Should Your EXPORT Strategy ONLY Be a Substitute for a Weak Domestic Market?
April 5, 2017 | Nigel K. Moore, International Management Consultant, NVIE
Exports are too often not part of a company’s strategic marketing plan. When domestic sales are robust, often there is little interest in undertaking the nuances and sometimes complexities of finding, developing and selling to a foreign market.
Statistically, smaller companies will perform better if they export, but they must be proactive in their approach to make sure the right markets and distribution channels are well defined and executed. Keeping it simple with proximity and similar markets will help reduce both cost and risk.
The information needed to start an export transaction includes how the goods for export are classified, where they are going, who is receiving them and how they will be used. Product differentiation, in terms of a clear value proposition, is key to enhancing export success.
You may already export to a handful of countries, but believe there is a much bigger opportunity in global markets. Maybe you’re new to exporting, or not even exporting, and would like to shift from a reactive to proactive approach to increasing growth and profit.
U.S. companies for years have relied solely on the domestic market for growth…but that piece of the pie is getting smaller, its not just about growth, its about survival with 80% of the worlds market being outside the U.S.
You may see growth opportunity in global markets, but are struggling to carve out the time and resources to make it happen. Whether you are an accidental exporter reacting to foreign inquiries or have been exporting for years and want to get to the next level, #EXPORTECH™ could be your solution.
It’s a structured export strategy development process that assists 4-8 companies to accelerate growth and the ONLY national program that helps each company develop an export plan, efficiently connecting companies with world-class experts that help navigate the export sales process. It saves countless hours and eliminates fear of the unknown about getting paid, protecting intellectual property, finding sales reps and more. On average, participating companies generate $770K in new export sales.
EXPORTECH™ is a joint program offered nationwide by the National Institute of Standards and Technology’s Manufacturing Extension Partnership program (MEP) and the International Trade Authority (ITA) both part of the U.S. Department of Commerce.
Back To Blog News