3 Ways Your Online Business Can Better Sell To Global Customers
The onset of the digital age has allowed an unprecedented globalization of the marketplace—but how many online businesses are actually taking advantage of these new selling opportunities?
True, the United States is one of the world’s largest markets for retail e-commerce sales, but it’s hardly alone. According to a recent eMarketer report, China’s retail e-commerce sales will reach nearly $2 trillion in 2019. That’s more than three times the sales revenue forecasted for the United States. Rounding out the top five are the United Kingdom, Japan and South Korea.
Whether you’re selling a B2B service or an e-commerce product, there’s no denying that finding ways to appeal to these overseas markets can open up lucrative new opportunities for your business to thrive like never before. Here’s how to position yourself for maximum success abroad.
1. Learn About Your New Target Market
Before you consider targeting prospects from another country, you must do extensive research to ensure that your product or service will actually find a place in that market.
Localization efforts can be time-consuming and costly. Without gaining an understanding of your new target market in advance, these efforts could easily be squandered.