As we already know from the 1st blog that there are generally four stages of an export journey. Namely:
- Export Readiness Assessment
- Export Marketing
- Export Sales
- Export Shipment
Today, we will be discussing about the 2nd step of Export Journey.
Stage 2: Export Marketing:
As we are prepared now for export business, the next step is to find buyers for the products we have selected o export. To find buyers, we might adopt traditional export marketing ways such as attending international tradeshows or modern ways like internet base online marketing.
Whatever we choose to find buyers you must remember that, entering in an international market might take times ranging months to years. So, one must have a long term export marketing plan.
The export marketing plan should include the chosen routes to enter international, marketing tools to practice, measures of success etc.
Export marketing is expensive and time consuming. One must understand the proper norms of export marketing to avoid frustration. For example, export marketing will result in generating leads. We need to nurture those leads to make them our customer.
In this step, one need to have the following marketing functions for your export business:
We need to have a marketing objective (e.g. in next 12 months you want 50 leads and at least one successful sale)
At least one marketing lead generation routes/tools that regularly bring us interest/inquiries for the product
It is important to have export marketing budget that is properly used by the export business team.