Tips every exporter should know...
Once you've decided to export to Latin America, the next step is to learn some basic business dynamics. Follow these important tips to get you there:
- Understand the rules of engagement - Find out at the outset what is required to save a few headaches later, particularly on issues like regulations, intellectual rights, duties and paperwork.
- Understand the market - Learn about your customers and find out how your products might need to be adapted for export and what regulations must be complied with.
- Research your costs - Understand any costs you might incur from shipping to incidental services. A clear understanding of costs is vital to assessing the profitability of each opportunity.
- Follow the exchange rate - Particularly in uncertain economic times, a good understanding of how fluctuations in exchange rate will affect profitability and pricing is vital.
- Look into the future - Every profitable sale is welcome. However, it is worth looking at long-term market potential to assess whether initial investments might bear fruit later.
- Assess your competition - Find out who you are competing with, how their products and pricing differ from yours, and how they operate.
- Communicate effectively - Be sensitive to language and cultural differences in your target market. Tailor your communications to suit potential customers.
- Streamline the paperwork - Secure export certification and documentation online to save time and money, but use only trusted suppliers.
- Don’t over-commit - Focus your efforts on one market at a time and prioritize according to both short-term opportunity and long-term potential.
- GET HELP - Export support and advice through every stage of the export process is invaluable. In many cases it makes the difference between success and failure.
How to get Started?
Are you export-ready? You know you have a marketable product and the capacity to compete on a global scale. The trick is to figure out how to make it happen.
Working as an extension of your sales and marketing departments, DTGlobal can help you develop export strategies tailored to your specific needs. Our services include:
- Assessing your company’s export readiness
- Building an export plan
- Researching your target market and competition
- Building your export marketing plan
- Determining the best methods of delivering your products
- Developing and executing your marketing plan
For more details, please contact us at 519-721-8345, This e-mail address is being protected from spambots. You need JavaScript enabled to view it , or click here.
