send samples directly from the factory to prospects
- Avoid creating parallel negotiation channels within an organization
- Never oversimplify the export process, as it involves multifaceted considerations and actions
- Learn to quantify (KPI), benchmark, measure and forecast the outcome
- Follow commonsense, avoid the hype & trust your instincts
- Your customer represents an embodiment of your target market’s demand; acknowledge and value the learning experience beyond its monetary significance; you can and will run out of people very much like running out of any other valuable resource if it goes to waste.
Sales Tips
Selling methodologies can be classified into three primary models: Canned, Adaptive, and Consultative. The past four decades have witnessed a significant increase in production capacity and efficiency, leading to intensified competition for a limited number of prospects. This evolution of sales models can be directly attributed to the global industry’s shift from primarily serving suppliers to proactively anticipating and surpassing consumer needs.
In the context of international B2B marketplaces, buyers are typically highly trained, astute business professionals with a keen eye for financial efficiency. Their primary objective is to streamline the procurement process by reducing intermediary layers and securing the most competitive offers exclusively. It’s important to note that in many international sales scenarios, the goal is not merely to promote a specific product or service but to present a profit-generating proposition.
However, the challenge lies in the fact that some sales training programs fall short of providing a comprehensive guide to achieving success in culturally diverse markets. This is especially crucial given that over 50% of global GDP is generated in Command-Market economies. Nonetheless, through the implementation of research-based training programs, it remains feasible to develop tailored models that align with both product specifications and market diversity.
In sales, Neil Rackham’s ‘Spin Selling’ method offers a structured four-step approach: Situation Questions to understand the prospect’s context, Problem Questions to empathize with challenges, Implication Questions to highlight consequences, and Need-payoff Questions to showcase benefits. This emphasizes tailored solutions for value. For effective negotiation, remember Cialdini’s six principles of influence: reciprocity, commitment, social proof, authority, liking, and scarcity. Meanwhile, Fisher’s negotiation concept emphasizes separating people from the problem, focusing on interests, generating mutual gain options, and using objective criteria. In export sales, two main approaches are outbound (proactive, like cold calling) and inbound (attracting via advertising and digital marketing).
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