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2011 GROTTO Market Expansion Exchange

2011 GROTTO Market Expansion Exchange. U.S. Commercial Service www.export.gov Miguel Olivares Senior International Trade Specialist U.S. Dept. of Commerce Miguel.Olivares@trade.gov. Overview. Where to Start? Identifying Opportunities and Markets. Leveraging the Web.

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2011 GROTTO Market Expansion Exchange

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  1. 2011 GROTTO Market Expansion Exchange U.S. Commercial Service www.export.gov Miguel Olivares Senior International Trade Specialist U.S. Dept. of Commerce Miguel.Olivares@trade.gov

  2. Overview • Where to Start? • Identifying Opportunities and Markets. • Leveraging the Web. • Working with the U.S. Commercial Service.

  3. Where to start? Are you export ready? • Does your company have a product which has been successfully sold in the domestic market? (if it does not sell here, it may not sell there) • Does your company have, or is preparing, an international marketing plan with defined goals and strategies? • Can your company commit sufficient production capacity to the export market? • Does your company have the financial resources to actively support the marketing of your products in the targeted markets? • Is your company willing and able to dedicate staff, time, and resources to the process of developing export markets? (can you send folks traveling?)

  4. Identifying Markets • Not extensive but you may wish to keep these in mind: • Market Size: Colombia is larger than Guatemala etc. • Income Distribution: what % of the population has ability to purchase your product? • Market Growth: Is the target country growing economically? • Market Accessibility: Will the product be allowed into the country and/or what would the cost be? • Economic Stability/Political climate. Do you want to put your resources into a country that’s at risk of instability? • Cultural Climate. Will your product work in a given country? Will it have to “culturally modified”? • Language. Portuguese is NOT Spanish. Canada is a bilingual country.

  5. OK, How do I find these out? • There are a number of sources available for you to identify potential markets. • Export.gov: Access to Country Commercial Guides, real-time market research reports, U.S. Commercial Service websites overseas. • Assessing inquiries from overseas. Have you received statements of interest in the past from more than one country? • Attending industry trade shows. • Strategis.ic.gc.ca- Excellent website for U.S. and Canadian statistical trade. • Cia.gov: World Fact Book.

  6. More Market Research Sources • The following are fee-based services and should be used only to gain additional information not generally available: • Harris On-line Database http://www.selectory.com/Selectory/Login.aspx • Piers Data http://www.piers.com/ • Kompass.com http://us.kompass.com/ • Distributor Match http://www.distributormatch.com/ • U.S. Commercial Service Customized Market Research http://export.gov/mrktresearch/eg_main_018208.asp

  7. Promoting your Product(s) • Key Terms-the following are terms you will hear often as you engage your export strategy: • “Agent”- an entity that works to sell your products in a foreign country. Akin to a “manufactures representative”. • “Distributor”- a foreign merchant who purchases goods from a U.S. exporter (at discount) and resells them for profit. Distributors often provide support and service for the product . • “End User”- the customer, the final purchaser of your product.

  8. Promoting your ProductsContinued… • Soliciting foreign visitors at domestic trade shows you are exhibiting at. • Exhibiting at select foreign trade shows. • Overseas industry publications. • Networking thru key international industry associations. • Promotional Assistance thru U.S. Commercial Service.

  9. Leveraging the Web • Once you have a website you are already “out there”. You have global exposure whether you want it or not. • Asia and Europe have more web users than North America and the number in Africa, Middle East, and Latin America is doubling. • Try a “phased” approach • Simple enhancements to your site • Internationalization • Localization • Translating your website • Proactive Promotion

  10. Simple Enhancements • “Contact Us” • Don’t use info@company.com • International Sales – Tony@company.com • Better yet…create a separate page for International Sales • Show your address as you would on envelope except… • No abbreviations - spell out your state • Include USA in your address

  11. Contact Us Example of online form

  12. International Formats and Standards • Address formats differ per country: • Free text for postal codes-at least 12 digits • Some countries don’t use, many combine letters and numbers (Canada). • Allow for longer lines, multiple names & titles • Always include country and city fields and allow for any number of digits in phone numbers. Hiro Watanabe Trudi Hecht C-207 1-19-25 Oude Gracht 621 Ikki-Machi 1381 X2 Weesp Aizu-Wakatsu City The Netherlands Fukushima 765 Japan

  13. International Formats and Standardscontinued • Dates • Spell out dates to avoid confusion • U.S. convention is different than most countries • 8/3/11- Is this March or August? • Time • Specify your time zone and use both 12 and 24 hour formats. “Office Hours 9:00am-7:00 PST” (9H00-19H00 GMT-8) • Measurements • If your company makes products that include weights and measures and you want to include that on your website…make sure you include metric weights and measures as well as the US conventions.

  14. Is English enough?(2008)

  15. Is English enough?(2011)

  16. Website Translation • Always use a professional. Better not to translate than translate poorly. • Can Impact website design – Text expansion/shrinkage • Translated English is 30-40% larger in some European languages and 30-50% smaller in Asian languages. • The word “speed” in German = Geschwindigkeit • The word “speed”in Chinese = 馳

  17. Website Translation Continued • Avoid machine translators (although they are getting better-always best to have someone check it for inaccuracies). In Spanish, “Como” means “How.” In Spanish, “Mucho” means “Much.” However… “¿Como mucho?” does notmean “How much?” --- It means “eat alot?” “¿Cuánto?” means “How much?”

  18. Translation points • You don’t need to translate your entire site-a splash page or translated introduction page will do. • Make it easy for the international visitor to see your site. Right example better than left.

  19. Internationalized Site- Cisco. Notice how all relevant information is on one page without scrolling, and pages are designed according to language.

  20. Working with the U.S. Commercial Service • The U.S. Commercial Service is part of the U.S. Dept. of Commerce. • We are the export-promotion branch of the U.S. Government. Our mission: • To promote the export of goods & services from the United States, particularly of small- and medium-sized businesses • To represent U.S. business interests internationally • To help U.S. businesses find qualified international partners

  21. Where we are and what we can do • We are in 80 + countries and in every U.S. State. • We locate international buyers, distributors & agents. • We provide help and guidance at every stage of the export process. • We help you to enter new markets faster and more profitably. • Each one of us is measured individually and as a team for creating exports. It is our interest to help you succeed.

  22. Our Services • We will work with you and our team of experts overseas in getting you all the information and advice that you need to successfully enter identified markets. • Help you evaluate international competitors • Identify and comply with legal and regulatory issues • Locate & screen foreign reps/distributors/agents • Explain cultural issues and business protocol • We can provide you with market research reports to help you identify top potential markets.

  23. Our Services Continued Business Matchmaking • Gold Key Matchmaking • International Partner Search • International Company Profile Trade Promotion Events • Trade Missions / US Pavilions • International Buyer Program Market Research • Market Research Library • Customized Market Research • China Commercial Brief Tailor Made Programs • Advocacy • Single Company Promotions • (FUSE) Web promotions

  24. Final Thoughts • Be realistic and prepare to have some of your preconceptions challenged. Accept things for what they are more than what they should be. • Take the time to learn something of the culture you are selling to. Knowing something about a country outside of business/politics (sports, language) goes a long way. It gives you a connecting point with people. • Have fun and don’t be afraid to step outside your comfort zone. Try new things when you are “out there”.

  25. How to Contact Us U.S. Dept of Commerce 1850 Eller Drive Suite 401 Fort Lauderdale, FL 33316 954-356-6640 5835 Blue Lagoon Dr., Suite 203 Miami, FL 33126 305-526-7425

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