In my Trade and Investment Facilitation Masterclass I explain the difference in engaging in local, regional and global trade. Just because you are winning in your local market does not mean that you are ready and equipped to go global. To be successful internationally, you must develop a winning market entry strategy that factors in the right distribution channels, a network of international Agents and Distributors that will help you execute your strategy over time.
If you are seeking new markets for your products and or services here are 5 things you should also consider:
- You cannot do it alone: Going global is more complex than remaining in your local market. Expanding internationally means that you would be reaching new clients and you may not understand their culture, buying preferences and patterns. That is why securing strategic partners like us to hold your hand and guide you could save you years of trial and error.
- You do not know what you do not know: When seeking new markets for your products and or services it is important to conduct market research. This is why we continue to prioritize educating our clients and community members about the African Continent. To engage with Africa, either as an exporter or an importer, knowing and understanding the market as it relates to your specific industry is critical for your success.
- Marketing and brand reputation: If you are a B2B or B2C company getting your message to the right paying customer often requires upfront marketing cost. You need to position your brand so that it can compete in the market as well.
- Networking: Sitting around hoping that your strategic partner would find you is not setting you up for success. Taking the initiative to show up to events and joining strategic B2B and B2G platforms like our International Trade Network (www.nazaru.trade) gets you closer to those that matter to work. Often you have to network your way to secure success. Our diverse and global network of key strategic stakeholder offers unique advantages to our clients.
- After Sales Support: Have you built in after sales support into your market entry strategy? More customers internationally are increasingly requiring this level of support before they buy or engage long term.
