Powerful strategies to increase sales for export

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hi guys welcome back to my channel the best place for who wants to be a better player in the global market in this video I'm talking about how to develop a marketing strategy for your import/export business I think you are going to get some really good ideas the possibilities are truly endless when it comes to building your business and be your own boss so if you are excited about learning international trade if you are excited about becoming a better player in the global market make sure you hit that like button it helps us get seen by more people here on YouTube and be sure to subscribe and hit the bell to be notified when I post new videos the import/export business is just like any other type of business but by its global nature it presents some unique complications a majority of domestic business operations work under the build and they will come mantra they might at times get away with it when they have the advantage of a prime location and no competition in the import-export business however it is a guaranteed recipe for disaster a marketing strategy simply refers to a detailed documented plan outlining all the information necessary for the successful promotion of your business no rules are outlining how long this document should be but the more comprehensive it is the more likely it is to cover all the necessary information however it should cover one year this period is sufficient to allow you to reach long term goals but allows for flexibility in case there is a change of circumstances while some find the process of developing a business strategy unnecessarily cumbersome it is extremely important to business success therefore before we set out on discussing the development process let us look at some crucial roles of an export import marketing strategy the importance of an import export marketing strategy one helps maintain focus working with a plan as opposed to taking a haphazard approach makes it easier to maintain focus everyone in the company works with a purpose and is more likely to succeed it also empowers every member of the team to make appropriate decisions since they understand the overall company objective two captures the big picture running an export business for beginners is particularly difficult because it involves treading on completely unfamiliar territory it is easy to give up when you hit a bump on the road but with a marketing strategy to remind you of the big picture constantly you will be better placed to handle disappointments it serves to show you the status of the business at any given time vist Avis the grand objective and serves as an encouragement to keep going 3 serves as a foundation block even though it is a time-consuming undertaking the first marketing strategy you create will lay the groundwork for all subsequent ones you will never again have to write one from scratch instead you will periodically make minor tweaks and alterations as the need arises this original plan will become a template that you will use to streamline your objectives you will also use it for assessment of product development customer retention and general performance 4 makes it possible to calculate ROI devising and adhering to a marketing plan makes it possible to track expenses and assess the value of your efforts this is because it allows for proper record-keeping every step of the way working with a plan makes it easy to budget marketing expenses this will contribute to better cash flow management and proper expenditure control with such a detailed record it is easy to carry out an assessment periodically to determine the success of the chosen approach it reduces wastage of funds on unproductive processes this will enable you to focus on successful campaigns and in the long run ensure business growth 5 helps in proper resource allocation one of the most common hurdles to a successful marketing campaign as insufficient funds many business owners fail because they start on a process they cannot complete this often generates little or no results or eats up into your cash reserves thus crippling the business it is easy to avoid this when working with a well structured market plan this is usually based on one's financial capacity it allows you to direct your resources where they will have the most success this ensures that you ultimately reach all outlined objectives steps to create an effective marketing strategy many entrepreneurs find the concept of devising a market strategy daunting it might sound technical but it does not have to be so by following the correct procedure you will be able to devise a plan for marketing export and import products in no time at all let us examine one step at a time one understand your business before reaching out to your target market you need to understand your business model fully what kind of business are you running what products and services do you intend to sell who makes up your target market is it a sole proprietorship partnership or other forms of business the next thing is to assess your capabilities strengths and weaknesses at this point you examine your financial capacity experience in various fields and any threats that could deter the growth of your business getting an accurate picture of where you are right now and where you want to be a year down the line as an important first step assessing the resources you have at your disposal will help you determine what you can and cannot accomplish to carry out market research before setting out to devise a marketing strategy you need to think about your target market who is your ideal customer think about their location age gender cultural background behavior and attitudes in the import-export market this is often the most complex step this is because you will in most cases be dealing with people from a completely different background than yours they could be speaking a different language and have a culture that is completely different from yours you also need to think about