The Internet is a wonderful thing for startups. You can set up a company in your bedroom one minute, and start sending products out to Indonesia the next. Plenty of startups concentrate on serving their local markets first, and it’s a robust way of getting off the ground. But, there are plenty of opportunities elsewhere in the world, too. Here are some essential tips for making sure you succeed with selling internationally.
Choose your market
First of all, you should make sure that your product or service will be welcome in a particular country. You will know this from the amount of traffic that arrives at your website, and the amount of orders you receive. If you notice that sales are going well, then it’s time to make the most of your opportunity.
Your next step is to study the area. Ask yourself why your product or service is so popular there, and take a look at the competition. You could even ask your customers about their experience of buying from you, and what prompted them to make the decision. The more info you can dig up, the better you can make your proposition.
Now, it’s time to start making a more concerted effort to build a presence. You can do this online at first, and if things go well, you might end up creating an international office. For now, though, keep things simple. Choose a domain name with the proper suffix, and try and use a web address that is the same as your brand – are as close as possible. It’s also a good idea to look into a translation service, to make sure that your message is coming across as intended. Multilingual Connections have some excellent advice on what to look for over at their website. Take a look and see the many benefits that translation and interpretation can bring to your business.
Do not underestimate the way you take payments when selling to a foreign country. It can have an enormous impact on your bottom line, and it can also make it tough for you to achieve enough growth. You’ll need to look at taxes, local exchange rates, and prices of competing products. You might benefit from selling your service at a cheaper rate, too, so you’ll need to work things out on a calculator. And, one important thing to remember is that it is vital to make changes to your shopping cart system. Make sure that your prices are in local currency – it can make a big difference to your conversion rate.
Rules and regulations
Finally, although we have covered this briefly above, it is vital that you understand the rules and regulations of selling abroad. Every country is different in how they expect companies to do business, and there will be regulations to deal with in almost every field. Advertising, copyrights, and product standards – it can all impact your business. However, do your homework, and you will be able to sell safely – and start planning the next stage of your project. Whether that includes moving your business abroad is down to you – but it’s a distinct possibility!