How can I grow ecommerce internationally?
eCommerce can liberate your business potential overseas, but requires careful planning to make it a profitable and sustainable source of future revenue. Many businesses have international potential but you need to consider some fundamental areas of opportunity::
- Which market? You need to choose markets strategically having calculated the key factors of market potential and ease of entry.
- Product appeal. Do I have differentiation or am I just a commodity product?
- Customer opportunity. Are there similar customers to the ones you are selling to?
- Brand appeal. Have you an exportable brand with reputation overseas or are you starting out at creating one?
The following are some practical considerations in assessing was of market entry:
- Language. Does your product copy require translation for effective selling into this market?
- Currency. Will your product sell abroad without changing currency at the checkout?
- Licensing. Have you distribution rights for your product overseas?
- Local online and eCommerce behaviours. Returns can kill overseas eCommerce, especially where customers are used to a high product purchase and return practice such as Germany.
- Delivery and distribution. Where is your stock held and how can I fulfil cost effectively abroad?
- Local marketing. Do you need access to local marketing expertise to promote your business?
- Multi-store. Can you serve this new market via a clone multi-store from your current site?
- Customer service and after sales. Can
As a great starting point we would recommend you consider where your international business potential lies by looking at the UKTI website www.exportsavvy.co.uk
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