Selling goods abroad is a multi-trillion dollar trend that lots of businesses are following. While the majority of companies sell to just one other country, expanding your market to an entire continent or region could increase revenue greatly. If you want to sell goods abroad, however, you need to know the ropes.
Follow these 4 tips to sell goods abroad and make the same profit you make at home.
1. Have a Communication Channel
When you’re looking to sell goods around the world, you need to be able to communicate worldwide.
First, you need to have people who know how to speak the language. Aside from taking some DuoLingo classes, they should know the culture. They should understand basic idioms, especially the ones that relate to your industry.
You should also have a team that can be reached 24/7. Even if it’s an answering service, you need to be able to communicate during whatever hours are convenient for your global customer base. While you might be working a 9-5 schedule, your customers might not be making calls until 6 or 7 at night, your time.
2. Get To Know The Customs Charges
Customs fees can hit you hard in certain industries. Even if you’re selling a great product, if the country you’re shipping it to has a competitive market in your industry, you could be paying up big time.
The last thing you need is for your profits to be gobbled up by charges made by governments. Get to know what fees to expect beforehand so you can make up for those charges in your pricing schedule.
Be sure your entire sales team knows the charges before agreeing to a contract in a new market.
3. Set Up A Shipping System
Shipping can take a huge bite out of what you earn from your sales. If you don’t properly research the shipping options you have for working with overseas buyers, you could end up getting gouged pretty badly.
Get to know what the cheapest options are for selling to your clients and shipping quickly. Knowing the rates and channels for shipping could save you thousands every year.
4. Have Regional Trend Ambassadors
As stated above, selling to people in other countries is about more than just knowing how to speak their language. You need to be able to follow the local trends and communicate on a sincerely local level. You need to know what’s hot and what people are looking for from products like yours.
Trend ambassadors to know what can work in every market will be a huge help.
You Learn New Things When You Sell Goods Abroad
If you have a company that takes the leap to try to sell goods abroad, you can learn a lot about your industry, yourself, and your customers. Even if you don’t do well in one market, you can learn what it is that makes your products special in your own market. When you take the change to expand beyond your borders, you take the chance to grow as a brand.
If you want to know more about what buyers can expect from selling abroad, contact us for tips.