How to Access Untapped Markets to Boost Your Profits

StrategyDriven Marketing and Sales Article | How to Access Untapped Markets to Boost Your ProfitsIn today’s globalized business world, you’re no longer selling to just your community or to the people around you who might have a special interest in your products or services: you’re able to take whatever’s special about your company and multiply it across the world. This article aims to encourage you to take your product or service to the international business arena in order to tackle new markets and find new demographics in new countries to sell to – giving a significant boost to your revenue in the long-term.

Establish In-Country Contacts

The simplest way to get into a new market is through a local partner or contact. They will be able to facilitate the kind of groundwork that you’ll need to get your product imported without hassle, and to bring your product into shops and stores that you’d have to work terribly hard to penetrate yourself. With a partner you trust, you’ll be able to outsource all of this work and stress to someone who may have an incentive to make your business success overseas – a win-win for yourself and your in-country contact.

Make Use of International Shipping

If your business is primarily driven by online sales, you may technically never have to sell products to stores abroad. What you should do, however, is make sound use of the international shipping market in order to ensure that your product reaches its destination – wherever in the world that may be – as soon as possible after it’s purchased. Consider the following:

  • Establish a partnership with a shipping provider to get discount shipping rates.
  • Show international shipping options and prices prominently on your website.
  • Ensure that overseas customers can pay with different forms of payment methods so that no one is dissuaded from engaging with your brand.

Sometimes, you may not be able to drum up the interest in your products in emerging markets that would significantly boost your profits. To achieve this, you’ll need to launch a new, international marketing campaign.

International Marketing

The world of digital marketing is, of course, fairly international in and of itself, given that it takes place on the global platform that is the world wide web. Nonetheless, your marketing campaign aimed at developed nations and western countries is unlikely to communicate the same message to other countries and contexts.

As such, one of the best options you have up your sleeve is to run an international or foreign-local marketing campaign through a third party, promoting your products to new markets. Marketing in China, for instance, will make use of Chinese culture, language and sales tactics to bring your products or services to one of the world’s most thriving economies. The same can be said of other rapidly developing countries, such as India, Brazil and Nigeria.

Network Online

Finally, if you happen to find some local businesspeople and entrepreneurs online who you think may be able to sell your product for you in different countries, it’s certainly worth reaching out with an offer or inquiry. Make a small pitch, introduce yourself, and outline the proposal you have in mind: any canny businessperson in a foreign country will see this is a golden opportunity to make some extra cash – for themselves and you.

These tips should help you access foreign markets that can provide a significant boost to your profits in your online business.

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