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Of course! Merchants who sell domestically always wish to expand their fleet in the international market but what if the path to becoming an international brand can be challenging and full of obstacles? Well, the truth is small and medium-sized online retailers had to face the problem the most when it comes to selling globally. And the common barriers are language, difficulties, hurdles with customers, and the cost of shipping.
The competitive market of eCommerce is expensive and covers the globe, where business-to-business and business-to-customer retailers of all sizes are in head-to-head competition. For many merchants, as their brand grows in demand and size, the thought of going international begins to loom on the horizon.
Yes, there’s an excitement to go internationally but at the same time, there are a number of considerations business owners need to make especially if it’s their first time. As you know, it’s all about customer experience, and for international selling, that means organizing fulfillment, currency, and localized content.
Global Retail Struggle – What Retailers think to not move ahead?
Challenge 1 – Domestic expansion is the only goal they have
Challenge 2 – Domestic selling is more comfortable than going global
Challenge 3 – A mindset that best is yet to come
Challenge 4 – They don’t have enough resources and supply chain management
Challenge 5 – Language barriers (the most and common one)
Well, these are the biggest challenges retailers think that they will get on their road to becoming an international tycoon. As a small and medium-sized business, you should think about these challenges but there’s a way you can overcome and get succeed to jump in the global market.
In this article, we will discuss some of the possible ways to jump into the international market and why selling internationally easy. Read on to get start your international journey with ease.
1. Communication is key:
Just like your first date! when it comes to the overseas market, you need to focus on some factors as a skilled and effective communicator. Here is what you need to take care of,
- Define your communication objective
- Choose your message
- Choose the marketing communications tool
It is not difficult to choose a communication objective as your goal should be a focus on getting market attention, developing that attention to interest, and then turning that interest into desire. Hence, consumers take action in buying your product or services.
Selecting a message means making sure that the company is understanding what information or connection the target audience is looking for. Remember this is important to realize the culture and trends of the country you are looking to target.
Choosing the best marketing tools to depend on both the company and the market they are looking to sell to. If a company or store is looking to sell to a market that is involved in a website or social media, then it would be smart to use a website or social media as a tool. Ultimately, international market communication is vital to get succeed internationally.
2. Identify and choose the right markets for you:
The second and most important thing is the market, especially whether you create your website or use an online marketplace. You must be identified and select the right markets for your products as it is a key ingredient to success. What sells like a cupcake at home may not be popular abroad.
So, you need to consider not only the language barrier, but also cultural differences, political and economic policies, and buying personas before choosing the inventory that you will promote globally. What you can do is research and identify which country is the best fit and also which is the finest country for a product that you are selling domestically.
Choosing the right online marketplaces to sell on is an important decision to make when you make the leap and start selling internationally. However, you’ll need to do a bit of research to find out which ones are the most popular in your target location and what they require. This is how you can sell easily and step into the international market.
3. Support your customers by meeting their needs:
This is much needed in any business because without support, there is a chance your customers will leave you and choose someone else. It is a necessity because how are your international customers going to get what they ordered. It seems like there’s a simple answer, but based on your size and volume, the way your orders are processed can vary greatly.
There are three types of merchants in the market including small, medium, and large. And depending on their size, you need to provide support and help your customers to give them a good shopping experience and quality after services.
When it comes to small merchants, there are low order volumes and often they have a limited catalog. Hence, they can follow an international shipping guide and break down everything you need to know about shipping internationally without any trouble.
In medium merchants, they have consistent and growing order volume. For medium merchants, it may lead to longer shipping times and enhanced shipping costs due to customs fees, and other charges like taxes and tariffs. In the most difficult time, customs can prevent products from being delivered due to international laws, policies, and duties. As a solution, they can choose a third party, cross-border, or logistics provider.
At last, larger merchants, retailers are conducting hourly international transactions and are managing multiple international stores in a variety of countries. As a part of the solution, with a large number of resources, the retailer may decide to bring international fulfillment operations in-house. This reduces the cost of the meeting and allows them to offer better prices.
4. Currency localization and payment:
The next and best way you can get success in stepping international market is by improving user experience. And for that, merchants selling internationally should display prices in a localized currency for international customers. This makes the purchasing decision easier and more convenient for the customer.
With exchange rates and the same pricing, it is possible to localize currency. Because the value of international currencies fluctuates, maintaining consistent pricing across markets using exchange rates requires some technology or advancement. Luckily, renowned eCommerce platforms offer a method for keeping currency conversions up-to-date. The method is Magento’s currency configuration. You can also take the help of Magento development Company to customize your store according to your business needs.
And for payment, of course, different countries have different standard payment methods. It’s in your benefit to offer localized payment methods to different regions because it gives customers the ability to checkout using payment options they trust and know.
Summing Up!
Above mentioned are the useful tips you can consider to step into the international market and sell your products across the globe. If your store is growing then this is the time to take the next step without fearing internationalization.
Need help in setting your eCommerce business internationally? M-connect Media can help you by suggesting you on deciding the appropriate market for your product and also to design, develop, and market. Get in touch with our eCommerce experts now!
