The current economic trading environment is forcing many small businesses to look to overseas markets.
Helped by the current weakness of the pound, which makes exports more attractive, trading internationally could offer some respite to the current problems in the UK.
But according to David Nichols, international trade consultant and a director of The Translation People, businesses need to be prepared to adapt their offerings and make efforts to understand the culture of their target market if their efforts are going to be successful.
The Translation People offers the following tips for businesses looking to take their first steps overseas:
Focus your efforts
Don't try to take on the whole world. When identifying
potential markets, it's usually unrealistic to expect to target more than three
countries for your first push
Do your homework
Detailed market research for each country is essential. As
well as identifying potential customers, think about what local support you
might need (for example, agents or distributors). It's also vital to
investigate any legal issues such as duties/tariffs and local regulations
Understand the culture
Try to understand what the cultural issues are around doing
business in your new market so that you make the best possible impression; for
example, in Germany
businesspeople usually don't address each other by their first name
Talk the customer's language
No one likes complacency in business. Making an effort to
provide your marketing literature, letters and emails in the local language
will pay huge dividends. It's all about creating the right shop window; if
you want to be taken seriously as an international business, you have to look
like one
Get your website right
Your website is your primary bridgehead to any new market.
It is essential to adapt it to suit your target markets, to have it
professionally translated into the local language and to have it hosted locally
(this will substantially improve your in-country search engine rankings)
Your first visit
First impressions count, so when you set up your first
meetings with overseas prospects, think about using a professional
interpreter. Even for customers with strong English skills, an hour's
business negotiations in their non-native tongue can be a strain
Follow-up is critica
As with all business, the golden rule for success overseas
is to ensure timely follow-up to meetings. Geographical distance is no excuse
for a slow response. Ideally, you should confirm any agreement reached in the
customer's own language.
Don't forget pricing
Using the right currency in pricing is essential; customers
in the Euro and Dollar areas frequently expect pricing in their own currency
and they may no longer accept quotations in Sterling.
Government help
UK Trade & Investment has a very helpful website on all
aspects of international trade (www.uktradeinvest.gov.uk). It also offers expert
advice and in some cases financial support
For more information visit www.thetranslationpeople.com
