Blog Post
Invention, my dear friends, is 93% perspiration, 6% electricity, 4% evaporation, and 2% butterscotch ripple.
- Willy Wonka
If you are thinking of starting your Import Export business online, you need to remember that every business takes time to succeed, therefore you need to be patient and well researched.
The initial step is to conduct a market survey and focus on the markets best suited as per your needs. You need to build a corporate International Image and work towards establishing your credibility in the market. Your credibility will be the key to your success in an online import-export venture. Your presentation should be impressive as well as trustworthy. This will increase your chances of attracting foreign buyers.
Focus on your branding strategy
In order to qualify as a player in the international arena, you need to work on your presentation skills and corporate identity. Your corporate identity will speak about your company’s goals, mission and values. It plays a significant role in establishing credibility on the global front. You need to have a relevant logo, stationery and cash line.
Analyze:
You need to investigate about various markets, government plans and buyers. Start by building contacts and talk with them. Conduct a detailed market research survey and try to get maximum knowledge. Familiarize yourself with the key players in the business and potential buyers as well as merchants. Visit trade fairs and business conferences related to your field and keep yourself updated on the latest market trends and changes.
Market evaluation requires gathering relevant date, information and research. An ideal market would be one that is likely to generate maximum profit for your Import/Export business on the Internet. You can obtain information on the Internet or by contacting the Chamber or trade and commerce. While making a selection of the markets you must know the market trends, requirements, target customers, local and global competitors.
Export/Import Regulations and Terms of trade:
You need to be in sync with the latest rules and regulations in order to start you Import and export business online. For this you need to contact your industry association and relevant export authority and enquire if there are any possible requirements for your products to be exported. You might need to apply for an export license, certificate or permit. A well established export body is the best place to seek guidance.
Many countries have set up offices, Consulates or Embassies to promote their respective exports. These Consulates can be approached in order to receive directories, manufacturer lists and retailers details. You can also obtain their e-mail details through the Consulates.
You need to approach the Commissioner of trade and your country’s tax department in order to apply for registration numbers ad other procedures. You can visit The Chambers of Commerce and get relevant information. These will give you a fair idea about the terms of trade and delivery, methods of international payments, International trade ethics and favorable markets.
Establish yourself Online:
If you are looking towards establishing your Import and Export business online, the first thing you need is a good website. This will not only establish your credibility but will also attract potential foreign buyers. In today’s world where the Internet has become the hub of all activity, it is important for one to have a corporate website. It is the only way by means of which buyers, manufacturers, retailers and dealers will get to know about your products and services. Your website will also give you an edge over your competitors as it will highlight the USPs of your products online.
An online product catalogue will further enhance the chances of sale. Your website must provide your contact details as well as specify the terms and conditions of trade. Your website must speak about your company’s profile as well as be interactive.
Get your website Optimized:
For setting up a successful online business it is important for your website to be search engine optimized in order to attract relevant targeted traffic and therefore enhance trade. Search engine optimization ensures that your website ranks well on all major search engines like Yahoo, Google and MSN and more targeted visitors land on your website. The more the number of visitors the better are your chances of increasing sales.
Develop and export plan:
Different markets have different requirements and trends. You need to develop an effective export plan for each market which should include:
Export Analysis
Product Development
Implementation Plan
Export Strategy
Financing
Pricing
Logistics and distribution
Sales Forecast
Quick Response better Sales:
Be quick in your response in any online business in order to retain the customers. This not only develops trust but also helps generate more business. No customer likes to wait and the same applies for Internet based businesses.
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