In the last blog, we got to know that we need to market our products to the sellers in various ways to find out a potential buyer for the product.
After doing marketing in every possible way, we can find the lead from any one of them. Before getting the leads, one need to ask their own few questions, how they are performing on those questions.
Those questions are-
- Are you getting leads from the countries that you need to be in or that will be beneficial for the business?
- The market an exporter wants to tap, is that substantial enough to serve?
- The distribution channel, the exporter will be depending on, is that offering a better margin?
There are a few keys to accelerate EXPORT SALE:
- An exporter needs to select a proactive market. Generally it is less risky to start exporting to markets closer to the product physically or similar to culturally and linguistically.
- The different market requires different approaches; it also needs to keep in mind.
- Establish and Nurture International Relationships to make them potential leads in future.
- Develop a partnership with the leads that have been made.
As you start to get inquiries/interest/leads about your marketed products you are in the real export business environment. You have to answer questions, reply inquiries and negotiate with international buyers. They will ask for product details, incoterms, payment terms, price, product images, samples, etc.
We can short down the list like below:
-The Offer (Proposal)
-The Quote -Payment
While you’re communicating you must make your buyer comfortable to do business with you. So, in some cases, you may have to be compromising in the negotiations. At the same time, you must choose a safe payment method to get paid. Eventually, after a successful communication and negotiation, you might close a sale! There are some formalities such as paperwork in the process. You must be able to do the paperwork right.
After export sales stage you will be able to:
- Successfully close a sale.
- Paperwork correctly such as pro forma invoice, export contract, commercial invoice
- The exporter needs to make sure that he/she has chosen the safest possible way of getting paid.
We will be talking about the last step of export journey in the next blog.