the political framework in your target country as well as the market size and growth potential the idea is to have an accurate feel of the target market to make sound decisions concerning marketing campaigns this process should be repeated for as many markets as you plan to venture into each one of them will give you different results and allow you to tailor an approach that will result in success 3 assess your competition no business operates in a vacuum and at times our marketing decisions are greatly influenced by our competitors instead of being intimidated by the fact that other business models are doing exactly what you do you should be looking at ways to set yourself apart the easiest way to do this is by getting as much information on them as possible look at the product or service you intend to offer in-depth assess this product against that of your competition is it better worse or equal to what is already there in the market is there any way it can be improved is there any feature that could make your product the go-to choice despite the competition is there any positive difference that sets your product apart from the rest when you are trying to venture into a highly competitive field such close examination could break your heart you might find out that the companies you are up against are better at what they do than you initially imagined but on the upside it is much better to realize this early on and adjust your approach than to learn of it when your business is already struggling this is the best way to prepare a counter strategy from an informed perspective four set objectives now that you have all the important data at your fingertips you are now in a position to define your marketing objectives what exactly do you wish to achieve by the end of the year what are your sales volume and profit target if you are only starting this step can also be a bit challenging since you have no index against which to measure success you can start by setting reasonable short-term goals with regards to the number of new customers you want to get the number of social media followers you want to have etc the idea is to have specific marketing goals and a specific timeline within which you plan to accomplish these objectives 5 outline your marketing strategies every one of the objectives you outline should have a proposed method or methods to ensure you achieve it list them separately and research on appropriate approaches to see them through this step ensures that you now have a plan of action to motivate you to work towards your goals the strategies also help you to assess which objectives are realistic and achievable and which ones are not if for instance you want to get 100 new Facebook followers every week you need to be active on the platform think about the kind of content you need to post and when you need to post it to ensure it happens consider how you will keep your audience engaged so that they retain interest and probably invite others 6 detail the financial aspects of your strategy running a successful business requires a healthy respect for numbers how much do you want to spend on marketing your import-export business how much of this amount do you have where will the rest of the required money come from are there items you need to check off your list do not leave anything to chance and never reason that you will use the profits you make to achieve outlined goals this is simply planning to fail because in case you do not reach the profit targets you might have to abandon your plan tweak your plan ing to available resources to avoid future disappointments 7 start working after getting all the steps to a successful marketing strategy down you need to get into action start immediately and remember to keep referring to your plan to assess your performance you could refer to online import-export marketing plan samples to structure yours appealingly this helps you to get everything organized and to keep track of progress better types of marketing strategies numerous marketing strategies have been applied with success to import-export business firms let us consider a few of these and what they entail 1 pricing strategies this is one of the most effective market entry strategy examples late entrance into international markets have from time immemorial used this to their advantage customers are highly priced sensitive and will not pass up an opportunity to save an extra buck pricing strategies also include promotions discounts membership and volume pricing to online strategies import/export online marketing is one of the most successful options it allows you to create an international brand with ease web marketing includes but is not limited to website creation content marketing email marketing campaigns social media ads search engine optimization among others 3 traditional marketing strategies traditional marketing is the use of print material word-of-mouth and billboards to create brand awareness it is not as common in import-export marketing but offers some distinct advantages think of attending international fairs and trade shows and interacting with current and prospective customers face-to-face this makes an indelible mark and gives an edge over competitors who only operate on digital platforms think of hiring export managers in your target markets to make this easier to accomplish for niche strategy this is another highly effective strategy for both beginners and veterans it involves choosing a small target audience that is characterized by a unique feature it could be based on age location behavior or even psychographic studying the unique traits of this small audience can enable you to tailor a product that they simply cannot resist it will also set you apart from the competition in most cases finally last but not the least if you are satisfied with this video just share it with your friends and comment below your comment is very crucial for me do not forget to subscribe to my channel like comment and share with your friends I appreciated all your support enjoy your journey