Finding new customers for your product or service is an essential component of the sales process. It may be difficult for some, but if your objective is to boost sales, you must determine which sales technique would be beneficial for your target client.
Are you an international business? Do you have a fantastic product but aren’t attracting the appropriate people to purchase it?
Exporting makes sense, especially if you are situated in a small or highly competitive market. But how can you ensure that your foreign income grows year after year?
Select a Right Country
Countries are at various levels of development. And, based on their purchasing capacity, people begin to purchase specific goods and services. The majority of the money is spent on food, up to a GPD per capita of 5,000 dollars. From 6,000 dollars, for example, there is a market for refrigerators, and from 20,000 dollars, individuals begin to spend on recreation and culture. And, at some point, utility is no longer sufficient, and design and branding come into play.
Knowing the drivers of your sales is the first step in selecting a country. Spending power is one cause, but others include aging, internet usage, and urbanization. Presenting nation data in a novel way can reveal which countries are hidden jewels and which should be avoided.
Understand Market Potential
Do you understand the market potential in each of the markets in which you operate? Of course, you can purchase reports for individual product categories, but what does it tell you about your unique market segment? Do you know how your rivals are faring?
Researching the market potential and growth is essential before deciding whether to invest more in one industry or in another. Your sales manager’s quarterly reports should include a breakdown of market share by nation. The process of calculating market size yields significant information in and of itself.
Assess Your Agent’s Work
Of course, you are pleased with the revenue generated by your agents or distributors, but can it be increased? Some markets may be more difficult than others, but ultimately, sales outcomes are determined by the activity of your local partners. How much time and money do they devote to publicizing your products or services? Are they keen to expand their business and grow their market share?
Only an open dialogue with someone they trust can yield a clear response to these issues. If it isn’t you or your export manager, it’s time to employ a local distribution expert? He or she can also discern between true and false difficulties and, in collaboration with your company partner, establish and monitor a route for progress.
Plan Your Agent’s Traveling Schedule
If you sell to numerous countries, your export agents for international trade will be on the road a lot. It is frequently not cost-effective to engage a dedicated liaison for each nation, therefore they must divide their time across many countries. However, there are two main drawbacks to this:
Export managers may spend up to 30% of their time traveling, and the expenditures of travel make them costly workers.
An export manager will never be able to grasp the culture of each country in which he operates, and his restricted presence makes conducting business successfully challenging.
Working with local, part-time country managers is an alternative. This alternative is becoming increasingly available as more flexible kinds of work become available. A part-time local country manager may be immediately on the ground when needed and can go to headquarters once or twice a year to coordinate with your other workers.
Offer Your Customers Something Better
People don’t buy things; they buy the outcomes that those products will provide. Begin your process of finding your ideal client by compiling a list of all the advantages that your consumer will gain from utilizing your product or service.
You describe your competitive advantage, or the rationale for purchasing your products or services, in terms of the advantages, results, or outcomes that your consumer will experience from purchasing your product or service that they will not completely enjoy from purchasing your competitor’s product or service.
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