In our last Quarterly Economic Survey, it was pointed out that the manufacturing sector suffered a fall back to 2017 Q4 in terms of international sales. The construction industry also took a big swing from positive to negative export sales growth.
Whether you are a new to export company or you are a reactive exporter, increasing international sales in your business can be quite challenging. Many companies have the capacity of doing business internationally but do not have the time or the knowledge to know where to start. We meet a lot of businesses who do not know which markets to target and end up spreading themselves too thin costing them time and money.
Even if you have already identified the markets, making informed decisions about the growth of your business is a significant step in our development strategy. Let’s take the pricing of your product for example. Have you considered every factor when determining the export price such as export document and procedures costs? Have you checked if there are any preferential trade agreements in place between your country of origin and your country of destination? Do you know who your main competitors are and what is their pricing strategy?To increase your international sales, you will also need to think about your marketing methods. As each country’s culture is different, and a mistake could cost you a lot, find out what is the best way to reach your target audience when building your export plan.
We will be running an International Sales & Marketing training course on 11th October to support companies with their development strategy. Please see more info here. If you have any questions please contact us at firstname.lastname@example.org